Welcome to our dedicated page for Sphere Entertainment Co SEC filings (Ticker: SPHR), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Sphere Entertainment Co. (NYSE: SPHR) files a range of documents with the U.S. Securities and Exchange Commission that shed light on its operations in immersive entertainment and sports media. As a Nevada corporation with Class A common stock listed on the New York Stock Exchange, the company reports information about its Sphere and MSG Networks segments, financial performance and material corporate events through periodic and current reports.
On this page, you can review Sphere Entertainment’s SEC filings, including annual and quarterly reports that discuss revenues and expenses for the Sphere venue in Las Vegas and the MSG Networks regional sports and entertainment business. These reports describe how the company presents segment results, including revenues from The Sphere Experience performances, event-related activity, sponsorship, Exosphere advertising, suite license fees and distribution and other revenues at MSG Networks.
Current reports on Form 8-K provide details on specific events, such as leadership changes, employment agreements with senior officers, credit agreements and debt restructurings at MSG Networks, franchise and licensing arrangements for the planned Sphere Abu Dhabi venue, and the announcement of quarterly financial results. Other 8-K filings describe media rights amendments with professional sports teams and the structure of new term loan facilities.
Stock Titan’s platform offers real-time updates as new SPHR filings are posted to EDGAR, along with AI-powered summaries that explain the key points in clear language. Users can quickly scan complex documents, from results of operations disclosures to agreements affecting Sphere Abu Dhabi or MSG Networks, and identify items related to executive appointments, compensation arrangements and financing transactions. This page also surfaces insider-related filings, such as Forms 3, 4 and 5 when available, to help users monitor equity transactions by Sphere Entertainment’s directors and officers.
Ariel Investments, LLC has disclosed a significant passive stake in Sphere Entertainment Co. As of 12/31/2025, Ariel reports beneficial ownership of 3,168,534 shares of Class A common stock, representing 11.1% of the class. Ariel has sole voting power over 2,780,058 shares and sole dispositive power over 3,168,534 shares, with no shared voting or dispositive power.
The filing states the securities are held in the ordinary course of business and not for the purpose of changing or influencing control of Sphere Entertainment. Ariel’s adviser clients are entitled to dividends and sale proceeds from these shares, but no single client holds more than 5% of the class.
Sphere Entertainment Co. files its annual report describing a business built around two segments: the Sphere immersive venue platform and MSG Networks’ regional sports and streaming operations. The company changed its fiscal year-end to December 31 and now reports on a calendar-year basis.
Sphere in Las Vegas features a 17,600-seat bowl, a 16K x 16K interior LED screen, an LED Exosphere exterior and proprietary audio and 4D effects, hosting original productions, concerts, sports and brand events. Strategy centers on leveraging these technologies, expanding a global Sphere network with projects in Abu Dhabi and a planned smaller-scale venue at National Harbor, and monetizing advertising, sponsorship and premium hospitality.
MSG Networks operates the MSG Network and MSG Sportsnet channels plus the MSG+ direct-to-consumer service within the Gotham Sports streaming product, holding key local media rights for New York-area NBA and NHL teams. The filing highlights substantial competition, high capital needs for Sphere, material reliance on The Sphere Experience, significant MSG Networks debt obligations, regulatory exposure and evolving cybersecurity and data-privacy risks.
Sphere Entertainment Co. reported sharply improved results for the fourth quarter and full year 2025. Fourth-quarter revenue was $394.3 million, up 28% year over year, with net income attributable to stockholders of $57.6 million versus a prior-year loss. Full-year revenue reached $1,220.0 million, up 8%, while the operating loss narrowed to $229.6 million from $372.3 million. Adjusted operating income rose to $128.0 million in Q4 and $261.8 million for the year, an increase of 138%.
The Sphere segment drove growth, with Q4 revenue of $274.2 million, up 62%, and full-year revenue of $781.4 million, up 27%, though it still posted an operating loss. MSG Networks revenue declined. Cash provided by operating activities jumped to $243.3 million from $69.4 million. Management highlighted progress expanding the Sphere concept, including a planned smaller-scale venue at National Harbor, strong ticket sales for The Wizard of Oz at Sphere, repeat CES keynote usage, and new multi-year sponsorships.
