Sphere Entertainment (SPHR) 10-Q 8 Nov 23 2024 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Sep. 30, 2023	Oct. 31, 2023
Document [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	001-39245
Entity Registrant Name	SPHERE ENTERTAINMENT CO.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	84-3755666
Entity Address, Address Line One	Two Penn Plaza
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10121
City Area Code	725
Local Phone Number	258-0001
Title of 12(b) Security	Class A Common Stock
Trading Symbol	SPHR
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001795250
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common Class A
Document [Line Items]
Entity Common Stock, Shares Outstanding		28,243,621
Common Class B
Document [Line Items]
Entity Common Stock, Shares Outstanding		6,866,754

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands		Sep. 30, 2023	Jun. 30, 2023
Current Assets:
Cash, cash equivalents, and restricted cash		$ 451,742	$ 429,114
Prepaid expenses and other current assets		66,255	56,085
Total current assets		674,022	623,913
Non-Current Assets:
Investments in nonconsolidated affiliates		50,788	394,519
Property and equipment, net		3,471,141	3,307,161
Right-of-use lease assets		90,000	84,912
Goodwill		456,807	456,807
Intangible assets, net		17,131	17,910
Other non-current assets		104,765	87,793
Total assets		4,864,654	4,973,015
Current Liabilities:
Accounts payable, accrued and other current liabilities		428,091	515,731
Current portion of long-term debt		103,125	82,500
Operating lease liabilities, current		13,104	10,127
Deferred revenue		70,904	27,337
Total current liabilities		642,915	692,141
Non-Current Liabilities:
Long-term debt, net of deferred financing costs		1,098,335	1,118,387
Operating lease liabilities, non-current		111,591	110,259
Deferred tax liabilities, net		285,852	379,552
Other non-current liabilities		90,073	88,811
Total liabilities		2,228,766	2,389,150
Commitments and contingencies (see Note 9)
Equity:
Additional paid-in capital		2,368,059	2,376,420
Retained earnings		278,461	212,036
Accumulated other comprehensive loss		(10,983)	(4,938)
Total stockholders’ equity		2,635,888	2,583,865
Total liabilities and equity		4,864,654	4,973,015
Nonrelated Party
Current Assets:
Accounts receivable, net		114,247	112,309
Related Party
Current Assets:
Accounts receivable, net		41,778	26,405
Current Liabilities:
Related party payables, current		27,691	56,446
Common Class A
Equity:
Common stock	[1]	282	278
Common Class B
Equity:
Common stock	[2]	$ 69	$ 69
[1]Class A Common Stock, $0.01 par value per share, 120,000 shares authorized; 28,244 and 27,812 shares issued and outstanding as of September 30, 2023 and June 30, 2023, respectively.[2]Class B Common Stock, $0.01 par value per share, 30,000 shares authorized; 6,867 shares issued and outstanding as of September 30, 2023 and June 30, 2023.

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - $ / shares shares in Thousands	Sep. 30, 2023	Jun. 30, 2023
Common Class A
Common stock, par or stated value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	120,000	120,000
Common stock, shares, outstanding (in shares)	28,244	27,812
Common stock, shares, issued (in shares)	28,244	27,812
Common Class B
Common stock, par or stated value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	30,000	30,000
Common stock, shares, outstanding (in shares)	6,867	6,867
Common stock, shares, issued (in shares)	6,867	6,867

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended
		Sep. 30, 2023	Sep. 30, 2022
Revenues		$ 118,007	$ 123,129
Depreciation and amortization		(14,259)	(29,755)
Other gains, net		1,497	2,000
Restructuring charges		(3,391)	0
Other income (expense), net		42,196	(415)
(Loss) income from discontinued operations, net of taxes		(647)	2,260
Net income (loss)		66,425	(44,043)
Less: Net income attributable to redeemable noncontrolling interests from discontinued operations			1,124
Net income (loss) attributable to Sphere Entertainment Co.’s stockholders		$ 66,425	$ (44,757)
Basic earnings (loss) per common share
Income (Loss) from Continuing Operations, Per Basic Share		$ 1.92	$ (1.35)
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share		(0.02)	0.05
Earnings per share, basic (in dollars per share)		1.90	(1.30)
Diluted earnings (loss) per common share
Income (Loss) from Continuing Operations, Per Diluted Share		1.90	(1.35)
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share		(0.01)	0.05
Earnings per share, diluted (in dollars per share)		$ 1.89	$ (1.30)
Weighted-average number of common shares outstanding:
Basic (in shares)		34,911	34,403
Diluted (in shares)		35,226	34,403
Continuing Operations
Revenues	[1]	$ 118,007	$ 123,129
Direct operating expenses	[1]	(84,499)	(75,420)
Selling, general and administrative expenses	[1]	(87,144)	(94,631)
Depreciation and amortization		(14,259)	(6,133)
Other gains, net		1,497	2,000
Restructuring charges		(3,391)	0
Operating loss		(69,789)	(51,055)
Interest income		4,378	3,333
Other income (expense), net		42,196	(415)
Loss from continuing operations before income taxes		(23,215)	(48,137)
Income tax benefit		90,287	1,834
Income (loss) from continuing operations		67,072	(46,303)
Discontinued Operations
Less: Net loss attributable to nonredeemable noncontrolling interests from discontinued operations		0	(410)
Less: Net income attributable to redeemable noncontrolling interests from discontinued operations		$ 0	$ 1,124
[1]See Note 14. Related Party Transactions, for further information on related party revenues and expenses.

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Net income (loss)	$ 66,425	$ (44,043)
Other comprehensive loss, before income taxes:
Other comprehensive loss, net of income taxes	(6,045)	(12,626)
Less: Net income attributable to redeemable noncontrolling interests from discontinued operations		1,124
Comprehensive income (loss) attributable to Sphere Entertainment Co.’s stockholders	60,380	(57,383)
Continuing Operations
Other comprehensive loss, before income taxes:
Amortization of actuarial loss included in net periodic benefit cost	(241)	510
Cumulative translation adjustments	(7,919)	(16,080)
Other comprehensive loss, before income taxes	(8,160)	(15,570)
Income tax benefit	2,115	2,944
Other comprehensive loss, net of income taxes	(6,045)	(12,626)
Comprehensive income (loss)	60,380	(56,669)
Discontinued Operations
Other comprehensive loss, before income taxes:
Less: Net loss attributable to nonredeemable noncontrolling interests from discontinued operations	0	(410)
Less: Net income attributable to redeemable noncontrolling interests from discontinued operations	$ 0	$ 1,124

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2023
OPERATING ACTIVITIES:
Net income (loss)	$ 66,425	$ (44,043)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	14,259	29,755
Other gains, net	(1,497)	(2,000)
Amortization of deferred financing costs	1,085	1,304
Deferred income tax (benefit) expense	(91,585)	1,012
Share-based compensation expense	4,883	15,188
Non-cash lease expense	1,027	7,126
Net unrealized and realized loss (gains) on equity investments with readily determinable fair value and loss (earnings) in nonconsolidated affiliates	20,949	(671)
Other non-cash adjustments	67	242
Change in assets and liabilities:
Accounts receivable, net	(1,922)	14,293
Related party receivables and payables, net	(44,128)	(15,615)
Prepaid expenses and other current and non-current assets	(25,841)	(13,108)
Accounts payable, accrued and other current and non-current liabilities	(80,124)	(92,590)
Deferred revenue	43,567	25,468
Right-of-use lease assets and operating lease liabilities	(1,806)	(7,544)
Net cash used in operating activities	(94,641)	(81,183)
INVESTING ACTIVITIES:
Capital expenditures, net	(164,950)	(270,088)
Proceeds from sale of MSGE Retained Interest	256,501	0
Capitalized interest	(25,053)	(20,466)
Other investing activities	0	1,517
Proceeds from sale of equity securities	0	3,819
Net cash provided by (used in) investing activities	66,498	(285,218)
FINANCING ACTIVITIES:
Proceeds from Delayed Draw Term Loan Facility	65,000	0
Taxes paid in lieu of shares issued for equity-based compensation	(14,146)	(13,967)
Noncontrolling interest holders’ capital contributions	0	500
Distributions to noncontrolling interest holders	0	(530)
Distributions to related parties associated with the settlement of certain share-based awards	0	(571)
Proceeds from revolving credit facility	0	7,860
Principal repayments on long-term debt	0	(13,312)
Payments for financing costs	0	(3)
Net cash provided by (used in) financing activities	50,854	(20,023)
Effect of exchange rates on cash, cash equivalents, and restricted cash	(83)	(693)
Net increase (decrease) in cash, cash equivalents, and restricted cash	22,628	(387,117)
Cash, cash equivalents, and restricted cash at beginning of period	429,114	846,010	$ 846,010
Cash, cash equivalents, and restricted cash at end of period	451,742	458,893	429,114
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Capital expenditures incurred but not yet paid	122,393	35,986
Non-cash repayment of the Delayed Draw Term Loan Facility	65,512	0
Share-based compensation capitalized in property and equipment	906	910
Investments and loans to nonconsolidated affiliates	0	1,969
Related Party
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Capital expenditures incurred but not yet paid	16,084		13,412
Continuing Operations
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	14,259	6,133
Other gains, net	(1,497)	(2,000)
Share-based compensation expense	4,883	11,490
FINANCING ACTIVITIES:
Cash, cash equivalents, and restricted cash at beginning of period	429,114	760,312	760,312
Cash, cash equivalents, and restricted cash at end of period	451,742	325,748	429,114
Discontinued Operations
FINANCING ACTIVITIES:
Cash, cash equivalents, and restricted cash at beginning of period	0	85,698	85,698
Cash, cash equivalents, and restricted cash at end of period	$ 0	$ 133,145	$ 0

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS (Unaudited) - USD ($) $ in Thousands	Total	Total Sphere Entertainment Co. Stockholders’ Equity	Common Stock Issued	Additional Paid-In Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Loss	Non - redeemable Noncontrolling Interests
Balance at the beginning of the period at Jun. 30, 2022	$ 1,975,384	$ 1,963,221	$ 342	$ 2,301,970	$ (290,736)	$ (48,355)	$ 12,163
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	(45,167)	(44,757)			(44,757)		(410)
Other comprehensive loss	(12,626)	(12,626)				(12,626)
Share-based compensation	15,511	15,511		15,511
Tax withholding associated with shares issued for equity-based compensation	(13,967)	(13,967)		(13,967)
Contributions	500						500
Distributions	(909)	(379)		(379)			(530)
Balance at the end of the period at Sep. 30, 2022	1,918,726	1,907,003	342	2,303,135	(335,493)	(60,981)	11,723
Balance at the beginning of the period at Jun. 30, 2022	184,192
Increase (Decrease) in Redeemable Noncontrolling Interests [Roll Forward]
Less: Net income attributable to redeemable noncontrolling interests from discontinued operations	1,124
Noncontrolling interest non-cash acquisition attributable to redeemable noncontrolling interests	587
Noncontrolling interest, decrease from distributions to noncontrolling interest holders	(192)
Balance at the end of the period at Sep. 30, 2022	185,711
Balance at the beginning of the period at Jun. 30, 2023	2,583,865	2,583,865	347	2,376,420	212,036	(4,938)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	66,425	66,425			66,425
Other comprehensive loss	(6,045)	(6,045)				(6,045)
Share-based compensation	5,789	5,789		5,789
Tax withholding associated with shares issued for equity-based compensation	(14,146)	(14,146)	4	(14,150)
Balance at the end of the period at Sep. 30, 2023	2,635,888	$ 2,635,888	$ 351	$ 2,368,059	$ 278,461	$ (10,983)	$ 0
Balance at the end of the period at Sep. 30, 2023	$ 0

Description of Business and Bas

Description of Business and Basis of Presentation	3 Months Ended
	Sep. 30, 2023
Description Of Business And Basis Of Presentation [Abstract]
Description of Business and Basis of Presentation	Description of Business and Basis of Presentation Description of Business Sphere Entertainment Co. (the “Company”) is a premier live entertainment and media company comprised of two reportable segments, Sphere and MSG Networks. Sphere is a next-generation entertainment medium, and MSG Networks operates two regional sports and entertainment networks, as well as a direct-to-consumer and authenticated streaming product. Sphere : This segment reflects Sphere TM , a next-generation entertainment medium powered by cutting-edge technologies that enables multi-sensory storytelling at an unparalleled scale. The Company’s first Sphere opened in Las Vegas in September 2023. The venue can accommodate up to 20,000 guests and will host a wide variety of events year-round, including The Sphere Experience TM , which features original immersive productions, as well as concerts and residencies from renowned artists, and marquee sporting and corporate events. Supporting this strategy is Sphere Studios, which is home to a team of creative, production, technology and software experts who provide full in-house creative and production services. The studio campus in Burbank includes a 68,000-square-foot development facility, as well as Big Dome, a 28,000-square-foot, 100-foot high custom dome, with a quarter-sized version of the screen at Sphere in Las Vegas, that serves as a specialized screening, production facility, and lab for content at Sphere. MSG Networks: This segment is comprised of the Company’s regional sports and entertainment networks, MSG Network and MSG Sportsnet, as well as its direct-to-consumer and authenticated streaming product, MSG+. MSG Networks serves the New York designated market area, as well as other portions of New York, New Jersey, Connecticut and Pennsylvania and features a wide range of sports content, including exclusive live local games and other programming of the New York Knicks (the “Knicks”) of the National Basketball Association (the “NBA”) and the New York Rangers (the “Rangers”), New York Islanders (the “Islanders”), New Jersey Devils (the “Devils”) and Buffalo Sabres (the “Sabres”) of the National Hockey League (the “NHL”), as well as significant coverage of the New York Giants (the “Giants”) and the Buffalo Bills (the “Bills”) of the National Football League (the “NFL”). Sphere Entertainment Co. (formerly Madison Square Garden Entertainment Corp.) was incorporated on November 21, 2019 as a direct, wholly-owned subsidiary of Madison Square Garden Sports Corp. (“MSG Sports”). On April 17, 2020, MSG Sports distributed all outstanding common stock of the Company to MSG Sports’ stockholders (the “2020 Entertainment Distribution”). Unless the context otherwise requires, all references to “Sphere Entertainment” or the “Company” refer collectively to Sphere Entertainment Co., a holding company, and its direct and indirect subsidiaries. MSG Entertainment Distribution On April 20, 2023 (the “MSGE Distribution Date”), the Company distributed approximately 67% of the outstanding common stock of Madison Square Garden Entertainment Corp. (“MSG Entertainment”, formerly MSGE Spinco, Inc.) to its stockholders (the “MSGE Distribution”), with the Company retaining approximately 33% of the outstanding common stock of MSG Entertainment (in the form of MSG Entertainment Class A common stock) immediately following the MSGE Distribution (the “MSGE Retained Interest”). Following the MSGE Distribution Date, the Company retained the Sphere and MSG Networks businesses and MSG Entertainment now owns the traditional live entertainment business previously owned and operated by the Company through its Entertainment business segment, excluding the Sphere business. In the MSGE Distribution, stockholders of the Company received (a) one share of MSG Entertainment’s Class A common stock, par value $0.01 per share, for every share of the Company’s Class A common stock, par value $0.01 per share, held of record as of the close of business, New York City time, on April 14, 2023 (the “Record Date”), and (b) one share of MSG Entertainment’s Class B common stock, par value $0.01 per share, for every share of the Company’s Class B common stock, par value $0.01 per share, held of record as of the close of business, New York City time, on the Record Date. See Note 1. Description of Business and Basis of Presentation, to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended June 30, 2023 (the “2023 Form 10-K”) for more information. As of September 30, 2023, following the sales of portions of the MSGE Retained Interest and the repayment of the delayed draw term loan with MSG Entertainment using a portion of the MSGE Retained Interest (further discussed in Note 6. Investments in Nonconsolidated Affiliates and Note 10. Credit Facilities), the Company no longer holds any of the outstanding common stock of MSG Entertainment. As of April 20, 2023, the MSG Entertainment business met the criteria for discontinued operations. See Note 3. Discontinued Operations, to the consolidated financial statements included in the 2023 Form 10-K for more information about the MSGE Distribution. Tao Group Hospitality Disposition On May 3, 2023, the Company completed the sale of its 66.9% majority interest in TAO Group Sub-Holdings LLC (“Tao Group Hospitality”) to a subsidiary of Mohari Hospitality Limited, a global investment company focused on the luxury lifestyle and hospitality sectors (the “Tao Group Hospitality Disposition”). See Note 3. Discontinued Operations, to the consolidated financial statements included in the 2023 Form 10-K for more information about the Tao Group Hospitality Disposition. Basis of Presentation The Company reports on a fiscal year basis ending on June 30 th (“Fiscal Year”). In these unaudited condensed consolidated financial statements, the years ended on June 30, 2024 and 2023 are referred to as “Fiscal Year 2024” and “Fiscal Year 2023,” respectively. The Company has presented both the MSG Entertainment business and Tao Group Hospitality as discontinued operations for all periods presented. See Note 3. Discontinued Operations, for further discussion on accounting for the MSGE Distribution and Tao Group Hospitality Disposition. The accompanying condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and the instructions of Rule 10-01 of Regulation S-X of the Securities and Exchange Commission (the “ SEC”), and should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto for Fiscal Year 2023 included in the 2023 Form 10-K. In the opinion of the Company, the accompanying condensed consolidated financial statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of the Company’s financial position as of September 30, 2023 and its results of operations for the three months ended September 30, 2023, and 2022, and cash flows for the three months ended September 30, 2023, and 2022. The condensed consolidated financial statements and the accompanying notes as of September 30, 2023 were derived from audited annual consolidated financial statements but do not contain all of the footnote disclosures from the audited annual consolidated financial statements. The results of operations for the periods presented are not necessarily indicative of the results that might be expected for future interim periods or for the full year. Our MSG Networks segment earns a higher share of its annual revenues in the second and third quarters of its fiscal year as a result of MSG Networks’ advertising revenue being largely derived from the sale of inventory in its live NBA and NHL professional sports programming. Reclassifications For purposes of comparability, certain prior period amounts have been reclassified to conform to the current year presentation in accordance with GAAP.

