{"id":754361,"date":"2023-05-03T09:52:50","date_gmt":"2023-05-03T13:52:50","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/sphere-entertainment-co-completes-sale-of-its-majority-interest-in-tao-group-hospitality\/"},"modified":"2023-05-03T09:52:50","modified_gmt":"2023-05-03T13:52:50","slug":"sphere-entertainment-co-completes-sale-of-its-majority-interest-in-tao-group-hospitality","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/sphere-entertainment-co-completes-sale-of-its-majority-interest-in-tao-group-hospitality\/","title":{"rendered":"Sphere Entertainment Co. Completes Sale of Its Majority Interest in Tao Group Hospitality"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Sphere Entertainment Co. Completes Sale of Its Majority Interest in Tao Group Hospitality <\/b><\/p>\n<p>NEW YORK&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nSphere Entertainment Co. (NYSE: SPHR) (the \u201cCompany\u201d or \u201cSphere Entertainment\u201d) today announced it has completed the sale of its 66.9% majority interest in Tao Group Hospitality to Mohari Hospitality, a global investment company focused on the luxury lifestyle and hospitality sectors.<\/p>\n<p>\nThe completion of the sale follows a successful bidding process with multiple parties, which reflects that since the Company acquired a majority interest in 2017, Tao Group Hospitality has transformed into a global powerhouse in entertainment dining and hospitality. As previously disclosed, in connection with the sale, Sphere Entertainment has also entered into a multi-year agreement with Tao Group Hospitality for ongoing consulting, marketing, and support services.<\/p>\n<p><b>About Sphere Entertainment Co.<br \/>\n<br \/><\/b>Sphere Entertainment Co. is a premier live entertainment and media company. The Company includes Sphere, a next-generation entertainment medium powered by cutting-edge technologies to redefine the future of entertainment. The first Sphere venue is currently under construction in Las Vegas. In addition, the Company includes MSG Networks, which operates two regional sports and entertainment networks, MSG Network and MSG Sportsnet, as well as a companion streaming service, MSG GO, delivering a wide range of live sports content and other programming. More information is available at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sphereentertainmentco.com%2F&amp;esheet=53392410&amp;newsitemid=20230502006270&amp;lan=en-US&amp;anchor=www.sphereentertainmentco.com&amp;index=1&amp;md5=67f894d20445298a7cc5b43733d6a1e6\">www.sphereentertainmentco.com<\/a>.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230502006270r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20230502006270\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230502006270\/en\/<\/a><\/span><\/p>\n<p>\nMikyl Cordova<br \/>\n<br \/>Communications &amp; Marketing<br \/>\n<br \/>(212) 631-4337<\/p>\n<p>\nAri Danes, CFA<br \/>\n<br \/>Investor Relations, Financial Communications &amp; Treasury<br \/>\n<br \/>(212) 465-6072<\/p>\n<p>\nJustin Blaber<br \/>\n<br \/>Financial Communications<br \/>\n<br \/>(212) 465-6109<\/p>\n<p><b>KEYWORDS:<\/b> New York United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Finance Professional Services Other Travel Lodging Tourist Attractions Destinations Asset Management Vacation Travel<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20230502006270\/en\/1781890\/3\/Sphere_horizontal_wordmark_black_tm.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Sphere Entertainment Co. Completes Sale of Its Majority Interest in Tao Group Hospitality NEW YORK&#8211;(BUSINESS WIRE)&#8211; Sphere Entertainment Co. (NYSE: SPHR) (the \u201cCompany\u201d or \u201cSphere Entertainment\u201d) today announced it has completed the sale of its 66.9% majority interest in Tao Group Hospitality to Mohari Hospitality, a global investment company focused on the luxury lifestyle and hospitality sectors. The completion of the sale follows a successful bidding process with multiple parties, which reflects that since the Company acquired a majority interest in 2017, Tao Group Hospitality has transformed into a global powerhouse in entertainment dining and hospitality. As previously disclosed, in connection with the sale, Sphere Entertainment has also entered into a multi-year agreement with Tao Group Hospitality for ongoing consulting, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/sphere-entertainment-co-completes-sale-of-its-majority-interest-in-tao-group-hospitality\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Sphere Entertainment Co. Completes Sale of Its Majority Interest in Tao Group Hospitality&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-754361","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Sphere Entertainment Co. Completes Sale of Its Majority Interest in Tao Group Hospitality - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/sphere-entertainment-co-completes-sale-of-its-majority-interest-in-tao-group-hospitality\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sphere Entertainment Co. Completes Sale of Its Majority Interest in Tao Group Hospitality - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Sphere Entertainment Co. Completes Sale of Its Majority Interest in Tao Group Hospitality NEW YORK&#8211;(BUSINESS WIRE)&#8211; Sphere Entertainment Co. (NYSE: SPHR) (the \u201cCompany\u201d or \u201cSphere Entertainment\u201d) today announced it has completed the sale of its 66.9% majority interest in Tao Group Hospitality to Mohari Hospitality, a global investment company focused on the luxury lifestyle and hospitality sectors. The completion of the sale follows a successful bidding process with multiple parties, which reflects that since the Company acquired a majority interest in 2017, Tao Group Hospitality has transformed into a global powerhouse in entertainment dining and hospitality. As previously disclosed, in connection with the sale, Sphere Entertainment has also entered into a multi-year agreement with Tao Group Hospitality for ongoing consulting, &hellip; Continue reading &quot;Sphere Entertainment Co. 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