Madison Square Garden Entertainment Corp. (MSGE) Q2 2023 Earnings Conference Call February 9, 2023 10:00 AM ET

Company Participants

Ari Danes - Senior Vice President Investor Relations, Financial Communications and Treasury

Dave Byrnes - Executive Vice President and Chief Financial Officer

Andrea Greenberg - President and Chief Executive Officer

Conference Call Participants

Brandon Ross - LightShed Partners

David Karnovsky - JPMorgan

Devin Brisco - Wolfe Research

Paul Golding - Macquarie Capital

Operator

Good morning. Thank you for standing by and welcome to the Madison Square Garden Entertainment Corp. Fiscal 2023 Second Quarter Earnings Conference Call. At this time all participants are in a listen-only mode. After the speakers remarks there will be a question-and-answer session. [Operator Instructions]

I would now like to turn the call over to Ari Danes, Senior Vice President Investor Relations, Financial Communications and Treasury. Please go ahead.

Ari Danes

Thank you. Good morning, and welcome to MSG Entertainment's fiscal 2023 second quarter earnings conference call. Dave Byrnes, our EVP and Chief Financial Officer will begin today's call with an update on the company's proposed spin-off, as well as a discussion of our entertainment and TAO Group segments. This will be followed by an update from Andrea Greenberg, President and CEO of MSG Networks. Dave will then conclude with a review of our financial results for the period.

After our prepared remarks, we will open up the call for questions. If you do not have a copy of today's earnings release, it is available in the Investors section of our corporate website.

Please take note of the following. Today's discussion may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements.

Please refer to the company's filings with the SEC for a discussion of risks and uncertainties. The company disclaims any obligation to update any forward-looking statements that may be discussed during this call.

On pages 5 and 6 of today's earnings release, we provide consolidated statements of operations and a reconciliation of operating income to adjusted operating income or AOI, a non-GAAP financial measure.

And with that, I will now turn the call over to Dave.

Dave Byrnes

Thank you, Ari, and good morning, everyone. I'd like to begin today's call with an update on the progress we have made toward our proposed spin-off. As you know in December we announced a revised plan for the separation of our businesses and are now pursuing a spin-off of our traditional live entertainment business from our MSG Sphere, MSG Networks and TAO Group businesses.