Accounting Policies

Accounting Policies	3 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Accounting Policies	Accounting Policies Principles of Consolidation The condensed consolidated financial statements of the Company include the accounts of Sphere Entertainment Co. and its subsidiaries. They also historically included accounts of Tao Group Hospitality, MSG Entertainment, and Boston Calling Events, LLC (“BCE”) until their dispositions on May 3, 2023, April 20, 2023, and December 2, 2022, respectively. All significant intercompany transactions and balances have been eliminated in consolidation. Prior to their dispositions, Tao Group Hospitality and Boston Calling Events, LLC were consolidated with the equity owned by other stockholders shown as redeemable or nonredeemable noncontrolling interests of discontinued operations in the accompanying consolidated balance sheets, and the other stockholders’ portion of net earnings (loss) and other comprehensive income (loss) shown as net income (loss) or comprehensive income (loss) attributable to redeemable or nonredeemable noncontrolling interests from discontinued operations in the accompanying consolidated statements of operations and consolidated statements of comprehensive income (loss), respectively. See Note 3. Discontinued Operations, for details regarding the Tao Group Hospitality Disposition, and MSGE Distribution. See Note 2. Summary of Significant Accounting Policies, to the audited annual consolidated financial statements included in the 2023 Form 10-K regarding the classification of redeemable noncontrolling interests of Tao Group Hospitality. Use of Estimates The preparation of the accompanying condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenues and expenses. Such estimates include the provision for credit losses, valuation of investments, goodwill, intangible assets, deferred production costs, other long-lived assets, deferred tax assets, pension and other postretirement benefit obligations and the related net periodic benefit cost, and other liabilities. In addition, estimates are used in revenue recognition, rights fees, performance and share-based compensation, depreciation and amortization, litigation matters and other matters. Management believes its use of estimates in the condensed consolidated financial statements to be reasonable. Management evaluates its estimates on an ongoing basis using historical experience and other factors, including the general economic environment and actions it may take in the future. The Company adjusts such estimates when facts and circumstances dictate. However, these estimates may involve significant uncertainties and judgments and cannot be determined with precision. In addition, these estimates are based on management’s best judgment at a point in time and, as such, these estimates may ultimately differ from actual results. Changes in estimates resulting from weakness in the economic environment or other factors beyond the Company’s control could be material and would be reflected in the Company’s condensed consolidated financial statements in future periods. Production Costs for the Company’s Original Immersive Productions There have been no material changes to the Company’s accounting policies regarding direct operating expenses related to production costs, except to note that subsequent to September 30, 2023, the Company completed and debuted its first original immersive production, Postcard From Earth, which began amortizing during the second quarter of Fiscal Year 2024. Liquidity and Going Concern As of the date the accompanying unaudited condensed consolidated financial statements were issued (the “issuance date”), management evaluated the presence of the following conditions and events at the Company in accordance with Accounting Standards Update No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (Subtopic 205-40): As of September 30, 2023, the Company’s unrestricted cash and cash equivalents balance, inclusive of approximately $123,100 in advance cash proceeds primarily related to ticket sales, was $433,507, as compared to $131,965 as of June 30, 2023. Included in unrestricted cash and cash equivalents as of September 30, 2023 was $113,950 of cash and cash equivalents at MSG Networks, which is not available for distribution to the Company in order to maintain compliance with the covenants under the MSG Networks Credit Facilities (as defined under Note 10. Credit Facilities). As of September 30, 2023, the Company’s restricted cash balance was $18,235, as compared to $297,149 as of June 30, 2023, which included $275,000 required to be held in an account pledged as collateral for the LV Sphere Term Loan Facility until its release upon the Liquidity Covenant Reduction Date (as defined under Note 10. Credit Facilities), which occurred on August 8, 2023. The principal balance of the Company’s total debt outstanding as of September 30, 2023 was $1,207,250, including $932,250 of debt under the MSG Networks Credit Facilities. The balance under the MSG Networks Credit Facilities was reduced to $911,625 on October 2, 2023 upon MSG Networks’ completion of its required quarterly amortization payment. Our primary sources of liquidity are cash and cash equivalents and cash flows from the operations of our businesses. The Company’s uses of cash over the next 12 months beyond the issuance date are expected to be substantial and include working capital-related items (including funding our operations), capital spending (including the creation of additional content for Sphere), required debt service payments, and payments we expect to be made in connection with the refinancing of our indebtedness, and investments and related loans and advances that we may fund from time to time. We may also use cash to repurchase our common stock. Our decisions as to the use of our available liquidity will be based upon the ongoing review of the funding needs of our businesses, the optimal allocation of cash resources, and the timing of cash flow generation. To the extent that we desire to access alternative sources of funding through the capital and credit markets, market conditions could adversely impact our ability to do so at that time. Our ability to have sufficient liquidity to fund our operations and refinance the MSG Networks Credit Facilities is dependent on the ability of Sphere in Las Vegas to generate significant positive cash flow during Fiscal Year 2024. Although we anticipate that Sphere in Las Vegas will generate substantial revenue and adjusted operating income on an annual basis over time, there can be no assurance that guests, artists, promoters, advertisers and marketing partners will embrace this new platform. Original immersive productions, such as Postcard From Earth , have not been previously pursued on the scale of Sphere, which increases the uncertainty of our operating expectations. To the extent that our efforts do not result in viable shows, or to the extent that any such productions do not achieve expected levels of popularity among audiences, we may not generate the cash flows from operations necessary to fund our operations. To the extent we do not realize expected cash flows from operations from Sphere in Las Vegas, we would have to take several actions to improve our financial flexibility and preserve liquidity, including significant reductions in both labor and non-labor expenses as well as reductions and/or deferrals in capital spending. Therefore, while we currently believe we will have sufficient liquidity from cash and cash equivalents and cash flows from operations (including expected cash flows from operations from Sphere in Las Vegas) to fund our operations and service our credit facilities, which includes the Company’s expectation that MSG Networks will pay down $102,125 in required quarterly amortization payments on the MSG Networks Credit Facilities, as described below, no assurance can be provided our liquidity will be sufficient in the event any of the preceding uncertainties facing Sphere in Las Vegas are realized over the next 12 months beyond the issuance date. The Company also anticipates MSG Networks will pay a portion of its term loan upon refinancing of the MSG Networks Credit Facilities prior to its maturity in October 2024. As disclosed in Note 10. Credit Facilities, a ll of the outstanding borrowings under the MSG Networks Credit Facilities are guaranteed by the MSGN Guarantors (as defined under Note 10. Credit Facilities ) and secured by the MSGN Collateral (as defined under Note 10. Credit Facilities ) . Sphere Entertainment Co., Sphere Entertainment Group, LLC and the subsidiaries of Sphere Entertainment Group, LLC (collectively, the “Non-Credit Parties”) are not legally obligated to fund the outstanding borrowings under the MSG Networks Credit Facilities, nor are the assets of the Non-Credit Parties pledged as security under the MSG Networks Credit Facilities. Over the next 12 months beyond the issuance date, MSG Networks expects to make $102,125 in required quarterly amortization payments on the MSG Networks Credit Facilities. The remaining outstanding borrowings under the MSG Networks Credit Facilities of $829,125 are scheduled to mature within one year beyond the issuance date of the accompanying unaudited condensed consolidated financial statements. However, MSG Networks will be unable to generate sufficient operating cash flows over the next 12 months to settle the remaining outstanding borrowings under the MSG Networks Credit Facilities when they become due. Therefore, management plans to refinance the MSG Networks Credit Facilities prior to maturity. While MSG Networks has historically been able to refinance its indebtedness, management can provide no assurance MSG Networks will be able to refinance the MSG Networks Credit Facilities, or that such refinancing will be secured on terms that are acceptable to MSG Networks. In the event MSG Networks is unable to refinance the amount scheduled to mature under the MSG Networks Credit Facilities or secure alternative sources of funding through the capital and credit markets on acceptable terms, the lenders would retain their right to exercise all of their remedies under the MSG Networks Credit Facilities, which would include, but not be limited to, declaring an event of default and foreclosing on the MSGN Collateral. In the event of an exercise of post-default rights and remedies, the Company believes the lenders would have no further remedies or recourse against the Non-Credit Parties pursuant to the terms of the MSG Networks Credit Facilities. While this condition raises substantial doubt about the Company’s ability to continue as a going concern , for the reasons stated in this paragraph, we have concluded this condition has been effectively alleviated and the Company will be able to continue as a going concern for at least one year beyond the issuance date of the accompanying unaudited condensed consolidated financial statements.

Discontinued Operations

Discontinued Operations	3 Months Ended
	Sep. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations As a result of the MSGE Distribution and Tao Group Hospitality Disposition, the results of the traditional live entertainment business previously owned and operated by the Company through its MSG Entertainment business segment (excluding the Sphere business) and the entertainment dining and nightlife business previously owned and operated by the Company through its Tao Group Hospitality business segment, as well as transaction costs related to the MSGE Distribution and Tao Group Hospitality Disposition, have been classified in the accompanying condensed consolidated statement of operations as discontinued operations. See Note 3. Discontinued Operations, to the consolidated financial statements included in the 2023 Form 10-K for more information about the MSGE Distribution and Tao Group Hospitality Disposition. For the three months ended September 30, 2023, the Company recognized a loss from discontinued operations of $647, net of $294 of income tax benefit, related to the final purchase price adjustment from the Tao Group Hospitality Disposition. The table below sets forth operating results of discontinued operations for the three months ended September 30, 2022. Amounts presented below differ from historically reported results for the MSG Entertainment and Tao Group Hospitality business segments due to reclassifications and adjustments made for purposes of discontinued operations. Three Months Ended September 30, 2022 MSGE Tao Eliminations Total Revenues $ 146,075 $ 132,576 $ (562) $ 278,089 Direct operating expenses (100,663) (77,163) 376 (177,450) Selling, general and administrative expenses (28,729) (42,543) 462 (70,810) Depreciation and amortization (15,986) (7,636) — (23,622) Operating income 697 5,234 276 6,207 Interest income 608 13 — 621 Interest expense (1,025) (1,142) — (2,167) Other income, net 886 1,054 — 1,940 Income from operations before income taxes 1,166 5,159 276 6,601 Income tax expense (2,936) (1,405) — (4,341) Net (loss) income (1,770) 3,754 276 2,260 Less: Net income attributable to redeemable noncontrolling interests — 1,124 — 1,124 Less: Net loss attributable to nonredeemable noncontrolling interests (372) (38) — (410) Net (loss) income from discontinued operations attributable to Sphere Entertainment Co.’s stockholders $ (1,398) $ 2,668 $ 276 $ 1,546 As permitted under Accounting Standards Codification (“ASC”) Subtopic 205-20-50-5b(2), the Company has elected not to adjust the condensed consolidated statements of cash flows for the three months ended September 30, 2022 to exclude cash flows attributable to discontinued operations. The table below sets forth, for the period presented, significant selected financial information related to discontinued activities included in the accompanying condensed consolidated financial statements: Three Months Ended September 30, 2022 MSGE Tao Non-cash items included in net (loss) income: Depreciation and amortization $ 15,986 $ 7,636 Share-based compensation expense 1,646 2,052 Cash flows from investing activities: Capital expenditures, net $ 4,855 $ 5,769

Revenue Recognition

Revenue Recognition	3 Months Ended
	Sep. 30, 2023
Revenue Recognition [Abstract]
Revenue Recognition	Revenue Recognition Contracts with Customers See Note 2. Summary of Significant Accounting Policies and Note 4. Revenue Recognition, to the consolidated financial statements included in the 2023 Form 10-K for more information regarding the details of the Company’s revenue recognition policies. All revenue recognized in the condensed consolidated statements of operations is considered to be revenue from contracts with customers in accordance with ASC Topic 606, Revenue From Contracts with Customers, except for revenues from subleases that are accounted for in accordance with ASC Topic 842, Leases. Disaggregation of Revenue The following tables disaggregate the Company’s revenue by major source and reportable segment based upon the timing of transfer of goods or services to the customer for the three months ended September 30, 2023 and 2022: Three Months Ended September 30, 2023 Sphere MSG Networks Total Event-related (a) 4,059 — 4,059 Sponsorship, signage, Exosphere TM advertising, and suite licenses (b) 2,560 218 2,778 Media related, primarily from affiliation agreements (b) — 109,795 109,795 Other 431 215 646 Total revenues from contracts with customers 7,050 110,228 117,278 Revenues from subleases 729 — 729 Total revenues $ 7,779 $ 110,228 $ 118,007 Three Months Ended September 30, 2022 Sphere MSG Networks Total Sponsorship, signage, Exosphere advertising, and suite licenses (b) — 244 244 Media related, primarily from affiliation agreements (b) — 121,812 121,812 Other — 423 423 Total revenues from contracts with customers — 122,479 122,479 Revenues from subleases 650 — 650 Total revenues $ 650 $ 122,479 $ 123,129 _________________ (a) Event-related revenues consists of (i) ticket sales and other ticket-related revenues, (ii) venue license fees from third-party promoters, and (iii) food, beverage and merchandise sales. Event-related revenues are recognized at a point in time. As such, these revenues have been included in the same category in the table above. (b) See Note 2. Summary of Significant Accounting Policies, Revenue Recognition, and Note 4. Revenue Recognition, to the consolidated financial statements included in the 2023 Form 10-K for further details on the pattern of recognition of sponsorship, signage, suite licenses, and media related revenue. In addition to the disaggregation of the Company’s revenue by major source based upon the timing of transfer of goods or services to the customer disclosed above, the following tables disaggregate the Company’s consolidated revenues by type of goods or services in accordance with the required entity-wide disclosure requirements of ASC Subtopic 280-10-50-38 to 40 and the disaggregation of revenue required disclosures in accordance with ASC Subtopic 606-10-50-5 for the three months ended September 30, 2023 and 2022: Three Months Ended September 30, 2023 Sphere MSG Networks Total Ticketing and venue license fee revenues (a) $ 2,807 $ — $ 2,807 Sponsorship, signage, Exosphere advertising, and suite revenues 2,900 — 2,900 Food, beverage, and merchandise revenues 1,343 — 1,343 Media networks revenues (b) — 110,228 110,228 Total revenues from contracts with customers 7,050 110,228 117,278 Revenues from subleases 729 — 729 Total revenues $ 7,779 $ 110,228 $ 118,007 _________________ (a) Amounts include ticket sales, other ticket-related revenue, and venue license fees from the Company’s events such as (i) concerts, (ii) The Sphere Experience and (iii) other live entertainment and sporting events. (b) Primarily consists of affiliation fees from Distributors and, to a lesser extent, advertising revenues through the sale of commercial time and other advertising inventory during MSG Networks programming. Three Months Ended September 30, 2022 Sphere MSG Networks Total Media networks revenues (a) $ — $ 122,479 $ 122,479 Revenues from subleases 650 — 650 Total revenues $ 650 $ 122,479 $ 123,129 _________________ (a) Primarily consists of affiliation fees from Distributors and, to a lesser extent, advertising revenues through the sale of commercial time and other advertising inventory during MSG Networks programming. Contract Balances The following table provides information about contract balances from the Company’s contracts with customers as of September 30, 2023 and June 30, 2023: September 30, June 30, 2023 2023 Receivables from contracts with customers, net (a) $ 114,247 $ 115,039 Contract assets, current (b) 88 314 Deferred revenue, including non-current portion (c) 70,904 27,397 _________________ (a) Receivables from contracts with customers, net, which are reported in Accounts receivable and Prepaid expenses and other current assets in the Company’s condensed consolidated balance sheets, represent the Company’s unconditional rights to consideration under its contracts with customers. As of September 30, 2023 and June 30, 2023, the Company’s receivables from contracts with customers above included $0 and $2,730, respectively, related to various related parties. See Note 14. Related Party Transactions, for further details on these related party arrangements. (b) Contract assets primarily relate to the Company’s rights to consideration for goods or services transferred to customers, for which the Company does not have an unconditional right to bill as of the reporting date. Contract assets are transferred to accounts receivable once the Company’s right to consideration becomes unconditional. (c) Revenue recognized for the three months ended September 30, 2023 relating to the deferred revenue balance as of June 30, 2023 was $1,470. Transaction Price Allocated to the Remaining Performance Obligations As of September 30, 2023, the Company’s remaining performance obligations were approximately $84,141 of which 76% is expected to be recognized over the next two years and an additional 24% of the balance to be recognized in the following two years. This primarily relates to performance obligations under sponsorship agreements that have original expected durations longer than one year and for which the respective consideration is not variable. In developing the estimated revenue, the Company applies the allowable practical expedient and does not disclose information about remaining performance obligations that have original expected durations of one year or less.