Sphere Entertainment Co., through its subsidiary MSG Las Vegas, LLC, entered into new senior secured credit facilities with JPMorgan Chase and a lender group. The deal provides a $275 million term loan to refinance the existing term loan and a $275 million revolving credit facility for working capital and general corporate purposes, including possible distributions to Sphere Entertainment Group.
The facilities are guaranteed by Sphere Entertainment Group and secured by all MSG LV assets, including its leasehold interest in the Las Vegas Sphere site and a pledge of MSG LV equity. Key covenants require a minimum debt service coverage ratio of 2.50:1.00 and a maximum total leverage ratio of 3.50:1.00, tested quarterly. The facilities mature on January 29, 2031, with 5% annual amortization on the term loan beginning after the second anniversary. Interest is floating, based on Term SOFR or an alternative base rate plus leverage-based margins, and includes mandatory prepayments from certain insurance or condemnation proceeds, alongside customary restrictions on additional debt, liens, investments, dividends under specified conditions, affiliate transactions, mergers and other major actions.
Bank of Nova Scotia has filed an amended ownership report showing a significant but minority stake in Sphere Entertainment Co.. As of 12/31/2025, it beneficially owned 894,262 shares of Sphere’s Class A common stock, representing 3.06% of that share class. The bank reports sole voting and sole dispositive power over all of these shares, with no shared voting or investment authority. The filing confirms that Bank of Nova Scotia holds less than 5% of the class and is reporting in its capacity as a parent holding company under the applicable ownership rules.
Ariel Investments, LLC, a Delaware investment adviser, reported a passive ownership stake in Sphere Entertainment Co Class A common stock. Ariel beneficially owns 4,099,354 shares, representing 14.4% of the class. It has sole voting power over 3,645,520 shares and sole dispositive power over all 4,099,354 shares, with no shared voting or dispositive authority.
The filing notes that Ariel’s advisory clients have the right to receive dividends and sale proceeds from these securities. Within this total, Ariel Fund, a series of Ariel Investment Trust, owns 1,618,346 shares, which by itself represents an economic interest of more than five percent of the class. Ariel certifies that the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Sphere Entertainment.
Sphere Entertainment Co. (SPHR) filed an initial ownership report for a new senior officer. Christopher J. Winters, who became an officer of Sphere Entertainment Co. effective November 24, 2025, reported beneficial ownership of 3,160 shares of Class A Common Stock. The filing notes that he serves as Senior Vice President, Controller & Principal Accounting Officer and that these shares are held directly by him as of the report.
SPHR filed a Form 144 notice for a planned insider sale of Class A shares. The filing shows an intention to sell 10,000 Class A shares through Fidelity Brokerage Services on the NYSE, with an indicated aggregate market value of $805,054.55. The filing notes that 28,447,507 shares of this class are outstanding.
The 10,000 shares to be sold were acquired through restricted stock vesting on 09/15/2022 as compensation from the issuer. The seller, Andrea M. Greenberg, has also sold Class A shares of the same issuer during the past three months, totaling 54,620 shares, for gross proceeds of about $3.60 million across multiple transactions dated 09/11/2025, 09/18/2025, 11/04/2025, and 11/07/2025.
Sphere Entertainment Co. announced that its Board appointed Christopher Winters, 45, as Senior Vice President, Controller and Principal Accounting Officer, effective November 24, 2025. This role gives him primary responsibility for the company’s accounting and financial reporting functions.
Under his employment agreement, Mr. Winters will receive an annual base salary of $400,000 or more and will be eligible for an annual bonus targeted at 40% of base salary, with a pro-rated discretionary bonus for the period from July 1, 2025 through December 31, 2025. He is expected to receive annual long‑term incentive awards with an aggregate target value of at least $330,000, with a target of $287,500 for the fiscal year starting January 1, 2026. The agreement includes severance protections if he is terminated without cause or resigns for good reason before the third anniversary of his start date, as well as noncompetition covenants following any termination.
Sphere Entertainment Co. (SPHR): Point72 Asset Management, Point72 Capital Advisors, and Steven A. Cohen filed Amendment No. 4 to Schedule 13G reporting beneficial ownership of 223,464 shares of Class A Common Stock, representing 0.8% of the class, as of September 30, 2025.
The reporting persons have shared voting and dispositive power over 223,464 shares and no sole power. Point72 Asset Management holds authority via an investment management agreement for a managed fund; Point72 Capital Advisors is its general partner; Mr. Cohen controls both entities. They certify the securities were not acquired to change or influence control of the issuer.