Sphere Entertainment Co SEC Filings

Sphere Entertainment Co. insider transfer of Class B shares to trusts: This Form 4 reports that on September 8, 2025 a trust for which Kathleen Margaret Dolan serves as a trustee received 46,697 shares of Class B Common Stock as partial repayment of a promissory note. Class B shares are convertible one-for-one into Class A Common Stock, and the shares were valued for the repayment at $52.2025 per share (the mean of the high and low trading price of Class A on that date).

The filing shows the trusts hold 2,810,212 shares of Class A Common Stock following the transaction. The reporting person indicates indirect ownership through the trusts and expressly disclaims beneficial ownership of the securities held by those trusts. The Form 4 was signed by an attorney-in-fact on behalf of the reporting person on September 10, 2025.

Patrick Francis Dolan filed an initial Form 3 reporting beneficial ownership of 1,075 shares of Class A Common Stock of Sphere Entertainment Co. (Ticker: SPHR). The event date is 09/08/2025 and the filing shows the shares are directly owned. The filing was signed by an attorney-in-fact on 09/10/2025. Address listed is the Dolan Family Office in Woodbury, NY.

The Marianne E. Dolan Weber 2012 Descendants Trust filed a Form 3 for Sphere Entertainment Co. (SPHR) reporting that, as of the event date 09/08/2025, no securities are beneficially owned. The filing is an initial statement under Section 16 and was signed by Brian G. Sweeney as attorney‑in‑fact on 09/10/2025. The form lists the trust's address in Yorktown Heights, NY 10598 and indicates the filing was made by one reporting person.

Charles F. Dolan 2009 Family Trust FBO Patrick F. Dolan filed an Initial Form 3 reporting a Section 16 event for Sphere Entertainment Co. (ticker SPHR) dated 09/08/2025. The filing lists the reporting person as an Officer and states explicitly: No securities are beneficially owned. The form is signed by an attorney-in-fact on behalf of the trust on 09/10/2025.

Sphere Entertainment Co. (SPHR) filed an initial Form 3 reporting that the reporting person, Kathleen M. Dolan 2012 Descendants Trust, has no securities beneficially owned in the issuer as of the event date 09/08/2025. The form identifies the reporting persons address and that the filing was executed by an attorney-in-fact, Brian G. Sweeney, on 09/10/2025. The filing is a single-person submission and lists the reporting persons relationship to the issuer as an officer.

Amendment No. 6 to a Schedule 13D reports changes in beneficial ownership of Sphere Entertainment Co. (Class A common stock, ticker SPHR) by members of the Dolan family and related trusts. The Group Members collectively may be deemed to beneficially own 8,787,042 shares of Class A Common Stock, representing approximately 24.6% of the Common Stock, comprised of 1,920,288 shares directly held and 6,866,754 shares issuable upon conversion of Class B stock. The filing discloses that on September 8, 2025 the Charles F. Dolan 2009 Revocable Trust transferred 341,684 shares of Class B Common Stock to certain Group Members in partial repayment of promissory notes at a valuation of $52.2025 per share. As a result, the CFD 2009 Trust ceased to be a Group Member and several new trusts and Patrick F. Dolan were added as Group Members. The filing also updates parties to the Class B Stockholders' Agreement and registration/affiliate agreements and replaces Exhibit A/B information.

Sphere Entertainment Co Schedule 13G/A filed by Ariel Investments, LLC reports beneficial ownership of 7,100,237 shares of Class A common stock, representing 24.4% of the class. Ariel reports sole voting power over 6,345,811 shares and sole dispositive power over 7,100,237 shares. The filing identifies Ariel as an investment adviser organized in Delaware and cites CUSIP 55826T102 and Amendment No. 11.

Ariel states these securities are held in the ordinary course of business and were not acquired to change or influence control. Ariel Fund (a series of Ariel Investment Trust) holds 2,876,586 shares, an economic interest exceeding 5% of the reported securities.

Sphere Entertainment Co. reported a quarter with a large, non-cash financial benefit that swung results to a profit. On a GAAP basis (amounts in thousands), the company recorded a $346,092 gain on extinguishment of debt related to the restructuring of MSG Networks’ term loan, which produced income from continuing operations of $151,816 for the three months ended June 30, 2025 and basic EPS of $4.18. Excluding that extinguishment gain, operating results remained weak: operating loss was $50,159 as depreciation and SG&A remained significant.

Balance sheet and liquidity changed materially: cash and restricted cash declined to $368,927 from $515,633, total assets fell to $4,199,061, and total stockholders' equity rose to $2,313,687 as the accumulated deficit narrowed. The company completed a refinancing under an amended MSGN credit agreement that replaced the prior facility with a $210,000 MSGN term loan (maturing 2029) and created contingent interest units; the carrying amount of the restructured MSGN loan under troubled debt guidance was $363,970. Material legacy items include a prior goodwill impairment of $61,200 for MSG Networks and significant future commitments, including broadcast rights totaling $861,131.