Restructuring Charges

Restructuring Charges	3 Months Ended
	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
Restructuring Charges	Restructuring Charges During Fiscal Year 2024, the Company incurred costs for termination benefits for certain executives and employees in the Sphere segment. As a result, the Company recognized restructuring charges of $3,391 for the three months ended September 30, 2023, which are recorded in Accounts payable, accrued and other current liabilities and Related party payables, current. No restructuring charges were recorded for the three months ended September 30, 2022. Changes to the Company’s restructuring liability through September 30, 2023 were as follows: Restructuring Liability June 30, 2023 $ 8,891 Restructuring charges 3,391 Payments (6,804) September 30, 2023 $ 5,478

Investments in Nonconsolidated

Investments in Nonconsolidated Affiliates	3 Months Ended
	Sep. 30, 2023
Equity Method Investments, Joint Ventures And Cost Method Investments [Abstract]
Investments in Nonconsolidated Affiliates	Investments in Nonconsolidated Affiliates The Company’s investments in nonconsolidated affiliates, which are accounted for under the equity method of accounting or as equity investments without readily determinable fair value, are included within Other non-current assets in the accompanying condensed consolidated balance sheets and consisted of the following: Investment As of Ownership Percentage as of September 30, 2023 September 30, June 30, Equity method investments: SACO Technologies Inc. (“SACO”) 30 % $ 20,074 $ 22,246 Holoplot Loan (a) 20,576 20,971 Holoplot 25 % 1,417 1,542 MSG Entertainment (b) — % — 341,039 Equity investments without readily determinable fair values 8,721 8,721 Total investments in nonconsolidated affiliates $ 50,788 $ 394,519 _________________ (a) In January 2023, the Company, through an indirect subsidiary, extended financing to Holoplot GmbH (“Holoplot”) in the form of a three-year convertible loan (the “Holoplot Loan”) of €18,804, equivalent to $20,484 using the applicable exchange rate at the time of the transaction. Absent conversion, which is currently not available under the terms of the Holoplot Loan, the Holoplot Loan and interest accrued thereon are due and payable at the conclusion of the three year term. (b) As of September 30, 2023, following the sale of portions of the MSGE Retained Interest and the repayment of the DDTL Facility (as defined below) with MSG Entertainment using a portion of the MSGE Retained Interest, the Company no longer holds any of the outstanding common stock of MSG Entertainment. The Company elected the fair value option for its investment in MSG Entertainment as of June 30, 2023, when it held approximately 20% of the outstanding shares of common stock of MSG Entertainment (in the form of Class A common stock). The fair value of the investment was determined based on quoted market prices on the New York Stock Exchange (“NYSE”), which were classified within Level I of the fair value hierarchy. The following table summarizes the realized and unrealized gain (loss) on equity investments with and without readily determinable fair values, which is reported in Other income (expense), net, for the three months ended September 30, 2023 and 2022: Three Months Ended September 30, 2023 2022 Unrealized gain $ — $ 1,969 Realized loss from shares of MSG Entertainment Class A common stock sold (19,027) — Total realized and unrealized (loss) gain on equity investments $ (19,027) $ 1,969 Supplemental information on realized loss: Shares of MSG Entertainment Class A common stock disposed (a) 1,923 — Shares of MSG Entertainment Class A common stock sold (b) 8,221 — Cash proceeds from shares of MSG Entertainment Class A common stock sold $ 256,501 $ — _________________ (a) Refer to Note 10. Credit Facilities, for further explanation of the approximately 1,923 shares disposed related to the repayment of the DDTL Facility. (b) Shares sold of approximately 8,221 resulted in the cash proceeds from common stock sold.

Property and Equipment, net

Property and Equipment, net	3 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment, net	Property and Equipment, net As of September 30, 2023 and June 30, 2023, property and equipment, net consisted of the following: As of September 30, June 30, Land $ 77,617 $ 80,878 Buildings 2,300,506 69,049 Equipment, furniture, and fixtures 1,090,194 159,786 Leasehold improvements 18,491 18,491 Construction in progress 85,469 3,066,785 Total property and equipment, gross 3,572,277 3,394,989 Less accumulated depreciation and amortization (101,136) (87,828) Property and equipment, net $ 3,471,141 $ 3,307,161 The property and equipment balances above include $224,788 and $236,593 of capital expenditure accruals (primarily related to Sphere construction) as of September 30, 2023 and June 30, 2023, respectively, which are reflected in Accounts payable, accrued and other current liabilities in the accompanying condensed consolidated balance sheets. During the three months ended September 30, 2023, with the opening of Sphere, the Company placed $3,130,028 of construction in progress assets into service, and began depreciating them over their corresponding estimated useful lives. See Note 2. Summary of Significant Accounting Policies, to the consolidated financial statements included in the 2023 Form 10-K for details on the Company’s estimated useful lives for each major category of property and equipment. The Company recorded depreciation expense on property and equipment of $13,480 and $5,354 for the three months ended September 30, 2023, and 2022, respectively, which is recognized in Depreciation and amortization.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The carrying amounts of goodwill as of September 30, 2023 and June 30, 2023 are as follows: As of September 30, June 30, Sphere $ 32,299 $ 32,299 MSG Networks 424,508 424,508 Total Goodwill $ 456,807 $ 456,807 During the first quarter of Fiscal Year 2024, the Company performed its annual impairment test of goodwill and determined that there was no impairment of goodwill identified as of the impairment test date. The Company’s intangible assets subject to amortization, which relate to affiliate relationships, as of September 30, 2023 and June 30, 2023 were as follows: As of September 30, June 30, Gross carrying amount $ 83,044 $ 83,044 Accumulated amortization (65,913) (65,134) Intangible assets, net $ 17,131 $ 17,910 The company recognized amortization expense on intangible assets of $779 for the three months ended September 30, 2023, and 2022, which is recognized in Depreciation and amortization.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments See Note 11. Commitments and Contingencies, to the consolidated financial statements included in the 2023 Form 10-K for details on the Company’s commitments. The Company’s commitments as of June 30, 2023 included a total of $3,134,884 of contract obligations (primarily related to media rights agreements from the MSG Networks segment). During the three months ended September 30, 2023, the Company did not have any material changes in its non-cancelable contractual obligations (other than activities in the ordinary course business). See Note 10. Credit Facilities, for details of the principal repayments required under the Company’s various credit facilities. Legal Matters Fifteen complaints were filed in connection with the merger between a subsidiary of the Company and MSG Networks Inc. (the “Networks Merger”) by purported stockholders of the Company and MSG Networks Inc. Nine of these complaints involved allegations of materially incomplete and misleading information set forth in the joint proxy statement/prospectus filed by the Company and MSG Networks Inc. in connection with the Networks Merger. As a result of supplemental disclosures made by the Company and MSG Networks Inc. on July 1, 2021, all of the disclosure actions were voluntarily dismissed with prejudice prior to or shortly following the consummation of the Networks Merger. Six complaints involved allegations of fiduciary breaches in connection with the negotiation and approval of the Networks Merger and were consolidated into two remaining litigations. On September 10, 2021, the Court of Chancery of the State of Delaware (the “Court”) entered an order consolidating two derivative complaints filed by purported Company stockholders. The consolidated action is captioned: In re Madison Square Garden Entertainment Corp. Stockholders Litigation , C.A. No. 2021-0468-KSJM (the “MSG Entertainment Litigation”). The consolidated plaintiffs filed their Verified Consolidated Derivative Complaint on October 11, 2021. The complaint, which named the Company as only a nominal defendant, retained all of the derivative claims and alleged that the members of the board of directors and controlling stockholders violated their fiduciary duties in the course of negotiating and approving the Networks Merger. Plaintiffs sought, among other relief, an award of damages to the Company including interest, and plaintiffs’ attorneys’ fees. Pursuant to the indemnity rights in its bylaws and Delaware law, the Company advanced the costs incurred by defendants in this action, and defendants asserted indemnification rights in respect of any adverse judgment or settlement of the action. On March 14, 2023, the parties to the MSG Entertainment Litigation reached an agreement in principle to settle the MSG Entertainment Litigation, without admitting liability, on the terms and conditions set forth in a binding term sheet, which was incorporated into a long-form settlement agreement (the “MSGE Settlement Agreement”) that was filed with the Court on April 20, 2023. The MSGE Settlement Agreement provided for, among other things, the final dismissal of the MSG Entertainment Litigation in exchange for a settlement payment to the Company of $85,000, subject to customary reduction for attorneys’ fees and expenses, in an amount to be determined by the Court. The settlement’s amount was fully funded by the other defendants’ insurers. The MSGE Settlement Agreement was approved by the Court on August 14, 2023, which constituted the final judgment in the action. A realized gain of $62,647 was recognized in Other income (expense), net on the condensed combined statement of operations in connection with the settlement payment to the Company. On September 27, 2021, the Court entered an order consolidating four complaints filed by purported former stockholders of MSG Networks Inc. The consolidated action is captioned: In re MSG Networks Inc. Stockholder Class Action Litigation, C.A. No. 2021-0575-KSJM (the “MSG Networks Litigation”). The consolidated plaintiffs filed their Verified Consolidated Stockholder Class Action Complaint on October 29, 2021. The complaint asserted claims on behalf of a putative class of former MSG Networks Inc. stockholders against each member of the board of directors of MSG Networks Inc. and the controlling stockholders prior to the Networks Merger. Plaintiffs alleged that the MSG Networks Inc. board of directors and controlling stockholders breached their fiduciary duties in negotiating and approving the Networks Merger. The Company was not named as a defendant but was subpoenaed to produce documents and testimony related to the Networks Merger. Plaintiffs sought, among other relief, monetary damages for the putative class and plaintiffs’ attorneys’ fees. Pursuant to the indemnity rights in its bylaws and Delaware law, the Company advanced the costs incurred by defendants in this action, and defendants asserted indemnification rights in respect of any adverse judgment or settlement of the action. On April 6, 2023, the parties to the MSG Networks Litigation reached an agreement in principle to settle the MSG Networks Litigation , without admitting liability, on the terms and conditions set forth in a binding term sheet, which was incorporated into a long-form settlement agreement (the “MSGN Settlement Agreement”) that was filed with the Court on May 18, 2023. The MSGN Settlement Agreement provided for, among other things, the final dismissal of the MSG Networks Litigation in exchange for a settlement payment to the plaintiffs and the class of $48,500, of which $28,000 has been paid as of September 30, 2023, with $20,500 accrued for in Accounts payable, accrued and other current liabilities . MSG Networks has a dispute with its insurers over whether and to what extent there is insurance coverage for the settlement. Unless MSG Networks Inc. and the insurers settle that insurance dispute, it is expected to be resolved in a pending Delaware insurance coverage action. In the interim, and subject to final resolution of the parties’ insurance coverage dispute, certain of MSG Networks’ insurers agreed to advance $20,500 to fund the settlement and related class notice costs. The MSGN Settlement Agreement was approved by the Court on August 14, 2023, which constituted the final judgment in the action. The Company is a defendant in various other lawsuits. Although the outcome of these other lawsuits cannot be predicted with certainty (including the extent of available insurance, if any), management does not believe that resolution of these other lawsuits will have a material adverse effect on the Company.

Credit Facilities

Credit Facilities	3 Months Ended
	Sep. 30, 2023
Line of Credit Facility [Abstract]
Credit Facilities	Credit Facilities See Note 12. Credit Facilities, to the consolidated financial statements included in the 2023 Form 10-K for more information regarding the Company’s credit facilities. The following table summarizes the presentation of the outstanding balances under the Company’s credit agreements as of September 30, 2023 and June 30, 2023: As of September 30, June 30, Current portion MSG Networks Term Loan $ 103,125 $ 82,500 Total Current portion of long-term debt $ 103,125 $ 82,500 As of September 30, 2023 June 30, 2023 Principal Unamortized Deferred Financing Costs Net Principal Unamortized Deferred Financing Costs Net Non-current portion MSG Networks Term Loan $ 829,125 $ (1,185) $ 827,940 $ 849,750 $ (1,483) $ 848,267 LV Sphere Term Loan Facility 275,000 (4,605) 270,395 275,000 (4,880) 270,120 Long-term debt, net of deferred financing costs $ 1,104,125 $ (5,790) $ 1,098,335 $ 1,124,750 $ (6,363) $ 1,118,387 MSG Networks Credit Facilities General. MSGN Holdings, L.P. (“MSGN L.P.”), MSGN Eden, LLC, an indirect subsidiary of the Company and the general partner of MSGN L.P., Regional MSGN Holdings LLC, an indirect subsidiary of the Company and the limited partner of MSGN L.P. (collectively with MSGN Eden, LLC, the “MSGN Holdings Entities”), and certain subsidiaries of MSGN L.P. have senior secured credit facilities pursuant to a credit agreement (as amended and restated on October 11, 2019, the “MSGN Credit Agreement”) consisting of: (i) an initia l $1,100,000 term l oan facility (the “MSGN Term Loan Facility”) and ( ii) a $250,000 revolving credit facility (the “MSGN Revolving Credit Facility” and, together with the MSGN Term Loan Facility, the “MSG Networks Credit Facilities”), each with a term of five years. Up to $35,000 of the MSGN Revolving Credit Facility is available for the issuance of letters of credit. As of September 30, 2023, there were no borrowings or letters of credit issued and outstanding under the MSGN Revolving Credit Facility. Interest Rates. Borrowings under the MSGN Credit Agreement bear interest at a floating rate, which at the option of MSGN L.P. may be either (i) a base rate plus an additional rate ranging from 0.25% to 1.25% per annum (determined based on a total net leverage ratio) (the “MSGN Base Rate”), or (ii) adjusted Term SOFR (i.e., Term SOFR plus 0.10%) plus an additional rate ranging from 1.25% to 2.25% per annum (determined based on a total net leverage ratio). Upon a payment default in respect of principal, interest or other amounts due and payable under the MSGN Credit Agreement or related loan documents, default interest will accrue on all overdue amounts at an additional rate of 2.00% per annum. The MSGN Credit Agreement requires that MSGN L.P. pay a commitment fee ranging from 0.225% to 0.30% (determined based on a total net leverage ratio) in respect of the average daily unused commitments under the MSGN Revolving Credit Facility. MSGN L.P. will also be required to pay customary letter of credit fees, as well as fronting fees, to banks that issue letters of credit. The interest rate on the MSGN Term Loan Facility as of September 30, 2023 was 7.42% . Principal Repayments. Subject to customary notice and minimum amount conditions, MSGN L.P. may voluntarily repay outstanding loans under the MSGN Credit Agreement at any time, in whole or in part, without premium or penalty (except for customary breakage costs with respect to Eurodollar loans). The MSGN Term Loan Facility amortizes quarterly in accordance with its terms beginning March 31, 2020 through September 30, 2024 with a final maturity date of October 11, 2024. MSGN L.P. is required to make mandatory prepayments in certain circumstances, including without limitation from the net cash proceeds of certain sales of assets (including MSGN Collateral) or casualty insurance and/or condemnation recoveries (subject to certain reinvestment, repair or replacement rights) and the incurrence of certain indebtedness, subject to certain exceptions. Covenants. The MSGN Credit Agreement generally requires the MSGN Holdings Entities and MSGN L.P. and its restricted subsidiaries on a c onsolidated basis to comply with a maximum total leverage ratio of 5.50:1.00, subject, at the option of MSGN L.P. to an upward adjustment to 6.00:1.00 during the continuance of certain events. As of September 30, 2023, the total leverage ratio coverage ratio was 5.27:1:00. In addition, the MSGN Credit Agreement requires a minimum interest coverage ratio of 2.00:1.00 for the MSGN Holdings Entities and MSGN L.P. and its restricted subsidiaries on a consolidated basis. As of September 30, 2023, the interest coverage ratio was 2.50:1:00. All borrowings under the MSGN Credit Agreement are subject to the satisfaction of customary conditions, including absence of a default and accuracy of representations and warranties. As of September 30, 2023, the MSGN Holdings Entities and MSGN L.P. and its restricted subsidiaries on a consolidated basis were in compliance with the covenants. In addition to the financial covenants discussed above, the MSGN Credit Agreement and the related security agreement contain certain customary representations and warranties, affirmative covenants, and events of default. The MSGN Credit Agreement contains certain restrictions on the ability of MSGN L.P. and its restricted subsidiaries to take certain actions as provided in (and subject to various exceptions and baskets set forth in) the MSGN Credit Agreement, including the following: (i) incurring additional indebtedness and contingent liabilities; (ii) creating liens on certain assets; (iii) making investments, loans or advances in or to other persons; (iv) paying dividends and distributions or repurchasing capital stock; (v) changing their lines of business; (vi) engaging in certain transactions with affiliates; (vii) amending specified material agreements; (viii) merging or consolidating; (ix) making certain dispositions; and (x) entering into agreements that restrict the granting of liens. The MSGN Holdings Entities are also subject to customary passive holding company covenants. Guarantors and Collateral. All obligations under the MSGN Credit Agreement are guaranteed by the MSGN Holdings Entities and MSGN L.P.’s existing and future direct and indirect domestic subsidiaries that are not designated as excluded subsidiaries or unrestricted subsidiaries (the “MSGN Subsidiary Guarantors,” and together with the MSGN Holdings Entities, the “MSGN Guarantors”). All obligations under the MSGN Credit Agreement, including the guarantees of those obligations, are secured by certain assets of MSGN L.P. and each MSGN Guarantor (collectively, “MSGN Collateral”), including, but not limited to, a pledge of the equity interests in MSGN L.P. held directly by the Holdings Entities and the equity interests in each MSGN Subsidiary Guarantor held directly or indirectly by MSGN L.P. LV Sphere Term Loan Facility General. On December 22, 2022, MSG Las Vegas, LLC (“MSG LV”), an indirect, wholly-owned subsidiary of the Company, entered into a credit agreement with JP Morgan Chase Bank, N.A., as administrative agent and the lenders party thereto, providing for a five-year, $275,000 senior secured term loan facility (the “LV Sphere Term Loan Facility”). Interest Rates . Borrowings under the LV Sphere Term Loan Facility bear interest at a floating rate, which at the option of MSG LV may be either (i) a base rate plus a margin of 3.375% per annum or (ii) adjusted Term SOFR (i.e., Term SOFR plus 0.10%) plus a margin of 4.375% per annum. The interest rate on the LV Sphere Term Loan Facility as of September 30, 2023 wa s 9.80%. Principal Repayments . The LV Sphere Term Loan Facility will mature on December 22, 2027. The principal obligations under the LV Sphere Term Loan Facility are due at the maturity of the facility, with no amortization payments prior to maturity. Under certain circumstances, MSG LV is required to make mandatory prepayments on the loan, including prepayments in an amount equal to the net cash proceeds of casualty insurance and/or condemnation recoveries (subject to certain reinvestment, repair or replacement rights), subject to certain exceptions. Covenants . The LV Sphere Term Loan Facility and related guaranty by Sphere Entertainment Group include financial covenants requiring MSG LV to maintain a specified minimum debt service coverage ratio and requiring Sphere Entertainment Group to maintain a specified minimum liquidity level. The debt service coverage ratio covenant begins testing in the fiscal quarter ending December 31, 2023 on a historical basis and, beginning with the first fiscal quarter occurring after the date on which the first ticketed performance or event open to the general public occurs at Sphere in Las Vegas, is also tested on a prospective basis. Both the historical and prospective debt service coverage ratios are set at 1.35:1. In addition, among other conditions, MSG LV is not permitted to make distributions to Sphere Entertainment Group unless the historical and prospective debt service coverage ratios are at least 1.50:1. Following the Liquidity Covenant Reduction Date (as defined below), the minimum liquidity level for Sphere Entertainment Group is set at $50,000, with $25,000 required to be held in cash or cash equivalents. Prior to the Liquidity Covenant Reduction Date, the minimum liquidity level for Sphere Entertainment Group was set at $100,000, with $75,000 required to be held in cash or cash equivalents, which amounts (in addition to certain cash proceeds from the sale of the MSGE Retained Interest) were required to be held in an account pledged as collateral for the LV Sphere Term Loan Facility until its release upon the Liquidity Covenant Reduction Date (the “Pledged Account”). The Liquidity Covenant Reduction Date occurred on August 8, 2023, once Sphere in Las Vegas was substantially completed and certain of its systems were ready to be used in live, immersive events (the “Liquidity Covenant Reduction Date”). The minimum liquidity level was tested on the closing date and is tested as of the last day of each fiscal quarter thereafter based on Sphere Entertainment Group’s unencumbered liquidity, consisting of cash and cash equivalents and available lines of credit, as of such date. Following the completion of the MSGE Distribution, the MSGE Retained Interest was pledged to secure the LV Sphere Term Loan Facility and was released as collateral upon the Liquidity Covenant Reduction Date. In addition to the covenants described above, the LV Sphere Term Loan Facility and the related guaranty and security and pledge agreements contain certain customary representations and warranties, affirmative and negative covenants and events of default. The LV Sphere Term Loan Facility contains certain restrictions on the ability of MSG LV and Sphere Entertainment Group to take certain actions as provided in (and subject to various exceptions and baskets set forth in) the LV Sphere Term Loan Facility and the related guaranty and security and pledge agreements, including the following: (i) incur additional indebtedness; (ii) until the occurrence of the Liquidity Covenant Reduction Date, create liens on Sphere in Las Vegas, the MSGE Retained Interest or the real property intended for development as Sphere in London; (iii) make investments, loans or advances in or to other persons; (iv) pay dividends and distributions (which will restrict the ability of MSG LV to make cash distributions to the Company); (v) change its lines of business; (vi) engage in certain transactions with affiliates; (vii) amend organizational documents; (viii) merge or consolidate; and (ix) make certain dispositions. Guarantors and Collateral . All obligations under the LV Sphere Term Loan Facility are guaranteed by Sphere Entertainment Group. All obligations under the LV Sphere Term Loan Facility, including the guarantees of those obligations, are secured by all of the assets of MSG LV and certain assets of Sphere Entertainment Group including, but not limited to, MSG LV’s leasehold interest in the land on which Sphere in Las Vegas is located, a pledge of all of the equity interests held directly by Sphere Entertainment Group in MSG LV and, until the Liquidity Covenant Reduction Date, the Pledged Account and a pledge of the MSGE Retained Interest. Delayed Draw Term Loan Facility On April 20, 2023, the Company entered into a delayed draw term loan facility (the “DDTL Facility”) with MSG Entertainment Holdings, LLC (“MSG Entertainment Holdings”). Pursuant to the DDTL Facility, MSG Entertainment Holdings committed to lend up to $65,000 in delayed draw term loans to the Company on an unsecured basis for a period of 18 months following the consummation of the MSGE Distribution. On July 14, 2023, the Company drew down the full amount of the $65,000 under the DDTL Facility. On August 9, 2023, the Company repaid all amounts outstanding under the DDTL Facility (including accrued interest and commitment fees) by delivering to MSG Entertainment Holdings approximately 1,923 shares of MSG Entertainment Class A common stock. Interest payments and loan principal repayments made by the Company under the credit agreements were as follows: Interest Payments Loan Principal Repayments Three Months Ended Three Months Ended September 30, September 30, 2023 2022 2023 2022 MSG Networks Credit Facilities $ 17,500 $ 9,596 $ — $ 12,375 LV Sphere Term Loan Facility 6,745 — — — Delayed Draw Term Loan Facility 460 — 65,000 — Total Payments $ 24,705 $ 9,596 $ 65,000 $ 12,375 The carrying value and fair value of the Company’s financial instruments reported in the accompanying condensed consolidated balance sheets are as follows: As of September 30, 2023 June 30, 2023 Carrying Value (a) Fair Carrying Value (a) Fair Liabilities: MSG Networks Credit Facilities $ 932,250 $ 927,589 $ 932,250 $ 927,589 LV Sphere Term Loan Facility 275,000 273,625 275,000 272,250 Total Long-term debt $ 1,207,250 $ 1,201,214 $ 1,207,250 $ 1,199,839 _________________ (a) The total carrying value of the Company’s financial instruments as of September 30, 2023 and June 30, 2023 is equal to the current and non-current principal payments for the Company’s credit agreements excluding unamortized deferred financing costs of $5,790 and $6,363, respectively. The Company’s long-term debt is classified within Level II of the fair value hierarchy as it is valued using quoted indices of similar instruments for which the inputs are readily observable.

