Holiday on Ice is an ice show currently owned by Medusa Music Group GmbH, a subsidiary of CTS EVENTIM, Europe's largest ticket distributor, with its headquarters in Bremen, Germany.
47-663: Madison Square Garden Sports Corp. (also known as MSG Sports ) is an American sports holding company based in New York City. MSG Sports manages professional sports teams. These include the National Basketball Association 's New York Knicks and their NBA G League affiliate, the Westchester Knicks , and the National Hockey League 's New York Rangers and their American Hockey League affiliate,
94-526: A combined show in 1980 and 1981. The first Disney's World on Ice began touring in 1981. In 1964, Chalfen retained ownership of the international Holiday on Ice tour separating ownership from the North America -based company. After several changes of ownership, today it primarily tours with only two productions in Europe. In 1996, the company was purchased by Endemol Entertainment . On October 2, 2014,
141-709: A controlling stake in professional video gaming team Counter Logic Gaming . On April 6, 2023, it was announced that NRG Esports had purchased the rights to CLG's League of Legends spot in the League Championship Series (LCS), and that other divisions and members of CLG had been released. As a result, MSG was given a major stake in NRG. On several occasions, the Madison Square Garden Company has generated controversy in regard to how it approaches its competition. On two occasions they made attempts to block
188-719: A majority stake in nightlife group Tao Group . The company formerly owned the New York Liberty of the WNBA , until the team was sold in 2018. The company also formerly operated the Hartford Civic Center in Hartford, Connecticut , and Rentschler Field in East Hartford under contract with the state of Connecticut until the 2007 season when it was replaced by Northland/ Anschutz Entertainment Group . On July 31, 2017, MSG acquired
235-573: A matter of broadcast regulation . In the United States, a personal holding company is defined in section 542 of the Internal Revenue Code . A corporation is a personal holding company if both of the following requirements are met: A parent company is a company that owns enough voting power in another firm (or subsidiary ) to control management and operations by influencing or electing its board of directors . The definition of
282-647: A new arena by trying to stop its construction. In March 2019, leaked emails revealed that Irving Azoff attempted to lure the Los Angeles Lakers back to The Forum after their lease at the Staples Center was up. Despite nothing coming of the proposal, Azoff's proposal to re-purpose The Forum was seen as a way of preventing the Los Angeles Clippers from building their own arena in Inglewood and ensuring that
329-475: A new, younger audience. The once large "Corps de Ballet" of skaters has been reduced from 24 girls + 12 boys to 20 girls + 10 boys (between 1998 and 2008), and 14 girls + 10 boys (from 2009) and elaborate costuming has been replaced in favour of small modern stylings. Also the music choice from mainly Broadway show scores has been changed and adapted to the contemporary taste of actual pop music and even rock. Novelty acts such as acrobats have been added regularly to
376-425: A parent company differs from jurisdiction to jurisdiction, with the definition normally being defined by way of laws dealing with companies in that jurisdiction. When an existing company establishes a new company and keeps majority shares with itself, and invites other companies to buy minority shares, it is called a parent company. A parent company could simply be a company that wholly owns another company, which
423-636: A second unit of Holiday on Ice. After her touring company was shut down, Sonja Henie joined Holiday on Ice in 1953, remaining part of the show until 1956. Her first performance with the company was in Paris while her final show was in South America. In Asia , Holiday on Ice first performed at the Philippine International Fair of 1953 in Manila; followed by a return visit in 1955. Starting in 1961,
470-577: A spherical music venue in Las Vegas , called MSG Sphere Las Vegas , planned to open in 2021. Earlier in the year, MSG announced plans to build MSG Sphere London , near the Queen Elizabeth Olympic Park in Stratford . Both venues are designed by Populous architects and are supposed to incorporate highly advanced audio and visual technologies. In November 2019, MSG announced its intent to perform
