Sphere Entertainment Co. is a publicly owned American live entertainment and media company employing approximately 480 people. The company operates two primary segments. The Sphere segment encompasses a new Las Vegas venue opened in 2023, designed for large-scale events such as concerts, films, and sporting events, along with Sphere Studios, its internal content production arm. The MSG Networks segment comprises two regional sports networks, MSG Network and MSG Sportsnet, broadcasting live sports and other programming primarily in the New York metropolitan area.
Sphere Entertainment's immersive "Wizard of Oz" experience at the Las Vegas Sphere generated over US$65 million in ticket sales and sold more than 500,000 tickets since its launch on August 28. The company also repurchased US$22.5 million of its Class A stock. Analysts offered varied opinions on Sphere Entertainment stock over the last three months, ranging from bullish to bearish. In the past month, Sphere Entertainment's stock surged approximately 46%, largely due to the "Wizard of Oz" attraction's success; shares increased roughly 19.3% this week, closing at approximately $58.33.
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