Pension Plans and Other Postret

Pension Plans and Other Postretirement Benefit Plan	3 Months Ended
	Sep. 30, 2023
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Pension Plans and Other Postretirement Benefit Plan	Pension Plans and Other Postretirement Benefit Plan The Company sponsors (i) both funded and unfunded and qualified and non-qualified pension plans, including the Networks 1212 Plan, Networks Excess Cash Balance Plan, and the Networks Excess Retirement Plan (together, the “Networks Plans”), (ii) an excess savings plan and (iii) a postretirement benefit plan (the “Postretirement Plan”). In connection with the MSGE Distribution, the Company established an unfunded non-contributory, non-qualified frozen excess cash balance plan (the “Sphere Excess Plan”) covering certain employees who participated in the pre-MSGE Distribution cash balance plan, which was transferred to MSGE Entertainment in connection with the MSGE Distribution. The Networks Plans and Sphere Excess Plans are collectively referred to as the “Pension Plans.” Prior to the MSGE Distribution, the Company sponsored two contributory welfare plans which provided certain postretirement healthcare benefits to certain employees hired prior to January 1, 2001. The sponsorship of the Postretirement Plan covering Networks employees was retained by the Company while the postretirement plan covering MSGE employees was transferred to MSG Entertainment in connection with MSGE Distribution. In addition, the liabilities associated with the postretirement plan for MSGE employees were transferred from the Company to MSG Entertainment in connection with the MSGE Distribution. See Note 13. Pension Plans and Other Postretirement Benefit Plans, to the consolidated financial statements included in the 2023 Form 10-K for more information regarding these plans. Defined Benefit Pension Plans and Postretirement Benefit Plan The following table presents components of net periodic benefit cost for the Pension Plans and Postretirement Plan included in the accompanying condensed consolidated statements of operations for the three months ended September 30, 2023 and 2022. Service cost is recognized in direct operating expenses and selling, general and administrative expenses. All other components of net periodic benefit cost are reported in Other expense, net. Pension Plans Postretirement Plan Three Months Ended Three Months Ended September 30, September 30, 2023 2022 2023 2022 Service cost $ 61 $ 123 $ 5 $ 15 Interest cost 439 1,189 17 19 Expected return on plan assets (213) (1,719) — — Recognized actuarial loss (gain) (224) 501 (17) 9 Net periodic benefit cost $ 63 $ 94 $ 5 $ 43 Contributions for Qualified Defined Benefit Plans The Company sponsors one non-contributory, qualified defined benefit pension plan covering certain of its union employees, the “Networks 1212 Plan.” During the three months ended September 30, 2023, the Company contributed $500 to the Networks 1212 Plan. Defined Contribution Plans The Company sponsors the MSGN Holdings, L.P. Excess Savings Plan, the Sphere Entertainment Excess Savings Plan, and the Madison Square Garden 401(k) Savings Plan (collectively, “Savings Plans”). For the three months ended September 30, 2023 and 2022, expenses related to the Savings Plans included in the accompanying condensed consolidated and combined statements of operations are as follows: Three Months Ended September 30, 2023 2022 Continuing Operations $ 1,210 $ 1,387 Discontinued Operations — $ 1,178 Total Savings Plan Expenses $ 1,210 $ 2,565 Executive Deferred Compensation See Note 13. Pension Plans and Other Postretirement Benefit Plans, included in the Company’s Audited Consolidated Annual Financial Statements for more information regarding the Company’s Executive Deferred Compensation Plan (the “Deferred Compensation Plan”). The Company recorded compensation income of $107 and $154 for the three months ended September 30, 2023 and 2022, respectively, within Selling, general, and administrative expenses in the condensed, consolidated statements of operations to reflect the remeasurement of the Deferred Compensation Plan liability. In addition, the Company recorded loss of $107 and $154 for the three months ended September 30, 2023 and 2022, respectively, within Other income (expense), net in the condensed, consolidated statements of operations to reflect remeasurement of the fair value of assets under the Deferred Compensation Plan. The following table summarizes amounts recognized related to the Deferred Compensation Plan in the condensed consolidated and combined balance sheets: As of September 30, June 30, Non-current assets (included in Other non-current assets) $ 2,536 $ 1,087 Non-current liabilities (included in Other non-current liabilities) $ (2,550) $ (1,087)

Share-based Compensation

Share-based Compensation	3 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Share-based Compensation	Share-based Compensation The Company has three share-based compensation plans: the 2020 Employee Stock Plan, the 2020 Stock Plan for Non-Employee Directors and the MSG Networks Inc. 2010 Employee Stock Plan. See Note 14. Share-based Compensation, to the consolidated financial statement included in the 2023 Form 10-K for more detail on these plans. Share-based compensation expense for the Company’s restricted stock units (“RSUs”), performance stock units (“PSUs”) and/or stock options are recognized in the condensed consolidated statements of operations as a component of direct operating expenses or selling, general and administrative expenses. The following table summarizes the Company’s share-based compensation expense: Three Months Ended September 30, 2023 2022 Share-based compensation (a) $ 4,883 $ 11,490 Fair value of awards vested (b) $ 30,153 $ 32,132 _________________ (a) Share-based compensation excludes costs that have been capitalized of $906 and $910 for the three months ended September 30, 2023 and 2022, respectively. (b) To fulfill required statutory tax withholding obligations for the applicable income and other employment taxes, RSUs and PSUs with an aggregate value of $13,976 and $14,517 were retained by the Company during the three months ended September 30, 2023, and 2022, respectively. As of September 30, 2023, there was $55,963 of unrecognized compensation cost related to unvested RSUs and PSUs held by the Company’s employees. The cost is expected to be recognized over a weighted-average period of approximately 2.47 years. For the three months ended September 30, 2023, weighed-average shares used in the calculation for diluted EPS consisted of 34,911 weighed-average shares for basic EPS and the dilutive effect of 315 shares issuable under share-based compensation plans. For the three months ended September 30, 2022, weighed-average shares used in the calculation for diluted EPS consisted of 34,403 weighed-average shares for basic EPS. For the three months ended September 30, 2023, weighted-average anti-dilutive shares primarily consisted of approximately 690 units of RSUs and stock options and were excluded in the calculation of diluted earnings per share because their effect would have been anti-dilutive. For the three months ended September 30, 2022, all RSUs and stock options were excluded from the anti-dilutive calculation because the Company reported a net loss for the period and, therefore, their impact on reported loss per share would have been antidilutive. Award Activity RSUs During the three months ended September 30, 2023 and 2022, approximately 449 and 598 RSUs were granted and approximately 564 and 493 RSUs vested, respectively. PSUs During the three months ended September 30, 2023 and 2022, approximately 404 and 566 PSUs were granted and approximately 241 and 82 PSUs vested, respectively.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Sep. 30, 2023
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders’ Equity Preferred Stock The Company is authorized to issue 15,000 shares of preferred stock, par value $0.01. As of September 30, 2023 and June 30, 2023, no shares of preferred stock were outstanding. Stock Repurchase Program On March 31, 2020, the Company’s Board of Directors authorized the repurchase of up to $350,000 of the Company’s Class A Common Stock. The program was re-authorized by the Company’s Board of Directors on March 29, 2023. Under the authorization, shares of Class A Common Stock may be purchased from time to time in accordance with applicable insider trading and other securities laws and regulations. The timing and amount of purchases will depend on market conditions and other factors. The Company has not engaged in any share repurchase activities under its share repurchase program to date. Accumulated Other Comprehensive Loss The following tables detail the components of accumulated other comprehensive loss: Three Months Ended September 30, 2023 Pension Plans and Postretirement Plan Cumulative Accumulated Balance as of June 30, 2023 $ (5,138) $ 200 $ (4,938) Other comprehensive loss: Other comprehensive loss before reclassifications — (7,919) (7,919) Amounts reclassified from accumulated other comprehensive loss (a) (241) — (241) Income tax benefit 63 2,052 2,115 Other comprehensive loss, total (178) (5,867) (6,045) Balance as of September 30, 2023 $ (5,316) $ (5,667) $ (10,983) Three Months Ended September 30, 2022 Pension Plans and Postretirement Plan Cumulative Accumulated Balance as of June 30, 2022 $ (40,287) $ (8,068) $ (48,355) Other comprehensive income (loss): Other comprehensive loss before reclassifications — (16,080) (16,080) Amounts reclassified from accumulated other comprehensive loss (a) 510 — 510 Income tax (expense) benefit (10) 2,954 2,944 Other comprehensive income (loss), total 500 (13,126) (12,626) Balance as of September 30, 2022 $ (39,787) $ (21,194) $ (60,981) _________________ (a) Amounts reclassified from accumulated other comprehensive loss represent the amortization of net actuarial loss and net unrecognized prior service credit included in net periodic benefit cost, which is reflected under Other income (expense), net in the accompanying condensed consolidated statements of operations (see Note 11. Pension Plans and Other Postretirement Benefit Plans).

Related Party Transactions

Related Party Transactions	3 Months Ended
	Sep. 30, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions As of September 30, 2023, certain m embers of the Dolan family, including certain trusts for the benefit of members of the Dolan family (collectively, the “Dolan Family Group”), for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, collectively beneficially owned 100% of the Company’s outstanding Class B Common Stock and approximately 5.6% of the Company’s outstanding Class A Common Stock (inclusive of options exercisable within 60 days of September 30, 2023 ). Such shares of the Company’s Class A Common Stock and Class B Common Stock, collectively, represent approximately 72.1% of the aggregate voting power of the Company’s outstanding common stock. Members of the Dolan family are also the controlling stockholders of MSG Entertainment, MSG Sports and AMC Networks Inc. See Note 17. Related Party Transactions, to the consolidated financial statements included in the 2023 Form 10-K for a description of the Company’s related party arrangements. There have been no material changes in such related party arrangements except as described below. The Company has entered into arrangements with (i) MSG Sports, pursuant to which MSG Sports provides certain sponsorship and other business operations services to the Company in exchange for service fees, (ii) MSGE Entertainment, pursuant to which MSG Entertainment provides certain sponsorship-related account management services to the Company in exchange for service fees, and (iii) MSG Sports and MSG Entertainment, pursuant to which the three companies have agreed to allocate expenses in connection with the use by each company of aircraft owned or leased by MSG Entertainment and MSG Sports. The Company has also entered into certain commercial agreements with its equity method investment nonconsolidated affiliates in connection with Sphere. The Company recorded $5,668 and $50,670 for the three months ended September 30, 2023 and 2022, respectively , of capital expenditures in connection with services provided to the Company under these agreements. As of September 30, 2023 and June 30, 2023, accrued liabilities associated with related parties were $16,084 and $13,412, respectively, and are reported under Accounts payable, accrued and other current liabilities in the accompanying condensed consolidated balance sheets. From time to time the Company enters into arrangements with 605, LLC (“605”). Kristin Dolan, a director of the Company and the spouse of James L. Dolan, the Executive Chairman and Chief Executive Officer of the Company, founded and was the Chief Executive Officer of 605, an audience measurement and data analytics company in the media and entertainment industries, until February 2023. The Company’s Audit Committee approved the entry into one or more agreements with 605 to provide certain data analytics services to the Company for an aggregate amount of up to $1,000. On September 13, 2023, 605 was sold to iSpot.tv, and James L. Dolan and Kristin A. Dolan now hold a minority interest in iSpot.tv. As a result, from and after September 13, 2023, 605 is no longer considered to be a related party. Revenues and Operating Expenses The following table summarizes the composition and amounts of the transactions with the Company’s affiliates. These amounts are reflected in revenues and operating expenses in the accompanying condensed consolidated statements of operations for the three months ended September 30, 2023 and 2022: Three Months Ended September 30, 2023 2022 Revenues $ 390 $ — Operating expenses (credits): Media rights fees $ 44,185 42,767 Cost reimbursement from MSG Sports - MSG Sports Services Agreement — (9,517) Corporate general and administrative expenses, net - MSG Entertainment Transition Services Agreement (a) 30,337 — Origination, master control and technical services 1,257 1,232 Other operating expenses, net 544 (11) Total operating expenses, net (b) $ 76,323 $ 34,471 _________________ (a) Included in Corporate general and administrative expenses, net - MSG Entertainment Transition Services Agreement are $2,805 related to Restructuring charges for employees who provided services to the Company under the MSG Entertainment Transition Services Agreement. (b) Of the total operating expenses, net, $46,078 and $44,248 for three months ended September 30, 2023 and 2022, respectively, are included in direct operating expenses in the accompanying condensed consolidated statements of operations, and $30,245 and $(9,777) for three months ended September 30, 2023 and 2022, respectively, are included as net credits in selling, general, and administrative expenses. Revenues Revenues from related parties relate primarily to certain advertising agreements between MSG Networks and MSG Sports.

