MSG Sells Entire Stake In Live Nation

The Madison Square Garden Company today announced in a curt statement that it has sold all of its approximately 3.9 million shares in Live Nation for net proceeds of approximately $44 million. The 3.9 million shares represent a stake of about 2% of Live Nation's outstanding stock. The move may not come as much of a surprise considering that Cablevision's Jim Dolan recently resigned from Live Nation's board.

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