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.
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. reported that Andrea Greenberg, President & Chief Executive Officer of its subsidiary MSG Networks Inc., left the subsidiary on September 2, 2025 after her employment agreement expired on September 1, 2025. Subject to her signing and not revoking a release agreement, she will receive full vesting of restricted and performance stock units scheduled to vest on September 15, 2025, a cash payment equal to her 2025 target bonus in place of any bonus under the Company’s Management Performance Incentive Plan for the fiscal year ended December 31, 2025, and a waiver of the non-compete covenant in her employment agreement.
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.
Sphere Entertainment Co. announced that it has reported its financial results for the second quarter ended June 30, 2025 and has furnished a press release containing that announcement as Exhibit 99.1 to this Form 8-K. The filing does not include the company’s financial tables or metrics within the body of the 8-K itself.
The company states the information provided in Item 2.02 and Exhibit 99.1 is being furnished (not "filed") for purposes of the Exchange Act and therefore is not subject to Section 18 liabilities nor incorporated by reference into other filings. The registrant’s trading symbol appears as SPHR on the New York Stock Exchange.
Sphere Entertainment Co. (NYSE: SPHR) filed an 8-K to disclose the closing of a comprehensive debt restructuring and related agreements for its wholly-owned subsidiary MSG Networks Inc. and the direct borrower MSGN Holdings, L.P. (the “Borrower”). The centerpiece is a $210 million senior secured term loan maturing December 2029 that replaces the 2019 credit facility in its entirety. The new loan carries interest at SOFR + 5.00% and requires fixed amortization of $10 million per quarter beginning Q3-25, plus a 100% excess-cash sweep each quarter. SPHR contributed $15 million of equity on the 27 June 2025 effective date, allowing the Borrower to make an $80 million cash payment to lenders on closing.
The facility is backed by guarantees from the holding entities and all existing and future domestic subsidiaries of the Borrower, with a full security package that pledges equity interests and other assets. Sphere Entertainment Group and its non-credit subsidiaries are expressly excluded from repayment obligations and collateral pledges.
Covenants are broadly restrictive, limiting additional debt, liens, dividends, affiliate transactions, asset sales and other corporate actions, while allowing voluntary prepayments at par (subject to standard breakage).
Parallel agreements were executed to bolster liquidity and align incentives:
- Investor Agreement: SPHR forgives intercompany service balances through 30 June 2025, will continue to provide shared services at a reduced rate through 2029 and formally includes the Borrower in SPHR’s consolidated U.S. tax group.
- Amended LPA: Lenders received Contingent Interest Units that, after the term loan is fully repaid, give them 50% of excess cash (above agreed cushions) and 50% of M&A proceeds, in each case capped at $100 million through 2029.
- Media-rights amendments: Annual rights fees to the New York Knicks and New York Rangers are reduced by 28% and 18%, respectively, escalators are removed, and contract terms now end after the 2028-29 season with MSG Networks retaining a right of first refusal.
- MSG Networks issued penny warrants to MSG Sports covering 19.9% of its common stock.
Overall, the transaction extends debt maturities by roughly four and a half years, injects fresh equity, lowers near-term cash interest on a smaller principal balance, and meaningfully reduces sports-rights cash outflows, albeit at the cost of tighter covenants, a high spread over SOFR, and potential future cash sharing and equity dilution.