Segment Information

Segment Information	3 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Segment Information	Segment Information As of September 30, 2023, the Company was comprised of two reportable segments: Sphere and MSG Networks. The Company takes into account whether two or more operating segments can be aggregated together as one reportable segment as well as the type of discrete financial information that is available and regularly reviewed by its Chief Operating Decision Maker. The Company evaluates segment performance based on several factors, of which the key financial measure is adjusted operating income (loss), a non-GAAP financial measure. We define adjusted operating income (loss) as operating income (loss) excluding: (i) depreciation, amortization and impairments of property and equipment, goodwill and intangible assets, (ii) amortization for capitalized cloud computing arrangement costs, (iii) share-based compensation expense, (iv) restructuring charges or credits, (v) merger and acquisition-related costs, including merger-related litigation expenses, (vi) gains or losses on sales or dispositions of businesses and associated settlements, (vii) the impact of purchase accounting adjustments related to business acquisitions, and (viii) gains and losses related to the remeasurement of liabilities under the Company’s Executive Deferred Compensation Plan (which was established in November 2021). The Company believes that the exclusion of share-based compensation expense or benefit allows investors to better track the performance of the Company’s business without regard to the settlement of an obligation that is not expected to be made in cash. The Company eliminates merger and acquisition-related costs, when applicable, because the Company does not consider such costs to be indicative of the ongoing operating performance of the Company as they result from an event that is of a non-recurring nature, thereby enhancing comparability. In addition, management believes that the exclusion of gains and losses related to the remeasurement of liabilities under the Company’s Executive Deferred Compensation Plan provides investors with a clearer picture of the Company’s operating performance given that, in accordance with GAAP, gains and losses related to the remeasurement of liabilities under the Company’s Executive Deferred Compensation Plan are recognized in Operating income (loss) whereas gains and losses related to the remeasurement of the assets under the Company’s Executive Deferred Compensation Plan, which are equal to and therefore fully offset the gains and losses related to the remeasurement of liabilities, are recognized in Other income (expense), net, which is not reflected in Operating income (loss). The Company believes adjusted operating income (loss) is an appropriate measure for evaluating the operating performance of its business segments and the Company on a consolidated basis. Adjusted operating income (loss) and similar measures with similar titles are common performance measures used by investors and analysts to analyze the Company’s performance. The Company uses revenues and adjusted operating income (loss) measures as the most important indicators of its business performance, and evaluates management’s effectiveness with specific reference to these indicators. Adjusted operating income (loss) should be viewed as a supplement to and not a substitute for operating income (loss), net income (loss), cash flows from operating activities, and other measures of performance and/or liquidity presented in accordance with GAAP. Since adjusted operating income (loss) is not a measure of performance calculated in accordance with GAAP, this measure may not be comparable to similar measures with similar titles used by other companies. The Company has presented the components that reconcile operating income (loss), the most directly comparable GAAP financial measure, to adjusted operating income (loss). Information as to the operations of the Company’s reportable segments is set forth below. Three Months Ended September 30, 2023 Sphere MSG Networks Total Revenues $ 7,779 $ 110,228 $ 118,007 Direct operating expenses (7,805) (76,694) (84,499) Selling, general and administrative expenses (84,150) (2,994) (87,144) Depreciation and amortization (12,377) (1,882) (14,259) Other gains, net 1,497 — 1,497 Restructuring charges (3,391) — (3,391) Operating (loss) income $ (98,447) $ 28,658 $ (69,789) Interest income 4,378 Other income, net 42,196 Loss from operations before income taxes $ (23,215) Reconciliation of operating (loss) income to adjusted operating (loss) income: Operating (loss) income $ (98,447) $ 28,658 $ (69,789) Add back: Share-based compensation 3,919 964 4,883 Depreciation and amortization 12,377 1,882 14,259 Restructuring charges 3,391 — 3,391 Other gains, net (1,497) — (1,497) Merger and acquisition related costs, net of insurance recoveries (2,702) (6,341) (9,043) Amortization for capitalized cloud computing arrangement costs — 22 22 Remeasurement of deferred compensation plan liabilities (107) — (107) Adjusted operating (loss) income $ (83,066) $ 25,185 $ (57,881) Other information: Capital expenditures $ 183,163 $ 1,408 $ 184,571 Three Months Ended September 30, 2022 Sphere MSG Networks Total Revenues $ 650 $ 122,479 $ 123,129 Direct operating expenses — (75,420) (75,420) Selling, general and administrative expenses (77,191) (17,440) (94,631) Depreciation and amortization (4,515) (1,618) (6,133) Other gains, net 2,000 — 2,000 Operating (loss) income $ (79,056) $ 28,001 $ (51,055) Interest income 3,333 Other expense, net (415) Loss from operations before income taxes $ (48,137) Reconciliation of operating (loss) income to adjusted operating (loss) income: Operating (loss) income $ (79,056) $ 28,001 $ (51,055) Add back: Share-based compensation 9,786 1,704 11,490 Depreciation and amortization 4,515 1,618 6,133 Other gains, net (2,000) — (2,000) Merger and acquisition related costs 2,749 1,901 4,650 Amortization for capitalized cloud computing arrangement costs 77 44 121 Remeasurement of deferred compensation plan liabilities (154) — (154) Adjusted operating (loss) income (64,083) $ 33,268 $ (30,815) Other information: Capital expenditures $ 260,239 $ 1,227 $ 261,466 Concentration of Risk Accounts receivable, net in the accompanying condensed consolidated balance sheets as of September 30, 2023 and June 30, 2023 include amounts due from the following individual customers, which accounted for the noted percentages of the gross balance: September 30, June 30, Customer A 22 % 23 % Customer B 21 % 22 % Customer C 17 % 17 % Revenues in the accompanying condensed consolidated statements of operations for the three months ended September 30, 2023 and September 30, 2022 include amounts from the following individual customers: Three Months Ended September 30, 2023 2022 Customer 1 30 % 31 % Customer 2 30 % 31 % Customer 3 24 % 26 %

Additional Financial Informatio

Additional Financial Information	3 Months Ended
	Sep. 30, 2023
Additional Financial Information [Abstract]
Additional Financial Information	Additional Financial Information The following table provides a summary of the amounts recorded as cash, cash equivalents and restricted cash. As of September 30, June 30, Cash and cash equivalents $ 433,507 $ 131,965 Restricted cash 18,235 $ 297,149 Total cash, cash equivalents and restricted cash $ 451,742 $ 429,114 The Company’s c ash, cash equivalents, and restricted cash are classified within Level I of the fair value hierarchy as it is valued using observable inputs that reflect quoted prices for identical assets in active markets. The Company’s restricted cash includes cash deposited in escrow accounts. The Company has deposited cash in an interest-bearing escrow account related to credit support, debt facilities, and collateral to its workers compensation and general liability insurance obligations. Prepaid expenses and other current assets consisted of the following: As of September 30, June 30, Prepaid expenses $ 18,812 $ 22,616 Note and other receivables 28,441 21,453 Inventory 2,388 — Current deferred production costs 11,624 6,524 Other 4,990 5,492 Total prepaid expenses and other current assets $ 66,255 $ 56,085 Accounts payable, accrued and other current liabilities consisted of the following: As of September 30, June 30, Accounts payable $ 19,319 $ 39,654 Accrued payroll and employee related liabilities 42,809 75,579 Cash due to promoters 71,059 73,611 Capital related accruals 224,788 236,593 Accrued legal fees 24,679 53,857 Other accrued expenses 45,437 36,437 Total accounts payable, accrued and other current liabilities $ 428,091 $ 515,731 Other income (expense), net includes the following: Three Months Ended September 30, 2023 2022 Gain on litigation settlement 62,647 $ — Realized loss on equity method investments (19,027) (2,247) Other (1,424) 1,832 Total other income (expense), net $ 42,196 $ (415) Income Taxes During the three months ended September 30, 2023 and 2022, the Company made income tax payments, net of refunds, of $17,868 and $974, respectively.

Accounting Policies (Policies)

Accounting Policies (Policies)	3 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements of the Company include the accounts of Sphere Entertainment Co. and its subsidiaries. They also historically included accounts of Tao Group Hospitality, MSG Entertainment, and Boston Calling Events, LLC (“BCE”) until their dispositions on May 3, 2023, April 20, 2023, and December 2, 2022, respectively. All significant intercompany transactions and balances have been eliminated in consolidation. Prior to their dispositions, Tao Group Hospitality and Boston Calling Events, LLC were consolidated with the equity owned by other stockholders shown as redeemable or nonredeemable noncontrolling interests of discontinued operations in the accompanying consolidated balance sheets, and the other stockholders’ portion of net earnings (loss) and other comprehensive income (loss) shown as net income (loss) or comprehensive income (loss) attributable to redeemable or nonredeemable noncontrolling interests from discontinued operations in the accompanying consolidated statements of operations and consolidated statements of comprehensive income (loss), respectively. See Note 3. Discontinued Operations, for details regarding the Tao Group Hospitality Disposition, and MSGE Distribution. See Note 2. Summary of Significant Accounting Policies, to the audited annual consolidated financial statements included in the 2023 Form 10-K regarding the classification of redeemable noncontrolling interests of Tao Group Hospitality.
Use of Estimates	Use of Estimates The preparation of the accompanying condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenues and expenses. Such estimates include the provision for credit losses, valuation of investments, goodwill, intangible assets, deferred production costs, other long-lived assets, deferred tax assets, pension and other postretirement benefit obligations and the related net periodic benefit cost, and other liabilities. In addition, estimates are used in revenue recognition, rights fees, performance and share-based compensation, depreciation and amortization, litigation matters and other matters. Management believes its use of estimates in the condensed consolidated financial statements to be reasonable. Management evaluates its estimates on an ongoing basis using historical experience and other factors, including the general economic environment and actions it may take in the future. The Company adjusts such estimates when facts and circumstances dictate. However, these estimates may involve significant uncertainties and judgments and cannot be determined with precision. In addition, these estimates are based on management’s best judgment at a point in time and, as such, these estimates may ultimately differ from actual results. Changes in estimates resulting from weakness in the economic environment or other factors beyond the Company’s control could be material and would be reflected in the Company’s condensed consolidated financial statements in future periods.
Production Costs for the Company's Original Immersive Productions	Production Costs for the Company’s Original Immersive Productions There have been no material changes to the Company’s accounting policies regarding direct operating expenses related to production costs, except to note that subsequent to September 30, 2023, the Company completed and debuted its first original immersive production, Postcard From Earth, which began amortizing during the second quarter of Fiscal Year 2024.
Revenue, Remaining Performance Obligation	In developing the estimated revenue, the Company applies the allowable practical expedient and does not disclose information about remaining performance obligations that have original expected durations of one year or less.

Discontinued Operations (Tables

Discontinued Operations (Tables)	3 Months Ended
	Sep. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Discontinued Operations	The table below sets forth operating results of discontinued operations for the three months ended September 30, 2022. Amounts presented below differ from historically reported results for the MSG Entertainment and Tao Group Hospitality business segments due to reclassifications and adjustments made for purposes of discontinued operations. Three Months Ended September 30, 2022 MSGE Tao Eliminations Total Revenues $ 146,075 $ 132,576 $ (562) $ 278,089 Direct operating expenses (100,663) (77,163) 376 (177,450) Selling, general and administrative expenses (28,729) (42,543) 462 (70,810) Depreciation and amortization (15,986) (7,636) — (23,622) Operating income 697 5,234 276 6,207 Interest income 608 13 — 621 Interest expense (1,025) (1,142) — (2,167) Other income, net 886 1,054 — 1,940 Income from operations before income taxes 1,166 5,159 276 6,601 Income tax expense (2,936) (1,405) — (4,341) Net (loss) income (1,770) 3,754 276 2,260 Less: Net income attributable to redeemable noncontrolling interests — 1,124 — 1,124 Less: Net loss attributable to nonredeemable noncontrolling interests (372) (38) — (410) Net (loss) income from discontinued operations attributable to Sphere Entertainment Co.’s stockholders $ (1,398) $ 2,668 $ 276 $ 1,546 The table below sets forth, for the period presented, significant selected financial information related to discontinued activities included in the accompanying condensed consolidated financial statements: Three Months Ended September 30, 2022 MSGE Tao Non-cash items included in net (loss) income: Depreciation and amortization $ 15,986 $ 7,636 Share-based compensation expense 1,646 2,052 Cash flows from investing activities: Capital expenditures, net $ 4,855 $ 5,769

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Sep. 30, 2023
Revenue Recognition [Abstract]
Disaggregation of Revenue	The following tables disaggregate the Company’s revenue by major source and reportable segment based upon the timing of transfer of goods or services to the customer for the three months ended September 30, 2023 and 2022: Three Months Ended September 30, 2023 Sphere MSG Networks Total Event-related (a) 4,059 — 4,059 Sponsorship, signage, Exosphere TM advertising, and suite licenses (b) 2,560 218 2,778 Media related, primarily from affiliation agreements (b) — 109,795 109,795 Other 431 215 646 Total revenues from contracts with customers 7,050 110,228 117,278 Revenues from subleases 729 — 729 Total revenues $ 7,779 $ 110,228 $ 118,007 Three Months Ended September 30, 2022 Sphere MSG Networks Total Sponsorship, signage, Exosphere advertising, and suite licenses (b) — 244 244 Media related, primarily from affiliation agreements (b) — 121,812 121,812 Other — 423 423 Total revenues from contracts with customers — 122,479 122,479 Revenues from subleases 650 — 650 Total revenues $ 650 $ 122,479 $ 123,129 _________________ (a) Event-related revenues consists of (i) ticket sales and other ticket-related revenues, (ii) venue license fees from third-party promoters, and (iii) food, beverage and merchandise sales. Event-related revenues are recognized at a point in time. As such, these revenues have been included in the same category in the table above. (b) See Note 2. Summary of Significant Accounting Policies, Revenue Recognition, and Note 4. Revenue Recognition, to the consolidated financial statements included in the 2023 Form 10-K for further details on the pattern of recognition of sponsorship, signage, suite licenses, and media related revenue. In addition to the disaggregation of the Company’s revenue by major source based upon the timing of transfer of goods or services to the customer disclosed above, the following tables disaggregate the Company’s consolidated revenues by type of goods or services in accordance with the required entity-wide disclosure requirements of ASC Subtopic 280-10-50-38 to 40 and the disaggregation of revenue required disclosures in accordance with ASC Subtopic 606-10-50-5 for the three months ended September 30, 2023 and 2022: Three Months Ended September 30, 2023 Sphere MSG Networks Total Ticketing and venue license fee revenues (a) $ 2,807 $ — $ 2,807 Sponsorship, signage, Exosphere advertising, and suite revenues 2,900 — 2,900 Food, beverage, and merchandise revenues 1,343 — 1,343 Media networks revenues (b) — 110,228 110,228 Total revenues from contracts with customers 7,050 110,228 117,278 Revenues from subleases 729 — 729 Total revenues $ 7,779 $ 110,228 $ 118,007 _________________ (a) Amounts include ticket sales, other ticket-related revenue, and venue license fees from the Company’s events such as (i) concerts, (ii) The Sphere Experience and (iii) other live entertainment and sporting events. (b) Primarily consists of affiliation fees from Distributors and, to a lesser extent, advertising revenues through the sale of commercial time and other advertising inventory during MSG Networks programming. Three Months Ended September 30, 2022 Sphere MSG Networks Total Media networks revenues (a) $ — $ 122,479 $ 122,479 Revenues from subleases 650 — 650 Total revenues $ 650 $ 122,479 $ 123,129 _________________ (a) Primarily consists of affiliation fees from Distributors and, to a lesser extent, advertising revenues through the sale of commercial time and other advertising inventory during MSG Networks programming.
Contract with Customer, Contract Assets and Liabilities	The following table provides information about contract balances from the Company’s contracts with customers as of September 30, 2023 and June 30, 2023: September 30, June 30, 2023 2023 Receivables from contracts with customers, net (a) $ 114,247 $ 115,039 Contract assets, current (b) 88 314 Deferred revenue, including non-current portion (c) 70,904 27,397 _________________ (a) Receivables from contracts with customers, net, which are reported in Accounts receivable and Prepaid expenses and other current assets in the Company’s condensed consolidated balance sheets, represent the Company’s unconditional rights to consideration under its contracts with customers. As of September 30, 2023 and June 30, 2023, the Company’s receivables from contracts with customers above included $0 and $2,730, respectively, related to various related parties. See Note 14. Related Party Transactions, for further details on these related party arrangements. (b) Contract assets primarily relate to the Company’s rights to consideration for goods or services transferred to customers, for which the Company does not have an unconditional right to bill as of the reporting date. Contract assets are transferred to accounts receivable once the Company’s right to consideration becomes unconditional. (c) Revenue recognized for the three months ended September 30, 2023 relating to the deferred revenue balance as of June 30, 2023 was $1,470.

