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v3.26.1

Credit Facilities and Convertible Notes - Debt Outstanding and Deferred Financing Costs (Details) - USD ($) $ in Thousands | Mar. 31, 2026 | Dec. 31, 2025 | Dec. 08, 2023
--- | --- | --- | ---
Current portion |  |  |
Principal | $ 57,690 | $ 63,009 |
Unamortized Deferred Financing Costs | 0 | 0 |
Net | 57,690 | 63,009 |
Non-current portion |  |  |
Principal | 760,912 | 774,445 |
Debt Discount | (3,816) | (4,168) |
Unamortized Deferred Financing Costs | (4,396) | (2,838) |
Net | 752,700 | $ 767,439 |
2022 LV Sphere Term Loan Facility |  |  |
Non-current portion |  |  |
Interest rate |  | 8.19% |
Line of Credit | MSG Networks term loan facility |  |  |
Current portion |  |  |
Principal | 57,690 | $ 63,009 |
Unamortized Deferred Financing Costs | 0 | 0 |
Net | 57,690 | 63,009 |
Line of Credit | MSG Networks term loan facility | Secured Debt |  |  |
Non-current portion |  |  |
Principal | 227,162 | 240,695 |
Debt Discount | 0 | 0 |
Unamortized Deferred Financing Costs | 0 | 0 |
Net | 227,162 | 240,695 |
Line of Credit | 2026 LV Sphere Term Loan Facility |  |  |
Non-current portion |  |  |
Principal | 275,000 | 0 |
Debt Discount | 0 | 0 |
Unamortized Deferred Financing Costs | (3,779) | 0 |
Net | 271,221 | 0 |
Line of Credit | 2022 LV Sphere Term Loan Facility |  |  |
Non-current portion |  |  |
Principal | 0 | 275,000 |
Debt Discount | 0 | 0 |
Unamortized Deferred Financing Costs | 0 | (2,151) |
Net | $ 0 | 272,849 |
Convertible Debt | 3.50% Convertible Senior Notes |  |  |
Non-current portion |  |  |
Interest rate | 3.50% |  | 3.50%
Principal | $ 258,750 | 258,750 |
Debt Discount | (3,816) | (4,168) |
Unamortized Deferred Financing Costs | (617) | (687) |
Net | $ 254,317 | $ 253,895 |

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