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Related Party Transactions | 6 Months Ended
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Jun. 30, 2026
Related Party Transactions [Abstract] |
Related Party Transactions | Related Party Transactions As of June 30, 2026, certain m embers of the Dolan family, including certain trusts for the benefit of members of the Dolan family (collectively, the “Dolan Family Group”), collectively beneficially owned 100% of the Company’s outstanding Class B Common Stock, par value $0.01 per share (“Class B Common Stock”) and approximately 6.3% of the Company’s outstanding Class A Common Stock (inclusive of options exercisable within 60 days after June 30, 2026) for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended. Such shares of the Company’s Class A Common Stock and Class B Common Stock, collectively, represent approximately 72.0% 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, Madison Square Garden Sports Corp. (“MSG Sports”) and AMC Global Media Inc. (formerly AMC Networks Inc., “AMC Networks”). See Note 19. Related Party Transactions, to the Audited Consolidated Financial Statements included in the Form 10-K for a description of the Company’s related party arrangements. There were no material changes in such related party arrangements during the three and six months ended June 30, 2026. Accrued liabilities associated with other equity method investment nonconsolidated affiliates were $18,204 as of June 30, 2026 and December 31, 2025, and are reported under Accrued expenses and other current liabilities in the accompanying condensed consolidated balance sheets. Revenues and Operating Expenses The following table summarizes the composition and amounts of the transactions with the Company’s related parties. These amounts are reflected in revenues and operating expenses in the accompanying condensed consolidated statements of operations for the three and six months ended June 30, 2026 and 2025:
|  | Three Months Ended |  | Six Months Ended
|  | June 30, |  | June 30,
|  | 2026 |  | 2025 |  | 2026 |  | 2025
Revenues |  | $ | 296 |  |  | $ | 1,202 |  |  | $ | 1,638 |  |  | $ | 2,486 |
Operating expenses: |  |  |  |  |  |  |  |
Media fees |  | 33,915 |  |  | 24,181 |  |  | 68,186 |  |  | 69,124 |
Corporate general and administrative expenses, net - MSG Entertainment Services Agreement |  | 16,504 |  |  | 17,188 |  |  | 32,967 |  |  | 34,522 |
Origination, master control and technical services |  | 1,184 |  |  | 1,161 |  |  | 2,368 |  |  | 2,322 |
Other operating expenses, net (a) |  | 5,934 |  |  | 2,270 |  |  | 9,953 |  |  | 5,750 |
Total operating expenses, net (b) |  | $ | 57,537 |  |  | $ | 44,800 |  |  | $ | 113,474 |  |  | $ | 111,718 |
_________________ (a) Other operating expenses, net, includes reimbursements to MSG Entertainment for aircraft-related expenses, professional and payroll fees, and Crown Properties Collection LLC (“CPC”) commission, as well as AMC Global Media consulting service fees. In June 2025, CPC repurchased the Company’s equity interest in CPC, and as a result, CPC is no longer considered to be a related party. (b) Of the total operating expenses, net $35,197 and $70,644 for the three and six months ended June 30, 2026, respectively, and $25,411 and $71,698 for the three and six months ended June 30, 2025, respectively, are included in Direct operating expenses in the accompanying condensed consolidated statements of operations. Of the total operating expenses, net, $22,340 and $42,831 for the three and six months ended June 30, 2026, respectively, and $19,389 and $40,020 for the three and six months ended June 30, 2025, respectively, are included in Selling, general and administrative expenses in the accompanying condensed consolidated statements of operations.

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