Restructuring Charges (Tables)

Restructuring Charges (Tables)	3 Months Ended
	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Charges	Changes to the Company’s restructuring liability through September 30, 2023 were as follows: Restructuring Liability June 30, 2023 $ 8,891 Restructuring charges 3,391 Payments (6,804) September 30, 2023 $ 5,478

Investments in Nonconsolidate_2

Investments in Nonconsolidated Affiliates (Tables)	3 Months Ended
	Sep. 30, 2023
Equity Method Investments, Joint Ventures And Cost Method Investments [Abstract]
Cost and Equity Method Investments	The Company’s investments in nonconsolidated affiliates, which are accounted for under the equity method of accounting or as equity investments without readily determinable fair value, are included within Other non-current assets in the accompanying condensed consolidated balance sheets and consisted of the following: Investment As of Ownership Percentage as of September 30, 2023 September 30, June 30, Equity method investments: SACO Technologies Inc. (“SACO”) 30 % $ 20,074 $ 22,246 Holoplot Loan (a) 20,576 20,971 Holoplot 25 % 1,417 1,542 MSG Entertainment (b) — % — 341,039 Equity investments without readily determinable fair values 8,721 8,721 Total investments in nonconsolidated affiliates $ 50,788 $ 394,519 _________________ (a) In January 2023, the Company, through an indirect subsidiary, extended financing to Holoplot GmbH (“Holoplot”) in the form of a three-year convertible loan (the “Holoplot Loan”) of €18,804, equivalent to $20,484 using the applicable exchange rate at the time of the transaction. Absent conversion, which is currently not available under the terms of the Holoplot Loan, the Holoplot Loan and interest accrued thereon are due and payable at the conclusion of the three year term. (b) As of September 30, 2023, following the sale of portions of the MSGE Retained Interest and the repayment of the DDTL Facility (as defined below) with MSG Entertainment using a portion of the MSGE Retained Interest, the Company no longer holds any of the outstanding common stock of MSG Entertainment. The Company elected the fair value option for its investment in MSG Entertainment as of June 30, 2023, when it held approximately 20% of the outstanding shares of common stock of MSG Entertainment (in the form of Class A common stock). The fair value of the investment was determined based on quoted market prices on the New York Stock Exchange (“NYSE”), which were classified within Level I of the fair value hierarchy.
Gain (Loss) on Securities	The following table summarizes the realized and unrealized gain (loss) on equity investments with and without readily determinable fair values, which is reported in Other income (expense), net, for the three months ended September 30, 2023 and 2022: Three Months Ended September 30, 2023 2022 Unrealized gain $ — $ 1,969 Realized loss from shares of MSG Entertainment Class A common stock sold (19,027) — Total realized and unrealized (loss) gain on equity investments $ (19,027) $ 1,969 Supplemental information on realized loss: Shares of MSG Entertainment Class A common stock disposed (a) 1,923 — Shares of MSG Entertainment Class A common stock sold (b) 8,221 — Cash proceeds from shares of MSG Entertainment Class A common stock sold $ 256,501 $ — _________________ (a) Refer to Note 10. Credit Facilities, for further explanation of the approximately 1,923 shares disposed related to the repayment of the DDTL Facility. (b) Shares sold of approximately 8,221 resulted in the cash proceeds from common stock sold.

Property and Equipment, net (Ta

Property and Equipment, net (Tables)	3 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	As of September 30, 2023 and June 30, 2023, property and equipment, net consisted of the following: As of September 30, June 30, Land $ 77,617 $ 80,878 Buildings 2,300,506 69,049 Equipment, furniture, and fixtures 1,090,194 159,786 Leasehold improvements 18,491 18,491 Construction in progress 85,469 3,066,785 Total property and equipment, gross 3,572,277 3,394,989 Less accumulated depreciation and amortization (101,136) (87,828) Property and equipment, net $ 3,471,141 $ 3,307,161

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Carrying Amount of Goodwill by Reportable Segment	The carrying amounts of goodwill as of September 30, 2023 and June 30, 2023 are as follows: As of September 30, June 30, Sphere $ 32,299 $ 32,299 MSG Networks 424,508 424,508 Total Goodwill $ 456,807 $ 456,807
Schedule of Intangible Assets Subject to Amortization	The Company’s intangible assets subject to amortization, which relate to affiliate relationships, as of September 30, 2023 and June 30, 2023 were as follows: As of September 30, June 30, Gross carrying amount $ 83,044 $ 83,044 Accumulated amortization (65,913) (65,134) Intangible assets, net $ 17,131 $ 17,910

Credit Facilities (Tables)

Credit Facilities (Tables)	3 Months Ended
	Sep. 30, 2023
Line of Credit Facility [Abstract]
Schedule of Debt Outstanding and Deferred Financing Costs	The following table summarizes the presentation of the outstanding balances under the Company’s credit agreements as of September 30, 2023 and June 30, 2023: As of September 30, June 30, Current portion MSG Networks Term Loan $ 103,125 $ 82,500 Total Current portion of long-term debt $ 103,125 $ 82,500 As of September 30, 2023 June 30, 2023 Principal Unamortized Deferred Financing Costs Net Principal Unamortized Deferred Financing Costs Net Non-current portion MSG Networks Term Loan $ 829,125 $ (1,185) $ 827,940 $ 849,750 $ (1,483) $ 848,267 LV Sphere Term Loan Facility 275,000 (4,605) 270,395 275,000 (4,880) 270,120 Long-term debt, net of deferred financing costs $ 1,104,125 $ (5,790) $ 1,098,335 $ 1,124,750 $ (6,363) $ 1,118,387
Interest Payments and Loan Principal Repayments	Interest payments and loan principal repayments made by the Company under the credit agreements were as follows: Interest Payments Loan Principal Repayments Three Months Ended Three Months Ended September 30, September 30, 2023 2022 2023 2022 MSG Networks Credit Facilities $ 17,500 $ 9,596 $ — $ 12,375 LV Sphere Term Loan Facility 6,745 — — — Delayed Draw Term Loan Facility 460 — 65,000 — Total Payments $ 24,705 $ 9,596 $ 65,000 $ 12,375 The carrying value and fair value of the Company’s financial instruments reported in the accompanying condensed consolidated balance sheets are as follows: As of September 30, 2023 June 30, 2023 Carrying Value (a) Fair Carrying Value (a) Fair Liabilities: MSG Networks Credit Facilities $ 932,250 $ 927,589 $ 932,250 $ 927,589 LV Sphere Term Loan Facility 275,000 273,625 275,000 272,250 Total Long-term debt $ 1,207,250 $ 1,201,214 $ 1,207,250 $ 1,199,839 _________________ (a) The total carrying value of the Company’s financial instruments as of September 30, 2023 and June 30, 2023 is equal to the current and non-current principal payments for the Company’s credit agreements excluding unamortized deferred financing costs of $5,790 and $6,363, respectively.

Pension Plans and Other Postr_2

Pension Plans and Other Postretirement Benefit Plan (Tables)	3 Months Ended
	Sep. 30, 2023
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Schedule of Net Periodic Benefit Cost	The following table presents components of net periodic benefit cost for the Pension Plans and Postretirement Plan included in the accompanying condensed consolidated statements of operations for the three months ended September 30, 2023 and 2022. Service cost is recognized in direct operating expenses and selling, general and administrative expenses. All other components of net periodic benefit cost are reported in Other expense, net. Pension Plans Postretirement Plan Three Months Ended Three Months Ended September 30, September 30, 2023 2022 2023 2022 Service cost $ 61 $ 123 $ 5 $ 15 Interest cost 439 1,189 17 19 Expected return on plan assets (213) (1,719) — — Recognized actuarial loss (gain) (224) 501 (17) 9 Net periodic benefit cost $ 63 $ 94 $ 5 $ 43
Schedule of Defined Contribution Plans	For the three months ended September 30, 2023 and 2022, expenses related to the Savings Plans included in the accompanying condensed consolidated and combined statements of operations are as follows: Three Months Ended September 30, 2023 2022 Continuing Operations $ 1,210 $ 1,387 Discontinued Operations — $ 1,178 Total Savings Plan Expenses $ 1,210 $ 2,565
Schedule of Defined Benefit Plans Disclosures	The following table summarizes amounts recognized related to the Deferred Compensation Plan in the condensed consolidated and combined balance sheets: As of September 30, June 30, Non-current assets (included in Other non-current assets) $ 2,536 $ 1,087 Non-current liabilities (included in Other non-current liabilities) $ (2,550) $ (1,087)

Share-based Compensation (Table

Share-based Compensation (Tables)	3 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation Expense	The following table summarizes the Company’s share-based compensation expense: Three Months Ended September 30, 2023 2022 Share-based compensation (a) $ 4,883 $ 11,490 Fair value of awards vested (b) $ 30,153 $ 32,132 _________________ (a) Share-based compensation excludes costs that have been capitalized of $906 and $910 for the three months ended September 30, 2023 and 2022, respectively.

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Sep. 30, 2023
Stockholders' Equity Note [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following tables detail the components of accumulated other comprehensive loss: Three Months Ended September 30, 2023 Pension Plans and Postretirement Plan Cumulative Accumulated Balance as of June 30, 2023 $ (5,138) $ 200 $ (4,938) Other comprehensive loss: Other comprehensive loss before reclassifications — (7,919) (7,919) Amounts reclassified from accumulated other comprehensive loss (a) (241) — (241) Income tax benefit 63 2,052 2,115 Other comprehensive loss, total (178) (5,867) (6,045) Balance as of September 30, 2023 $ (5,316) $ (5,667) $ (10,983) Three Months Ended September 30, 2022 Pension Plans and Postretirement Plan Cumulative Accumulated Balance as of June 30, 2022 $ (40,287) $ (8,068) $ (48,355) Other comprehensive income (loss): Other comprehensive loss before reclassifications — (16,080) (16,080) Amounts reclassified from accumulated other comprehensive loss (a) 510 — 510 Income tax (expense) benefit (10) 2,954 2,944 Other comprehensive income (loss), total 500 (13,126) (12,626) Balance as of September 30, 2022 $ (39,787) $ (21,194) $ (60,981) _________________ (a) Amounts reclassified from accumulated other comprehensive loss represent the amortization of net actuarial loss and net unrecognized prior service credit included in net periodic benefit cost, which is reflected under Other income (expense), net in the accompanying condensed consolidated statements of operations (see Note 11. Pension Plans and Other Postretirement Benefit Plans).

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Sep. 30, 2023
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following table summarizes the composition and amounts of the transactions with the Company’s affiliates. These amounts are reflected in revenues and operating expenses in the accompanying condensed consolidated statements of operations for the three months ended September 30, 2023 and 2022: Three Months Ended September 30, 2023 2022 Revenues $ 390 $ — Operating expenses (credits): Media rights fees $ 44,185 42,767 Cost reimbursement from MSG Sports - MSG Sports Services Agreement — (9,517) Corporate general and administrative expenses, net - MSG Entertainment Transition Services Agreement (a) 30,337 — Origination, master control and technical services 1,257 1,232 Other operating expenses, net 544 (11) Total operating expenses, net (b) $ 76,323 $ 34,471 _________________ (a) Included in Corporate general and administrative expenses, net - MSG Entertainment Transition Services Agreement are $2,805 related to Restructuring charges for employees who provided services to the Company under the MSG Entertainment Transition Services Agreement. (b) Of the total operating expenses, net, $46,078 and $44,248 for three months ended September 30, 2023 and 2022, respectively, are included in direct operating expenses in the accompanying condensed consolidated statements of operations, and $30,245 and $(9,777) for three months ended September 30, 2023 and 2022, respectively, are included as net credits in selling, general, and administrative expenses.

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Schedule of Segment Information, by Segment	Information as to the operations of the Company’s reportable segments is set forth below. Three Months Ended September 30, 2023 Sphere MSG Networks Total Revenues $ 7,779 $ 110,228 $ 118,007 Direct operating expenses (7,805) (76,694) (84,499) Selling, general and administrative expenses (84,150) (2,994) (87,144) Depreciation and amortization (12,377) (1,882) (14,259) Other gains, net 1,497 — 1,497 Restructuring charges (3,391) — (3,391) Operating (loss) income $ (98,447) $ 28,658 $ (69,789) Interest income 4,378 Other income, net 42,196 Loss from operations before income taxes $ (23,215) Reconciliation of operating (loss) income to adjusted operating (loss) income: Operating (loss) income $ (98,447) $ 28,658 $ (69,789) Add back: Share-based compensation 3,919 964 4,883 Depreciation and amortization 12,377 1,882 14,259 Restructuring charges 3,391 — 3,391 Other gains, net (1,497) — (1,497) Merger and acquisition related costs, net of insurance recoveries (2,702) (6,341) (9,043) Amortization for capitalized cloud computing arrangement costs — 22 22 Remeasurement of deferred compensation plan liabilities (107) — (107) Adjusted operating (loss) income $ (83,066) $ 25,185 $ (57,881) Other information: Capital expenditures $ 183,163 $ 1,408 $ 184,571 Three Months Ended September 30, 2022 Sphere MSG Networks Total Revenues $ 650 $ 122,479 $ 123,129 Direct operating expenses — (75,420) (75,420) Selling, general and administrative expenses (77,191) (17,440) (94,631) Depreciation and amortization (4,515) (1,618) (6,133) Other gains, net 2,000 — 2,000 Operating (loss) income $ (79,056) $ 28,001 $ (51,055) Interest income 3,333 Other expense, net (415) Loss from operations before income taxes $ (48,137) Reconciliation of operating (loss) income to adjusted operating (loss) income: Operating (loss) income $ (79,056) $ 28,001 $ (51,055) Add back: Share-based compensation 9,786 1,704 11,490 Depreciation and amortization 4,515 1,618 6,133 Other gains, net (2,000) — (2,000) Merger and acquisition related costs 2,749 1,901 4,650 Amortization for capitalized cloud computing arrangement costs 77 44 121 Remeasurement of deferred compensation plan liabilities (154) — (154) Adjusted operating (loss) income (64,083) $ 33,268 $ (30,815) Other information: Capital expenditures $ 260,239 $ 1,227 $ 261,466
Schedules of Concentration of Risk, by Risk Factor	Concentration of Risk Accounts receivable, net in the accompanying condensed consolidated balance sheets as of September 30, 2023 and June 30, 2023 include amounts due from the following individual customers, which accounted for the noted percentages of the gross balance: September 30, June 30, Customer A 22 % 23 % Customer B 21 % 22 % Customer C 17 % 17 % Revenues in the accompanying condensed consolidated statements of operations for the three months ended September 30, 2023 and September 30, 2022 include amounts from the following individual customers: Three Months Ended September 30, 2023 2022 Customer 1 30 % 31 % Customer 2 30 % 31 % Customer 3 24 % 26 %

Additional Financial Informat_2

Additional Financial Information (Tables)	3 Months Ended
	Sep. 30, 2023
Additional Financial Information [Abstract]
Schedule Of Cash, Cash Equivalents, and Restricted Cash	The following table provides a summary of the amounts recorded as cash, cash equivalents and restricted cash. As of September 30, June 30, Cash and cash equivalents $ 433,507 $ 131,965 Restricted cash 18,235 $ 297,149 Total cash, cash equivalents and restricted cash $ 451,742 $ 429,114
Cash, Cash Equivalents and Restricted Cash	The following table provides a summary of the amounts recorded as cash, cash equivalents and restricted cash. As of September 30, June 30, Cash and cash equivalents $ 433,507 $ 131,965 Restricted cash 18,235 $ 297,149 Total cash, cash equivalents and restricted cash $ 451,742 $ 429,114
Schedule of Other Current Assets	Prepaid expenses and other current assets consisted of the following: As of September 30, June 30, Prepaid expenses $ 18,812 $ 22,616 Note and other receivables 28,441 21,453 Inventory 2,388 — Current deferred production costs 11,624 6,524 Other 4,990 5,492 Total prepaid expenses and other current assets $ 66,255 $ 56,085
Other Current Liabilities	Accounts payable, accrued and other current liabilities consisted of the following: As of September 30, June 30, Accounts payable $ 19,319 $ 39,654 Accrued payroll and employee related liabilities 42,809 75,579 Cash due to promoters 71,059 73,611 Capital related accruals 224,788 236,593 Accrued legal fees 24,679 53,857 Other accrued expenses 45,437 36,437 Total accounts payable, accrued and other current liabilities $ 428,091 $ 515,731
Schedule of Other Nonoperating Income (Expense)	Other income (expense), net includes the following: Three Months Ended September 30, 2023 2022 Gain on litigation settlement 62,647 $ — Realized loss on equity method investments (19,027) (2,247) Other (1,424) 1,832 Total other income (expense), net $ 42,196 $ (415)

