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Investments | 12 Months Ended
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Jun. 30, 2024
Equity Method Investments, Joint Ventures And Cost Method Investments [Abstract] |
Investments | Investments The Company’s investments in nonconsolidated affiliates are included within Investments in the accompanying consolidated balance sheets and consisted of the following:
|  |  |  | Investment As of June 30, |  |  |  |  |
|  | Investment Ownership Percentage as of June 30, 2024 |  | 2024 |  | 2023 |  |  |  |  |
Equity method investments: |  |  |  |  |  |  |  |  |  |  |
SACO Technologies Inc. (“SACO”) |  | 30% |  | $ | 18,342 |  |  | $ | 22,246 |  |  |  |  |  |
Crown Properties Collection LLC (“CPC”) |  | 8% |  | 60 |  |  | — |  |  |  |  |  |
Gotham Advanced Media and Entertainment, LLC (“GAME”) |  | 50% |  | 680 |  |  | — |  |  |  |  |  |
Holoplot Loan (a) |  |  |  | — |  |  | 20,971 |  |  |  |  |  |
Holoplot |  | —% |  | — |  |  | 1,542 |  |  |  |  |  |
MSG Entertainment (b) |  | —% |  | — |  |  | 341,039 |  |  |  |  |  |
Equity investments without readily determinable fair values |  |  |  | 8,721 |  |  | 8,721 |  |  |  |  |  |
Other equity investments with readily determinable fair values held in trust under the Company’s Executive Deferred Compensation Plan (c) |  |  |  | 2,925 |  |  | 1,087 |  |  |  |  |  |
Total investments |  |  |  | $ | 30,728 |  |  | $ | 395,606 |  |  |  |  |  |
_________________ (a) In January 2023, the Company, 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. Following the acquisition of Holoplot during the fourth quarter of Fiscal Year 2024 (further discussed below), the Holoplot Loan is eliminated in consolidation. (b) As of June 30, 2024, 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. (c) The Company’s investments with readily determinable fair values are classified within Level I of the fair value hierarchy as they are based on quoted prices in active markets. Refer to Note 14. Pension Plans and Other Postretirement Benefit Plan, for further detail on the Company’s Executive Deferred Compensation Plan. Equity Method Investments The Company determined that it has the ability to exert significant influence over the investee and therefore accounts for the following investments under the equity method of accounting. SACO In Fiscal Year 2019, the Company acquired a 30% interest in SACO, a global provider of high-performance LED video lighting and media solutions, for a total consideration of $47,244. The Company is utilizing SACO as a preferred display technology provider for Sphere in Las Vegas based upon commercial terms. The total consideration consisted of a $42,444 payment at closing and a $4,800 deferred payment, which was made in October 2018. As of the acquisition date, the carrying amount of the investment was greater than the Company’s equity interest in the underlying net assets of SACO. As such, the Company allocated the difference to amortizable intangible assets of $25,350 and is amortizing these intangible assets on a straight-line basis over the expected useful lives ranging from 6 years to 12 years as a basis adjustment to the carrying amount of the investment. CPC In March 2024, the Company paid $51 for an 8.3% investment in CPC. CPC represents sports and entertainment brands and venues, including those of the Company, MSG Entertainment and MSG Sports, in connection with the sale of their respective sponsorship, advertising and marketing partnerships assets. The Company’s share of CPC’s results is picked-up on a three month lag. GAME In January 2024 MSG Networks and The YES Network (“YES”) announced they formed GAME, a 50/50 joint venture aimed at capitalizing on technical and operational synergies associated with YES’ and MSG Network's streaming services. In Fiscal Year 2024, the Company contributed a total of $680 to GAME as part of its ownership stake. The Company’s share of GAME’s results is picked-up o n a three mo nth lag. Holoplot In Fiscal Year 2018, the Company acquired a 25% interest in Holoplot, a global leader in 3D audio technology based in Berlin, Germany. In Fiscal Year 2023, the Company extended financing to Holoplot in the form of the Holoplot Loan of €18,804, equivalent to $20,484 using the applicable exchange rate at the time of the transaction. The Holoplot Loan was comprised of $7,625 cash and $12,859 of outstanding deposits paid by the Company to Holoplot in prior periods, plus accrued interest. On April 25, 2024, in connection with the Company’s strategy to expand our capabilities and enable further innovation across immersive experiences and 3D audio technology, the Company entered into a share purchase and transfer agreement to acquire the remaining equity interest in Holoplot not previously owned by the Company. The initial purchase price of $11,181, is net of cash acquired of $2,554. The acquisition date fair value of the Company’s previous equity interest and the fair value of the Holoplot Loan were included in the measurement of the total consideration transferred. The Company recognized the remeasurement fair value of the previous equity interest as a gain of $5,689, and also recognized a loss of $10,262 related to the fair value over the carrying of the previously held Holoplot Loan, which are both included in Impairment and other (losses) gains, net within the consolidated statements of operations for Fiscal Year 2024. The Company preliminarily recognized $17,818 of intangible assets, and $13,345 of goodwill on the consolidated balance sheets as of June 30, 2024 as a result of the business combination and is in the process of finalizing its purchase price allocation related to certain of its contractual agreements. Following the acquisition on April 25, 2024, Holoplot is now a consolidated subsidiary of the Company, and the Holoplot Loan is eliminated in consolidation. MSG Entertainment The Company held an investment in MSG Entertainment’s Class A common stock, the MSGE Retained Interest. MSG Entertainment is a related party that is listed on the NYSE under the symbol “MSGE.” See Note 1. Description of Business and Basis of Presentation, for details regarding the MSGE Retained Interest. The following table summarizes the unrealized and realized gains (losses) on the MSGE Retained Interest, which are reported in Other income (expenses), net in the accompanying consolidated statements of operations:
|  | June 30, 2024 |  | June 30, 2023 |  |
Unrealized gain |  | $ | — |  |  | $ | 341,039 |  |  |
(Loss) gain from shares sold |  | (19,027) |  |  | 204,676 |  |  |
Total realized and unrealized (loss) gain |  | $ | (19,027) |  |  | $ | 545,715 |  |  |
Supplemental information on realized (loss) gain: |  |  |  |  |  |
Shares of common stock disposed(a) |  | 1,923 |  |  | — |  |  |
Shares of common stock sold(b) |  | 8,221 |  |  | 6,878 |  |  |
Cash proceeds from common stock sold |  | $ | 256,501 |  |  | $ | 204,676 |  |  |
_________________ (a) Refer to Note 13. Credit Facilities and Convertible Notes, for further explanation of the approximately 1,923 shares disposed related to the repayment of the DDTL Facility. (b) The sale of approximately 8,221 shares of MSG Entertainment Class A common stock resulted in the cash proceeds from common stock sold. Executive Deferred Compensation Plan The Company holds other equity investments with readily determinable fair values in trust under the Company’s Executive Deferred Compensation Plan. The Company recorded unrealized gains of $307, $218, and $0, for the years ended June 30, 2024, 2023 and 2022, respectively, within Other income (expense), net to reflect the remeasurement of the fair value of assets under the Executive Deferred Compensation Plan.

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- Definition The entire disclosure for the information summarizing investments in and advances to majority-owned subsidiaries, other controlled companies, and other affiliates. It reflects specified information about ownership, financial results from, and financial position in such entities. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.12-14(Column E)(Footnote 6)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477271/946-320-S99-6 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.12-14(Column E)(Footnote 6)(c)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477271/946-320-S99-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.12-14(Column A)(Footnote 1)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477271/946-320-S99-6 + Details
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