517-595: A tax-free spin off its non-sports assets as a new publicly traded company. Both companies would remain controlled by the Dolan family. The spin-off was completed in April 2020, with the entertainment assets spun off as Madison Square Garden Entertainment , and the existing company renamed Madison Square Garden Sports. On August 17, 2016, MSG acquired a 12% stake in digital media, broadcasting, and events company Townsquare Media from GE Capital. In January 2017 MSG paid $ 181 million for
SECTION 10
#1732845558225564-465: A tending subsidiary of the purchasing company, which, in turn, becomes the parent company of the subsidiary. (A holding below 50% could be sufficient to give a parent company material influence if they are the largest individual shareholder or if they are placed in control of the running of the operation by non-operational shareholders.) In the United Kingdom, the term holding company is defined by
611-458: Is defined by Part 1.2, Division 6, Section 46 of the Corporations Act 2001 (Cth) , which states: A body corporate (in this section called the first body) is a subsidiary of another body corporate if, and only if: Toronto-based lawyer Michael Finley has stated, "The emerging trend that has seen international plaintiffs permitted to proceed with claims against Canadian parent companies for
658-453: Is sometimes done on a per- market basis. For example, in Atlanta both WNNX and later WWWQ are licensed to "WNNX LiCo, Inc." (LiCo meaning "license company"), both owned by Susquehanna Radio (which was later sold to Cumulus Media ). In determining caps to prevent excessive concentration of media ownership , all of these are attributed to the parent company, as are leased stations , as
705-535: Is then known as a " wholly owned subsidiary ". Holiday on Ice Holiday on Ice originated in the United States in December 1942. It was the brainchild of Emery Gilbert of Toledo, Ohio, an engineer and builder who created a portable ice rink . He took his idea of a traveling show to Morris Chalfen , a Minneapolis executive, who supplied the financing, and George Tyson, who used his theatrical background to create
752-428: Is to own stock of other companies to form a corporate group . In some jurisdictions around the world, holding companies are called parent companies , which, besides holding stock in other companies, can conduct trade and other business activities themselves. Holding companies reduce risk for the shareholders , and can permit the ownership and control of a number of different companies. The New York Times uses
799-473: The Companies Act 2006 at section 1159. It defines a holding company as a company that holds a majority of the voting rights in another company, or is a member of another company and has the right to appoint or remove a majority of its board of directors, or is a member of another company and controls alone, pursuant to an agreement with other members, a majority of the voting rights in that company. After
846-541: The Hartford Wolf Pack . The original company was established in 2010 when Cablevision spun off the New York Knicks , New York Rangers , Madison Square Garden , MSG Network and other entertainment assets as an independent, publicly traded company. In 2015, the original company spun off the sports and entertainment division into a separate company and the original company was renamed to MSG Networks, Inc. ;
893-613: The financial crisis of 2007–2008 , many U.S. investment banks converted to holding companies. According to the Federal Financial Institutions Examination Council 's website, JPMorgan Chase , Bank of America , Citigroup , Wells Fargo , and Goldman Sachs were the five largest bank holding companies in the finance sector, as of December 2013 , based on total assets. The Public Utility Holding Company Act of 1935 caused many energy companies to divest their subsidiary businesses. Between 1938 and 1958
940-604: The Garden opened, the corporation's name was changed to the Madison Square Garden Corporation. Following the success of the National Hockey League 's New York Americans , the Madison Square Garden Corporation established the New York Rangers, which began play in 1926. In 1946, at the behest of Ned Irish , the Madison Square Garden Corporation became a charter member of the National Basketball Association with
987-481: The German Medusa Music Group GmbH, a subsidiary of CTS EVENTIM, Europe's largest ticket distributor, acquired 50% of Stage Entertainment Touring Productions and Holiday on Ice; the company would acquire the remaining 50% two years later, on July 8, 2016. Hence, Holiday on Ice has become a German company with Stage Entertainment no longer involved in it. During the 1960s Holiday on Ice was introduced to
SECTION 20
#17328455582251034-467: The MSG properties, including the sports franchises, into the Madison Square Garden Company. On September 30, 2015, MSG spun off its regional sports networks; the split was structured so that the original Madison Square Garden Company was renamed to MSG Networks, Inc., and spun off its sports and entertainment properties as a new Madison Square Garden Company. In September 2018, Madison Square Garden began work on