Description of Business and B_2

Description of Business and Basis of Presentation (Details)		3 Months Ended
	Apr. 20, 2023 $ / shares shares	Sep. 30, 2023 ft² segment network guest ft $ / shares	Jun. 30, 2023 $ / shares	May 03, 2023
Conversion of Stock [Line Items]
Number of reportable segments | segment		2
Number of networks | network		2
Venue occupancy, number of guests | guest		20,000
Building height, feet (in feet) | ft		100
Common Class A
Conversion of Stock [Line Items]
Common stock, par or stated value per share (in dollars per share)		$ 0.01	$ 0.01
Common Class B
Conversion of Stock [Line Items]
Common stock, par or stated value per share (in dollars per share)		$ 0.01	$ 0.01
Discontinued Operations, Disposed of by Sale | Tao
Conversion of Stock [Line Items]
Disposal group, including discontinued operation, ownership percentage in disposed asset				66.90%
Spinoff | MSGE | Common Class A
Conversion of Stock [Line Items]
Number of shares received for every one common stock shares held on record date (in shares) | shares	1
Common stock, par or stated value per share (in dollars per share)	$ 0.01
Spinoff | MSGE | Common Class B
Conversion of Stock [Line Items]
Number of shares received for every one common stock shares held on record date (in shares) | shares	1
Common stock, par or stated value per share (in dollars per share)	$ 0.01
Spinoff | Sphere | Common Class A
Conversion of Stock [Line Items]
Common stock, par or stated value per share (in dollars per share)	$ 0.01
MSGE | Spinoff | MSG Stockholders
Conversion of Stock [Line Items]
Noncontrolling interest, ownership percentage by parent	67%
Noncontrolling interest, ownership percentage by noncontrolling owners	33%
Studio Campus
Conversion of Stock [Line Items]
Building, square footage (in square feet) | ft²		68,000
Big Dome
Conversion of Stock [Line Items]
Building, square footage (in square feet) | ft²		28,000

Accounting Policies (Details)

Accounting Policies (Details) - USD ($) $ in Thousands	8 Months Ended
	Jun. 30, 2024	Oct. 02, 2023	Sep. 30, 2023	Jun. 30, 2023
Cash and Cash Equivalents [Line Items]
Customer advances			$ 123,100
Cash and cash equivalents			433,507	$ 131,965
Restricted cash			18,235	297,149
Cash collateral for borrowed securities				275,000
Net			1,207,250
Secured Debt | MSG Networks | Forecast [Member]
Cash and Cash Equivalents [Line Items]
Non-cash repayment of the Delayed Draw Term Loan Facility	$ 102,125
MSG Networks Term Loan | Debt
Cash and Cash Equivalents [Line Items]
Carrying value			932,250	$ 932,250
MSG Networks Term Loan | Debt | Subsequent Event
Cash and Cash Equivalents [Line Items]
Net		$ 911,625
MSG Networks
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents			$ 113,950

Discontinued Operations - Sched

Discontinued Operations - Schedule of Disposed Income Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income tax expense	$ (294)
Net (loss) income	$ (647)	$ 2,260
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues		278,089
Direct operating expenses		(177,450)
Selling, general and administrative expenses		(70,810)
Depreciation and amortization		(23,622)
Operating income		6,207
Interest income		621
Interest expense		(2,167)
Other income, net		1,940
Income from operations before income taxes		6,601
Income tax expense		(4,341)
Net (loss) income		2,260
Less: Net income attributable to redeemable noncontrolling interests		1,124
Less: Net loss attributable to nonredeemable noncontrolling interests		(410)
Net (loss) income from discontinued operations attributable to Sphere Entertainment Co.’s stockholders		1,546
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff | MSGE
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Depreciation and amortization		(15,986)
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff | Tao
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Depreciation and amortization		(7,636)
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff | Operating segments | MSGE
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues		146,075
Direct operating expenses		(100,663)
Selling, general and administrative expenses		(28,729)
Depreciation and amortization		(15,986)
Operating income		697
Interest income		608
Interest expense		(1,025)
Other income, net		886
Income from operations before income taxes		1,166
Income tax expense		(2,936)
Net (loss) income		(1,770)
Less: Net income attributable to redeemable noncontrolling interests		0
Less: Net loss attributable to nonredeemable noncontrolling interests		(372)
Net (loss) income from discontinued operations attributable to Sphere Entertainment Co.’s stockholders		(1,398)
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff | Operating segments | Tao
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues		132,576
Direct operating expenses		(77,163)
Selling, general and administrative expenses		(42,543)
Depreciation and amortization		(7,636)
Operating income		5,234
Interest income		13
Interest expense		(1,142)
Other income, net		1,054
Income from operations before income taxes		5,159
Income tax expense		(1,405)
Net (loss) income		3,754
Less: Net income attributable to redeemable noncontrolling interests		1,124
Less: Net loss attributable to nonredeemable noncontrolling interests		(38)
Net (loss) income from discontinued operations attributable to Sphere Entertainment Co.’s stockholders		2,668
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff | Other
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues		(562)
Direct operating expenses		376
Selling, general and administrative expenses		462
Depreciation and amortization		0
Operating income		276
Interest income		0
Interest expense		0
Other income, net		0
Income from operations before income taxes		276
Income tax expense		0
Net (loss) income		276
Less: Net income attributable to redeemable noncontrolling interests		0
Less: Net loss attributable to nonredeemable noncontrolling interests		0
Net (loss) income from discontinued operations attributable to Sphere Entertainment Co.’s stockholders		$ 276

Discontinued Operations - Sch_2

Discontinued Operations - Schedule of Disposed Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Non-cash items included in net (loss) income:
Share-based compensation	$ 4,883	$ 15,188
Cash flows from investing activities:
Capital expenditures, net	$ 164,950	270,088
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff
Non-cash items included in net (loss) income:
Depreciation and amortization		23,622
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff | MSGE
Non-cash items included in net (loss) income:
Depreciation and amortization		15,986
Share-based compensation		1,646
Cash flows from investing activities:
Capital expenditures, net		4,855
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff | Tao
Non-cash items included in net (loss) income:
Depreciation and amortization		7,636
Share-based compensation		2,052
Cash flows from investing activities:
Capital expenditures, net		$ 5,769

Discontinued Operations - Narra

Discontinued Operations - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Discontinued Operations and Disposal Groups [Abstract]
(Loss) income from discontinued operations, net of taxes	$ (647)	$ 2,260
Income tax expense	$ 294

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 117,278	$ 122,479
Revenues from subleases	729	650
Revenues	118,007	123,129
Sphere | Operating segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	7,050	0
Revenues from subleases	729	650
Revenues	7,779	650
MSG Networks | Operating segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	110,228	122,479
Revenues from subleases	0	0
Revenues	110,228	122,479
Sponsorship, signage, exosphere advertising and suite licenses
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	2,900
Sponsorship, signage, exosphere advertising and suite licenses | Sphere | Operating segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	2,900
Sponsorship, signage, exosphere advertising and suite licenses | MSG Networks | Operating segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0
Ticketing and venue license fee revenues
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	2,807
Ticketing and venue license fee revenues | Sphere | Operating segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	2,807
Ticketing and venue license fee revenues | MSG Networks | Operating segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0
Food, beverage and merchandise revenues
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	1,343
Food, beverage and merchandise revenues | Sphere | Operating segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	1,343
Food, beverage and merchandise revenues | MSG Networks | Operating segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0
Media networks revenues
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	110,228	122,479
Media networks revenues | Sphere | Operating segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Media networks revenues | MSG Networks | Operating segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	110,228	122,479
Transferred over Time | Event-related
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	4,059
Transferred over Time | Event-related | Sphere | Operating segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	4,059
Transferred over Time | Event-related | MSG Networks | Operating segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0
Transferred over Time | Sponsorship, signage, exosphere advertising and suite licenses
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	2,778	244
Transferred over Time | Sponsorship, signage, exosphere advertising and suite licenses | Sphere | Operating segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	2,560	0
Transferred over Time | Sponsorship, signage, exosphere advertising and suite licenses | MSG Networks | Operating segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	218	244
Transferred over Time | Media related, primarily from affiliation agreements
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	109,795	121,812
Transferred over Time | Media related, primarily from affiliation agreements | Sphere | Operating segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0	0
Transferred over Time | Media related, primarily from affiliation agreements | MSG Networks | Operating segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	109,795	121,812
Transferred at Point in Time | Other
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	646	423
Transferred at Point in Time | Other | Sphere | Operating segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	431	0
Transferred at Point in Time | Other | MSG Networks | Operating segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 215	$ 423

Revenue Recognition - Contract

Revenue Recognition - Contract Balances (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Jun. 30, 2023
Contract Assets and Liabilities [Line Items]
Contract with customer, deferred revenue, revenue recognized	$ 1,470
Receivables from contracts with customers, net
Contract Assets and Liabilities [Line Items]
Contracts with customers, assets, net	114,247	$ 115,039
Contract assets, current
Contract Assets and Liabilities [Line Items]
Contracts with customers, assets, net	88	314
Deferred revenue, including non-current portion
Contract Assets and Liabilities [Line Items]
Deferred revenue, including non-current portion	70,904	27,397
Affiliated Entities | Net related party receivables
Contract Assets and Liabilities [Line Items]
Contracts with customers, assets, net	$ 0	$ 2,730

Revenue Recognition - Remaining

Revenue Recognition - Remaining Performance Obligation (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 84,141
Revenue, remaining performance obligation, percentage	76%
Revenue, remaining performance obligation, expected timing of satisfaction, period	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	24%
Revenue, remaining performance obligation, expected timing of satisfaction, period	2 years

Restructuring and Related Activ

Restructuring and Related Activities - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Restructuring and Related Activities [Abstract]
Restructuring charges	$ 3,391	$ 0

Restructuring Charges - Schedul

Restructuring Charges - Schedule of Restructuring Activity (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2023 USD ($)
Restructuring Liability
Restructuring reserve, beginning balance	$ 8,891
Restructuring charges	3,391
Payments	(6,804)
Restructuring reserve, ending balance	$ 5,478

Investments in Nonconsolidate_3

Investments in Nonconsolidated Affiliates - Schedule Without Readily Determinable Fair Values (Details) € in Thousands, $ in Thousands	1 Months Ended
	Jan. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	Jan. 31, 2023 EUR (€)
Schedule of Investments [Line Items]
Investments		$ 50,788	$ 394,519
Equity Method Investments | SACO Technologies Inc. (“SACO”)
Schedule of Investments [Line Items]
Ownership Percentage as of September 30, 2023		30%
Investments		$ 20,074	22,246
Equity Method Investments | Holoplot Loan
Schedule of Investments [Line Items]
Investments		$ 20,576	20,971
Financing receivable, term	3 years
Face amount	$ 20,484			€ 18,804
Equity Method Investments | Holoplot
Schedule of Investments [Line Items]
Ownership Percentage as of September 30, 2023		25%
Investments		$ 1,417	$ 1,542
Equity Method Investments | MSGE
Schedule of Investments [Line Items]
Ownership Percentage as of September 30, 2023		0%	20%
Investments		$ 0	$ 341,039
Equity investments without readily determinable fair values
Schedule of Investments [Line Items]
Investments		$ 8,721	$ 8,721

Investments in Nonconsolidate_4

Investments in Nonconsolidated Affiliates - Schedule With Readily Determinable Fair Values (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Debt and Equity Securities, FV-NI [Line Items]
Total realized and unrealized (loss) gain on equity investments	$ (20,949)	$ 671
Supplemental information on realized loss:
Cash proceeds from shares of MSG Entertainment Class A common stock sold	0	3,819
MSGE
Debt and Equity Securities, FV-NI [Line Items]
Unrealized gain	0	1,969
Realized loss from shares of MSG Entertainment Class A common stock sold	(19,027)	0
Total realized and unrealized (loss) gain on equity investments	$ (19,027)	$ 1,969
Supplemental information on realized loss:
Debt conversion, converted instrument, shares issued (in shares)	1,923	0
Shares of common stock sold (in shares)	8,221	0
Cash proceeds from shares of MSG Entertainment Class A common stock sold	$ 256,501	$ 0

Property and Equipment, net - S

Property and Equipment, net - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023
Property, Plant and Equipment [Line Items]
Property and equipment	$ 3,572,277	$ 3,394,989
Less accumulated depreciation and amortization	(101,136)	(87,828)
Property and equipment, net	3,471,141	3,307,161
Land
Property, Plant and Equipment [Line Items]
Property and equipment	77,617	80,878
Buildings
Property, Plant and Equipment [Line Items]
Property and equipment	2,300,506	69,049
Equipment, furniture, and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment	1,090,194	159,786
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment	18,491	18,491
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment	$ 85,469	$ 3,066,785

Property and Equipment, net - A

Property and Equipment, net - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Capital related accruals	$ 224,788		$ 236,593
Property, plant and equipment, transfers and changes	3,130,028
Depreciation and amortization expense on property and equipment	$ 13,480	$ 5,354

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 456,807	$ 456,807
Sphere
Finite-Lived Intangible Assets [Line Items]
Goodwill	32,299	32,299
MSG Networks
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 424,508	$ 424,508

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Intangible Assets Subject to Amortization (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Gross carrying amount	$ 83,044	$ 83,044
Accumulated amortization	(65,913)	(65,134)
Intangible assets, net	$ 17,131	$ 17,910

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 779	$ 779

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands				3 Months Ended
	Apr. 06, 2023 USD ($)	Mar. 14, 2023 USD ($)	Sep. 10, 2021 complaint	Sep. 30, 2023 USD ($) complaint	Sep. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Sep. 27, 2021 complaint
Loss Contingencies [Line Items]
Contractual obligation						$ 3,134,884
Loss contingency, number of complaints filed | complaint				15
Loss contingency, remaining claims filed involving fiduciary breaches | complaint				2
Loss contingency, new claims filed, number | complaint			2
Gain on litigation settlement				$ 62,647	$ 0
Loss contingency, number of consolidated claims | complaint							4
MSGE Settlement Agreement | Settled Litigation
Loss Contingencies [Line Items]
Litigation settlement, amount awarded from other party		$ 85,000
Gain on litigation settlement				62,647
MSGE Networks Term Sheet | Settled Litigation
Loss Contingencies [Line Items]
Litigation settlement, amount awarded to other party				48,500
Payments for legal settlements				28,000
Loss contingency accrual				$ 20,500
MSGE Networks Term Sheet | Settled Litigation | MSG Network Insurers
Loss Contingencies [Line Items]
Payments for legal settlements	$ 20,500
MSG Networks Inc. Merger
Loss Contingencies [Line Items]
Loss contingency, new claims filed with incomplete and misleading information | complaint				9
Loss contingency, new claims filed involving fiduciary breaches | complaint				6

Credit Facilities - Debt Outsta

Credit Facilities - Debt Outstanding and Deferred Financing Costs (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023
Debt Instrument [Line Items]
Current portion of long-term debt	$ 103,125	$ 82,500
Net	1,207,250
Line of Credit | Secured Debt
Debt Instrument [Line Items]
Principal	1,104,125	1,124,750
Unamortized Deferred Financing Costs	(5,790)	(6,363)
Net	1,098,335	1,118,387
Line of Credit | MSG Networks Term Loan | Secured Debt
Debt Instrument [Line Items]
Current portion of long-term debt	103,125	82,500
Principal	829,125	849,750
Unamortized Deferred Financing Costs	(1,185)	(1,483)
Net	827,940	848,267
Line of Credit | LV Sphere Term Loan Facility | Secured Debt
Debt Instrument [Line Items]
Principal	275,000	275,000
Unamortized Deferred Financing Costs	(4,605)	(4,880)
Net	$ 270,395	$ 270,120

Credit Facilities - MSG Network

Credit Facilities - MSG Networks - Narrative (Details) - USD ($)	Oct. 11, 2019	Sep. 30, 2023
MSG Networks Credit Facilities | Measurement Input, Leverage Ratio | Incremental adjustment
Debt Instrument [Line Items]
Debt instrument, measurement input		6
MSG Networks Credit Facilities | Minimum | Measurement Input, Interest Coverage Ratio
Debt Instrument [Line Items]
Debt instrument, measurement input		2
MSG Networks Credit Facilities | Maximum | Measurement Input, Leverage Ratio
Debt Instrument [Line Items]
Debt instrument, measurement input		5.50
MSG Networks Credit Facilities | Maximum | Measurement Input, Interest Coverage Ratio
Debt Instrument [Line Items]
Debt instrument, measurement input		2.50
MSG Networks Credit Facilities | Maximum | Measurement Input, Leverage Coverage Ratio
Debt Instrument [Line Items]
Debt instrument, measurement input		5.27
MSG Networks | MSG Networks Credit Facilities | Measurement Input, Default Rate
Debt Instrument [Line Items]
Debt instrument, interest rate, increase (decrease)	2%
MSG Networks | MSG Networks Credit Facilities | Minimum
Debt Instrument [Line Items]
Commitment fee percentage	0.225%
MSG Networks | MSG Networks Credit Facilities | Minimum | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.25%
MSG Networks | MSG Networks Credit Facilities | Minimum | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Basis spread on variable rate	1.25%
MSG Networks | MSG Networks Credit Facilities | Maximum
Debt Instrument [Line Items]
Commitment fee percentage	0.30%
MSG Networks | MSG Networks Credit Facilities | Maximum | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate	1.25%
MSG Networks | MSG Networks Credit Facilities | Maximum | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Basis spread on variable rate	2.25%
MSG Networks | Revolving Credit Facility | MSG Networks Credit Facilities
Debt Instrument [Line Items]
Long-term debt, term	5 years
Principal		$ 0
MSG Networks | Revolving Credit Facility | MSG Networks Term Loan
Debt Instrument [Line Items]
Letters of credit outstanding, amount	$ 35,000,000
Secured Debt
Debt Instrument [Line Items]
Face amount	1,100,000,000
Secured Debt | MSG Networks
Debt Instrument [Line Items]
Long-term debt, percentage bearing variable interest rate, percentage rate		7.42%
Revolving Credit Facility | MSG Networks
Debt Instrument [Line Items]
Face amount	$ 250,000,000

