NEW YORK - Madison Square Garden Entertainment Corp. (NYSE: NYSE:MSGE) and Sphere Entertainment Co. (NYSE: SPHR) have announced the appointment of Laura Franco as Executive Vice President and General Counsel, effective February 20. Franco brings over three decades of legal experience to her new role, where she will serve as the chief legal officer for both companies.
Franco's responsibilities will encompass oversight of all legal functions, including corporate, commercial, transactional, litigation, and regulatory matters. She will be instrumental in managing business legal affairs for MSG Entertainment and Sphere Entertainment, guiding the development, negotiation, and execution of key business transactions.
James L. Dolan, Executive Chairman and CEO of both companies, expressed confidence in Franco's capabilities, citing her extensive background in handling high-profile legal issues in the media industry. Franco, in turn, acknowledged the significance of her new position and expressed eagerness to contribute to the legal operations and growth strategies of both companies.
Prior to this appointment, Franco served as Chief Legal and Compliance Officer at Bumble Inc., where she played a pivotal role in the company's Initial Public Offering and the establishment of its public company governance. Her previous experience includes over 25 years at Viacom Inc. and CBS Corporation (NYSE:CBS_old), culminating in her role as Executive Vice President, General Counsel, where she led critical initiatives, including the CBS-Viacom merger in 2019.
The information in this article is based on a press release.
InvestingPro Insights
As Madison Square Garden Entertainment Corp. (NYSE: MSGE) welcomes Laura Franco to their executive team, investors and stakeholders may find value in recent financial data and market insights. According to InvestingPro, MSGE has been actively repurchasing shares, signaling management's confidence in the company's value. Additionally, four analysts have recently revised their earnings estimates upwards for the upcoming period, suggesting a positive outlook on MSGE's financial performance.
In terms of valuation, MSGE is trading at a Price-to-Earnings (P/E) ratio of 21.66, which is considered low relative to its near-term earnings growth potential. Despite showing a high earnings multiple in the last twelve months as of Q1 2024, the company's PEG ratio stands at an attractive 0.21, indicating that its earnings growth rate may justify the P/E ratio. Investors should note that while MSGE does not pay a dividend, analysts predict the company will be profitable this year, having been profitable over the last twelve months.
For those considering an investment in MSGE, the InvestingPro platform offers additional insights and metrics, including a more comprehensive analysis of the company's financial health and performance. With the New Year sale, a subscription to InvestingPro is now available at a discount of up to 50%. Use coupon code "SFY24" to get an additional 10% off a 2-year InvestingPro+ subscription, or "SFY241" to get an additional 10% off a 1-year InvestingPro+ subscription. There are numerous other InvestingPro Tips available on the platform to help guide your investment decisions.
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