1081-467: The Madison Square Garden Company got an unfair advantage over rival AEG, which already owns part of the Lakers. In the summer of 2019 it was reported that the company had spent large amounts of money trying to influence Inglewood's mayoral election in the hopes of preventing the construction of the competing arena. In addition, the company also financially supported community groups and lawsuits seeking to prevent
1128-1076: The Madison Square Garden Corporation to reflect its largest asset. Gulf and Western Industries , which began purchasing Madison Square Garden stock in 1969 and by 1977 owned 81%, purchased complete control of the corporation and turned it into a wholly owned subsidiary on August 19, 1977. At the time of Gulf and Western's acquisition, the Madison Square Garden Corporation owned the arena, Knicks, Rangers, three horse tracks ( Roosevelt Raceway , Arlington Park , and Washington Park Race Track ), Holiday on Ice , and real estate holdings in Long Island , Manhattan , and Chicago . In June 1989, Gulf and Western changed its name to Paramount Communications, reflecting its ownership of Paramount Pictures and its focus on its entertainment and publishing properties. In 1994, Viacom purchased majority ownership of Paramount Communications, but quickly sold MSG to Cablevision and ITT Corporation . In 1997, ITT sold its half to Cablevision for $ 650 million. In February 2010, Cablevision spun off
1175-533: The New York Knicks. By the mid-1950s, James D. Norris and Arthur Wirtz , who already owned the Detroit Olympia and Chicago Stadium as well as interests in numerous National Hockey League teams, owned some 60% of the stock in the Madison Square Garden Corporation. Both men served on the corporation's board, as did Irish (who was executive vice president) and John Reed Kilpatrick (who became chairman of
1222-531: The North America company. By August 1971 , General Ice Shows, Inc., a subsidiary of Thomas Scallen 's Medical Investment Corporation (Medicor) and parent company of Ice Follies , had purchased Holiday on Ice (North America) from Chalfen and Madison Square Garden Company. At that time, Chalfen had purchased $ 2.2 million in Medicor convertible subordinated notes, which when converted to stock would have made Chalfen
1269-468: The Philippines. Araneta Coliseum always was the venue until Disney on Ice came to Araneta Coliseum. Holiday on Ice was established as a family-oriented show by its founders but it has retained little of the traditional ice revue format. The actual shows focus more on a theatrical/musical aspect rather than on the glamorous revue style with clouds of feathers and millions of sequins and rhinestones to attract
1316-455: The United Kingdom, is generally held that an organisation holding a 'controlling stake' in a company (a holding of over 51% of the stock) is in effect the de facto parent company of the firm, having overriding material influence over the held company's operations, even if no formal full takeover has been enacted. Once a full takeover or purchase is enacted, the held company is seen to have ceased to operate as an independent entity but to have become
1363-492: The allegedly wrongful activity of their foreign subsidiaries means that the corporate veil is no longer a silver bullet to the heart of a plaintiff's case." The parent subsidiary company relationship is defined by Part 1, Section 5, Subsection 1 of the Companies Act, which states: 5.—(1) For the purposes of this Act, a corporation shall, subject to subsection (3), be deemed to be a subsidiary of another corporation, if — In
1410-467: The board), among others. In 1957, however, U.S. Federal Judge Sylvester J. Ryan ruled that the International Boxing Club of New York (IBC), run by Norris and Wirtz, was monopolizing the promotion of boxing matches in violation of U.S. antitrust law . Ryan ordered the two men to divest their stock in the Madison Square Garden Corporation within five years and resign as officers and directors of
1457-476: The company performed almost annually at the newly opened Araneta Coliseum under impresario J. Amado Araneta's auspices. HOI returned to the Araneta Coliseum in 1962, 1963 and 1965. The HOI company that performed in Manila was assembled in Europe and recruited cast members from Japan. US was represented by Holiday on Ice at Brussels World Fair in 1958. While in 1959, the new Cultural Exchange Program allowed
Madison Square Garden Sports - Misplaced Pages Continue
