<SEC-DOCUMENT>0000895421-25-000561.txt : 20251107
<SEC-HEADER>0000895421-25-000561.hdr.sgml : 20251107
<ACCEPTANCE-DATETIME>20251107120919
ACCESSION NUMBER:		0000895421-25-000561
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20251107
DATE AS OF CHANGE:		20251107

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Sphere Entertainment Co.
		CENTRAL INDEX KEY:			0001795250
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-AMUSEMENT & RECREATION SERVICES [7900]
		ORGANIZATION NAME:           	07 Trade & Services
		EIN:				843755666
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-91488
		FILM NUMBER:		251461431

	BUSINESS ADDRESS:	
		STREET 1:		TWO PENNSYLVANIA PLAZA
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10121
		BUSINESS PHONE:		(212) 465-6000

	MAIL ADDRESS:	
		STREET 1:		TWO PENNSYLVANIA PLAZA
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10121

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Madison Square Garden Entertainment Corp.
		DATE OF NAME CHANGE:	20200417

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MSG ENTERTAINMENT SPINCO, INC.
		DATE OF NAME CHANGE:	20191126

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MORGAN STANLEY
		CENTRAL INDEX KEY:			0000895421
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		ORGANIZATION NAME:           	02 Finance
		EIN:				363145972
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G

	BUSINESS ADDRESS:	
		STREET 1:		1585 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036
		BUSINESS PHONE:		212-761-4000

	MAIL ADDRESS:	
		STREET 1:		1585 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MORGAN STANLEY DEAN WITTER & CO
		DATE OF NAME CHANGE:	19980326

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DEAN WITTER DISCOVER & CO
		DATE OF NAME CHANGE:	19960315
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common" xmlns:g="http://xml.ms.com/ns/itlnc/filelink/US13GFiling/v1.0" xmlns:p="http://www.sec.gov/edgar/schedule13g">
  <headerData>
    <submissionType>SCHEDULE 13G</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0000895421</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <securitiesClassTitle>Class A Common Stock</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>09/30/2025</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0001795250</issuerCik>
        <issuerName>Sphere Entertainment Co.</issuerName>
        <issuerCusip>55826T102</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>TWO PENNSYLVANIA PLAZA</com:street1>
          <com:city>NEW YORK</com:city>
          <com:stateOrCountry>NY</com:stateOrCountry>
          <com:zipCode>10121</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Morgan Stanley</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>1698864</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>1747934</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>1747934</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>6.0</classPercent>
      <typeOfReportingPerson>HC</typeOfReportingPerson>
      <typeOfReportingPerson>CO</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>Sphere Entertainment Co.</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>TWO PENNSYLVANIA PLAZA, NEW YORK, NY, 10121</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>Morgan Stanley</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>1585 Broadway, New York, NY 10036</principalBusinessOfficeOrResidenceAddress>
        <citizenship>Delaware</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>N</notApplicableFlag>
        <typeOfPersonFiling>HC</typeOfPersonFiling>
      </item3>
      <item4>
        <amountBeneficiallyOwned>See the response(s) to Item 9 on the attached cover page(s).</amountBeneficiallyOwned>
        <classPercent>6.0</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>See the response(s) to Item 5 on the attached cover page(s).</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>See the response(s) to Item 6 on the attached cover page(s).</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>See the response(s) to Item 7 on the attached cover page(s).</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>See the response(s) to Item 8 on the attached cover page(s).</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
        <classOwnership5PercentOrLess>N</classOwnership5PercentOrLess>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

					*  In Accordance with the Securities and Exchange Commission Release
					No. 34-39538 (January 12, 1998) (the "Release"), this filing reflects the
					securities beneficially owned, or that may be deemed to be beneficially owned,
					by certain operating units (collectively, the "MS Reporting Units") of Morgan
					Stanley and its subsidiaries and affiliates (collectively, "MS").  This filing
					does not reflect securities, if any, beneficially owned by any operating units
					of MS whose ownership of securities is disaggregated from that of the MS
					Reporting Units in accordance with the Release.
					</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>Morgan Stanley</reportingPersonName>
      <signatureDetails>
        <signature>Christopher O'Hara</signature>
        <title>Authorized Signatory, Morgan Stanley</title>
        <date>11/07/2025</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
</edgarSubmission>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