Credit Facilities - LV Sphere -

Credit Facilities - LV Sphere - Narrative (Details) $ in Thousands	Dec. 22, 2022 USD ($)	Oct. 11, 2019 USD ($)	Sep. 30, 2023
LV Sphere | Subsidiaries
Debt Instrument [Line Items]
Interest rate			9.80%
Debt instrument, covenant, held in cash	$ 75,000
LV Sphere | Minimum Liquidity Step-Down | Subsidiaries
Debt Instrument [Line Items]
Debt instrument, covenant, held in cash	$ 25,000
LV Sphere | Measurement Input, Historical Debt Service Coverage Ratio | Subsidiaries
Debt Instrument [Line Items]
Debt instrument, measurement input	1.35
LV Sphere | Measurement Input, Prospective Debt Service Coverage Ratio | Subsidiaries
Debt Instrument [Line Items]
Debt instrument, measurement input	1.35
LV Sphere | Minimum | Subsidiaries
Debt Instrument [Line Items]
Debt covenant, minimum consolidated liquidity	$ 100,000
LV Sphere | Minimum | Minimum Liquidity Step-Down | Subsidiaries
Debt Instrument [Line Items]
Debt covenant, minimum consolidated liquidity	$ 50,000
LV Sphere | Minimum | Measurement Input, Historical Debt Service Coverage Ratio | Subsidiaries
Debt Instrument [Line Items]
Debt instrument, contingent measurement input	1.50
LV Sphere | Minimum | Measurement Input, Prospective Debt Service Coverage Ratio | Subsidiaries
Debt Instrument [Line Items]
Debt instrument, contingent measurement input	1.50
LV Sphere | Base Rate | Subsidiaries
Debt Instrument [Line Items]
Basis spread on variable rate	3.375%
LV Sphere | Secured Overnight Financing Rate (SOFR) | Subsidiaries
Debt Instrument [Line Items]
Basis spread on variable rate	0.10%	0.10%
Debt instrument, interest rate, increase (decrease)	4.375%
Secured Debt
Debt Instrument [Line Items]
Face amount		$ 1,100,000
Secured Debt | LV Sphere | Subsidiaries
Debt Instrument [Line Items]
Debt instrument term	5 years
Face amount	$ 275,000

Credit Facilities - Delayed Dra

Credit Facilities - Delayed Draw Term Loan Facility - Narrative (Details) - DDTL Facility - USD ($) shares in Thousands, $ in Thousands	Aug. 09, 2023	Apr. 20, 2023	Jul. 14, 2023
Sphere | MSG Entertainment | Common Class A
Line of Credit Facility [Line Items]
Debt conversion, converted instrument, shares issued (in shares)	1,923
Line of Credit | Sphere | Secured Debt | MSG Entertainment Holdings
Line of Credit Facility [Line Items]
Loans receivable, maximum borrowing amount		$ 65,000
Unsecured Debt
Line of Credit Facility [Line Items]
Debt instrument term		18 months
Face amount			$ 65,000

Credit Facilities - Schedule of

Credit Facilities - Schedule of Interest, Carrying Value, and Fair Value (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2023
Secured Debt | Line of Credit
Line of Credit Facility [Line Items]
Unamortized deferred financing costs	$ (5,790)		$ (6,363)
MSG Networks Term Loan | Secured Debt | Line of Credit
Line of Credit Facility [Line Items]
Unamortized deferred financing costs	(1,185)		(1,483)
MSG Networks Term Loan | Debt
Line of Credit Facility [Line Items]
Carrying Value	932,250		932,250
Fair Value	927,589		927,589
MSG Networks Term Loan | MSG Networks
Line of Credit Facility [Line Items]
Interest Payments	17,500	$ 9,596
Loan Principal Repayments	0	12,375
LV Sphere | Debt
Line of Credit Facility [Line Items]
Carrying Value	275,000		275,000
Fair Value	273,625		272,250
LV Sphere | LV Sphere
Line of Credit Facility [Line Items]
Interest Payments	6,745	0
Loan Principal Repayments	0	0
MSG Networks and LV Sphere
Line of Credit Facility [Line Items]
Interest Payments	24,705	9,596
Loan Principal Repayments	65,000	12,375
Total long-term debt, carrying value	1,207,250		1,207,250
Total long-term debt, fair value	1,201,214		$ 1,199,839
DDTL Facility
Line of Credit Facility [Line Items]
Interest Payments	460	0
Loan Principal Repayments	$ 65,000	$ 0

Pension Plans and Other Postr_3

Pension Plans and Other Postretirement Benefit Plan - Narrative (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2023 USD ($) plan	Sep. 30, 2022 USD ($)	Apr. 19, 2023 plan
Defined Contribution Plan Disclosure [Line Items]
Defined benefit plan, number of contributory welfare plans | plan			2
Defined benefit plan, number of sponsored plans | plan	1
Deferred compensation arrangement with individual, compensation income	$ 107	$ 154
Gain (loss) on remeasurement	(107)	$ (154)
Other Pension, Postretirement and Supplemental Plans
Defined Contribution Plan Disclosure [Line Items]
Defined benefit plan, plan assets, contributions by employer	$ 500

Pension Plans and Other Postr_4

Pension Plans and Other Postretirement Benefit Plan - Schedule of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Pension Plans and Postretirement Plan
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 61	$ 123
Interest cost	439	1,189
Expected return on plan assets	(213)	(1,719)
Recognized actuarial loss (gain)	(224)	501
Net periodic benefit cost	63	94
Postretirement Plan
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	5	15
Interest cost	17	19
Expected return on plan assets	0	0
Recognized actuarial loss (gain)	(17)	9
Net periodic benefit cost	$ 5	$ 43

Pension Plans and Other Postr_5

Pension Plans and Other Postretirement Benefit Plan - Schedule of Defined Contribution Plans (Details) - Savings Plan - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Defined Contribution Plan Disclosure [Line Items]
Total Savings Plan Expenses	$ 1,210	$ 2,565
Continuing Operations
Defined Contribution Plan Disclosure [Line Items]
Total Savings Plan Expenses	1,210	1,387
Discontinued Operations
Defined Contribution Plan Disclosure [Line Items]
Total Savings Plan Expenses	$ 0	$ 1,178

Pension Plans and Other Postr_6

Pension Plans and Other Postretirement Benefit Plan - Schedule of Deferred Compensation Plan Amounts Recognized On Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023
Retirement Benefits [Abstract]
Non-current assets (included in Other non-current assets)	$ 2,536	$ 1,087
Non-current liabilities (included in Other non-current liabilities)	$ (2,550)	$ (1,087)

Share-based Compensation, Restr

Share-based Compensation, Restricted Stock Units Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation capitalized in property and equipment	$ 906	$ 910
Payment, tax withholding, share-based payment arrangement	14,146	13,967
Performance Stock Units and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation	4,883	11,490
Vested in period, fair value	30,153	32,132
Share-based compensation capitalized in property and equipment	906	910
Payment, tax withholding, share-based payment arrangement	$ 13,976	$ 14,517

Share-based Compensation - Addi

Share-based Compensation - Additional Information (Details) shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2023 USD ($) plan shares	Sep. 30, 2022 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share-based compensation plans | plan	3
Basic (in shares)	34,911	34,403
Dilutive effect of shares issuable under share-based compensation plans (in shares)	315
Share-Based Payment Arrangement
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average anti-dilutive shares (in shares)	690
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted (in shares)	449	598
Awards vested (in shares)	564	493
Performance Stock Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted (in shares)	404	566
Awards vested (in shares)	241	82
Employee | Performance Stock Units and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost | $	$ 55,963
Period for recognition	2 years 5 months 19 days

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred stock, shares authorized (in shares)	15,000,000	15,000,000
Preferred stock, par or stated value per share (in shares)	$ 0.01	$ 0.01
Preferred stock, shares outstanding (in shares)	0	0
Common Class A
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock repurchase program, authorized amount			$ 350,000

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at the beginning of the period	$ 2,583,865	$ 1,975,384
Other comprehensive loss, net of income taxes	(6,045)	(12,626)
Balance at the end of the period	2,635,888	1,918,726
Pension Plans and Postretirement Plan
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at the beginning of the period	(5,138)	(40,287)
Other comprehensive loss:	0	0
Amounts reclassified from accumulated other comprehensive loss	(241)	510
Income tax benefit	63	(10)
Other comprehensive loss, net of income taxes	(178)	500
Balance at the end of the period	(5,316)	(39,787)
Cumulative Translation Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at the beginning of the period	200	(8,068)
Other comprehensive loss:	(7,919)	(16,080)
Amounts reclassified from accumulated other comprehensive loss	0	0
Income tax benefit	2,052	2,954
Other comprehensive loss, net of income taxes	(5,867)	(13,126)
Balance at the end of the period	(5,667)	(21,194)
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at the beginning of the period	(4,938)	(48,355)
Other comprehensive loss:	(7,919)	(16,080)
Amounts reclassified from accumulated other comprehensive loss	(241)	510
Income tax benefit	2,115	2,944
Other comprehensive loss, net of income taxes	(6,045)	(12,626)
Balance at the end of the period	$ (10,983)	$ (60,981)

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2023
Related Party Transaction [Line Items]
Capital expenditures incurred but not yet paid	$ 122,393	$ 35,986
Related Party
Related Party Transaction [Line Items]
Capital expenditures in connection with services provided	5,668	$ 50,670
Capital expenditures incurred but not yet paid	$ 16,084		$ 13,412
Dolan Family Group
Related Party Transaction [Line Items]
Common stock exercisable term	60 days
605 LLC | Audience Measurement And Data Analytics Services
Related Party Transaction [Line Items]
Miscellaneous expenses with related party	$ 1,000
Dolan Family Group
Related Party Transaction [Line Items]
Noncontrolling interest, ownership percentage by parent	72.10%
Dolan Family Group | Common Class B
Related Party Transaction [Line Items]
Noncontrolling interest, ownership percentage by parent	100%
Dolan Family Group | Common Class A
Related Party Transaction [Line Items]
Noncontrolling interest, ownership percentage by parent	5.60%

Related Party Transactions - Sc

Related Party Transactions - Schedule of Transactions by Type (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Related Party Transaction [Line Items]
Revenues	$ 118,007	$ 123,129
Operating expenses (credits):
Related party costs and expenses	(1,497)	(2,000)
Restructuring charges	3,391	0
Related Party
Related Party Transaction [Line Items]
Revenues	390	0
Operating expenses (credits):
Operating loss	76,323	34,471
Direct operating expenses	46,078	44,248
Selling, general and administrative expenses	30,245	9,777
Related Party | Media rights fees
Operating expenses (credits):
Related party costs and expenses	44,185	42,767
Related Party | Corporate general and administrative expenses, net - MSG Entertainment Transition Services Agreement (a)
Operating expenses (credits):
Restructuring charges	2,805
Related Party | Origination, master control and technical services
Operating expenses (credits):
Related party costs and expenses	1,257	1,232
Related Party | Other operating expenses, net
Operating expenses (credits):
Related party costs and expenses	544	(11)
MSG Sports | Cost reimbursement from MSG Sports - MSG Sports Services Agreement
Operating expenses (credits):
Related party costs and expenses	0	(9,517)
MSG Entertainment | Corporate general and administrative expenses, net - MSG Entertainment Transition Services Agreement (a)
Operating expenses (credits):
Related party costs and expenses	$ 30,337	$ 0

Segment Information - Additiona

Segment Information - Additional Information (Details)	3 Months Ended
	Sep. 30, 2023 segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segment Information - Schedule

Segment Information - Schedule of Segment Reporting (Details) - USD ($) $ in Thousands		3 Months Ended
		Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Revenues		$ 118,007	$ 123,129
Depreciation and amortization		(14,259)	(29,755)
Other gains, net		1,497	2,000
Restructuring charges		(3,391)	0
Other income, net		42,196	(415)
Add back:
Share-based compensation		4,883	15,188
Depreciation and amortization		14,259	29,755
Restructuring charges		3,391	0
Remeasurement of deferred compensation plan liabilities			(154)
Continuing Operations
Segment Reporting Information [Line Items]
Revenues	[1]	118,007	123,129
Direct operating expenses	[1]	(84,499)	(75,420)
Selling, general and administrative expenses	[1]	(87,144)	(94,631)
Depreciation and amortization		(14,259)	(6,133)
Other gains, net		1,497	2,000
Restructuring charges		(3,391)	0
Operating (loss) income		(69,789)	(51,055)
Interest income		4,378	3,333
Other income, net		42,196	(415)
Loss from continuing operations before income taxes		(23,215)	(48,137)
Reconciliation of operating (loss) income to adjusted operating (loss) income:
Operating (loss) income		(69,789)	(51,055)
Add back:
Share-based compensation		4,883	11,490
Depreciation and amortization		14,259	6,133
Restructuring charges		3,391	0
Merger and acquisition related costs, net of insurance recoveries		(9,043)	4,650
Amortization for capitalized cloud computing arrangement costs		22	121
Remeasurement of deferred compensation plan liabilities		(107)
Adjusted operating (loss) income		(57,881)	(30,815)
Other information:
Capital expenditures		184,571	261,466
Operating segments | Sphere
Segment Reporting Information [Line Items]
Revenues		7,779	650
Operating segments | Sphere | Continuing Operations
Segment Reporting Information [Line Items]
Revenues		7,779	650
Direct operating expenses		(7,805)	0
Selling, general and administrative expenses		(84,150)	(77,191)
Depreciation and amortization		(12,377)	(4,515)
Other gains, net		1,497	2,000
Restructuring charges		(3,391)
Operating (loss) income		(98,447)	(79,056)
Reconciliation of operating (loss) income to adjusted operating (loss) income:
Operating (loss) income		(98,447)	(79,056)
Add back:
Share-based compensation		3,919	9,786
Depreciation and amortization		12,377	4,515
Restructuring charges		3,391
Merger and acquisition related costs, net of insurance recoveries		(2,702)	2,749
Amortization for capitalized cloud computing arrangement costs		0	77
Remeasurement of deferred compensation plan liabilities		(107)
Adjusted operating (loss) income		(83,066)	(64,083)
Other information:
Capital expenditures		183,163	260,239
Operating segments | MSG Networks
Segment Reporting Information [Line Items]
Revenues		110,228	122,479
Add back:
Remeasurement of deferred compensation plan liabilities			0
Operating segments | MSG Networks | Continuing Operations
Segment Reporting Information [Line Items]
Revenues		110,228	122,479
Direct operating expenses		(76,694)	(75,420)
Selling, general and administrative expenses		(2,994)	(17,440)
Depreciation and amortization		(1,882)	(1,618)
Other gains, net		0	0
Restructuring charges		0
Operating (loss) income		28,658	28,001
Reconciliation of operating (loss) income to adjusted operating (loss) income:
Operating (loss) income		28,658	28,001
Add back:
Share-based compensation		964	1,704
Depreciation and amortization		1,882	1,618
Restructuring charges		0
Merger and acquisition related costs, net of insurance recoveries		(6,341)	1,901
Amortization for capitalized cloud computing arrangement costs		22	44
Remeasurement of deferred compensation plan liabilities		0
Adjusted operating (loss) income		25,185	33,268
Other information:
Capital expenditures		$ 1,408	1,227
Operating segments | MSGE
Add back:
Remeasurement of deferred compensation plan liabilities			$ (154)
[1]See Note 14. Related Party Transactions, for further information on related party revenues and expenses.

Segment Information - Schedul_2

Segment Information - Schedule of Concentration Risk (Details) - Customer Concentration Risk			3 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2023	Sep. 30, 2022
Accounts Receivable | Customer A
Revenue, Major Customer [Line Items]
Concentration risk, percentage	22%	23%
Accounts Receivable | Customer B
Revenue, Major Customer [Line Items]
Concentration risk, percentage	21%	22%
Accounts Receivable | Customer C
Revenue, Major Customer [Line Items]
Concentration risk, percentage	17%	17%
Revenue Benchmark | Customer 1
Revenue, Major Customer [Line Items]
Concentration risk, percentage			30%	31%
Revenue Benchmark | Customer 2
Revenue, Major Customer [Line Items]
Concentration risk, percentage			30%	31%
Revenue Benchmark | Customer 3
Revenue, Major Customer [Line Items]
Concentration risk, percentage			24%	26%

Additional Financial Informat_3

Additional Financial Information - Schedule of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 433,507	$ 131,965
Restricted cash	18,235	297,149
Total cash, cash equivalents and restricted cash	451,742	429,114
Continuing Operations
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	433,507	131,965
Restricted cash	18,235	297,149
Total cash, cash equivalents and restricted cash	$ 451,742	$ 429,114

Additional Financial Informat_4

Additional Financial Information - Schedule of Current Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023
Additional Financial Information [Abstract]
Prepaid expenses	$ 18,812	$ 22,616
Note and other receivables	28,441	21,453
Inventory	2,388	0
Current deferred production costs	11,624	6,524
Other	4,990	5,492
Total prepaid expenses and other current assets	$ 66,255	$ 56,085

Additional Financial Informat_5

Additional Financial Information - Schedule of Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023
Additional Financial Information [Abstract]
Accounts payable	$ 19,319	$ 39,654
Accrued payroll and employee related liabilities	42,809	75,579
Cash due to promoters	71,059	73,611
Capital related accruals	224,788	236,593
Accrued legal fees	24,679	53,857
Other accrued expenses	45,437	36,437
Total accounts payable, accrued and other current liabilities	$ 428,091	$ 515,731

Additional Financial Informat_6

Additional Financial Information - Schedule of Other Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Additional Financial Information [Abstract]
Gain on litigation settlement	$ 62,647	$ 0
Realized loss on equity method investments	(19,027)	(2,247)
Other	(1,424)	1,832
Other income (expense), net	$ 42,196	$ (415)

Additional Financial Informat_7

Additional Financial Information - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Additional Financial Information [Abstract]
Income taxes paid, net	$ 17,868	$ 974