1504-592: The company to travel to Russia. A Holiday on Ice show on October 31, 1963 , was the scene of a gas leak and subsequent explosion at the Indiana State Fairgrounds Coliseum that killed 74 people. All owners except Morris Chalfen sold their shares of the North America Holiday on Ice to Madison Square Garden Corporation in 1964, while Chalfen retained ownership of the international Holiday on Ice tour and remained as executive producer of
1551-545: The company. Though Norris and Wirtz appealed, the Supreme Court of the United States upheld Ryan's decision two years later. On January 30, 1959, Norris and Wirtz accordingly sold their controlling interest in the Madison Square Garden Corporation, accounting for 40% of the stock, to automaker-turned-investment firm Graham-Paige for $ 4 million. On April 7, 1960, the Madison Square Garden Corporation merged with Graham-Paige, and on March 9, 1962, Graham-Paige changed its name to
1598-512: The construction of competing venues in the New York and Los Angeles markets. Before the Madison Square Garden Company was formed, its businesses were part of Cablevision . In 2005, it was proposed that a new West Side Stadium be built for the New York Jets . The stadium would have directly competed with the then-Cablevision owned Madison Square Garden . Cablevision ran TV ads rallying against
1645-521: The construction of the new arena. The lawsuit became moot in March 2020, when Clippers owner Steve Ballmer announced that he would purchase The Forum for $ 400 million. The Forum will be repurposed as a dedicated concert venue. Holding company A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose
1692-552: The largest shareholder of Medicor. Scallen had Medicor stall registering the notes and he sold 400,000 Medicor shares to Arthur Wirtz . After lawsuits by HoI's Chalfen and Wirtz in 1976, Wirtz gained ownership of both shows. Mattel 's Irvin & Kenneth Feld Productions purchased the Ice Follies and the Holiday on Ice (USA) from Chicago-based Wirtz for $ 12 million in 1979. Ice Follies merged with Holiday on Ice in 1980 operating as
1739-399: The lawsuit was brought about by "business interests from out-of-state", suggesting that the Madison Square Garden Company were using this group to not have a competing arena nearby. James Dolan was said to be trying to avoid being deposed in the case. In December 2018, the Los Angeles Clippers countersued the Madison Square Garden Company alleging that they are trying to prevent competition from
1786-534: The main production numbers in recent years. A traditional element in each Holiday on Ice show is the precision number with its famous spinning wheel, in which the skaters link arms with each other, one by one, lengthening the two spokes which spin around a center point. For many years, the traditional kickline, the light finale with illuminated costumes and fireworks fountains, ended shows. Since 1988 each show has been given an official name to expose its unique identity resulting from its main production theme that weaves
1833-607: The new company took the name "the Madison Square Garden Company ". In 2020, the Madison Square Garden Company rebranded as Madison Square Garden Sports Corp. and subsequently spun off its entertainment division as Madison Square Garden Entertainment . On May 31, 1923, Tex Rickard incorporated the New Madison Square Garden Corporation for the purpose of building and operating the third Madison Square Garden . On January 15, 1925, shortly after
1880-571: The number of holding companies declined from 216 to 18. An energy law passed in 2005 removed the 1935 requirements, and has led to mergers and holding company formation among power marketing and power brokering companies. In US broadcasting , many major media conglomerates have purchased smaller broadcasters outright, but have not changed the broadcast licenses to reflect this, resulting in stations that are (for example) still licensed to Jacor and Citicasters , effectively making them such as subsidiary companies of their owner iHeartMedia . This
1927-409: The proposed stadium which ultimately resulted in the state of New York rejecting the proposal. The rejection of the proposal meant that Madison Square Garden would not have a nearby venue competing for concert revenue. The rejection of the venue also had a negative impact on New York's bid for the 2012 Summer Olympics , which was ultimately defeated by London. In 2018, the Madison Square Garden Company
Madison Square Garden Sports - Misplaced Pages Continue
1974-615: The show. The touring show made its first international trip to Mexico in 1947. In 1946, the company expanded with another ice show and secondary unit, "Ice Vogues", which took over the Holiday's last season's production and extended it for another year making stops in Cuba and Hawaii. Then the Vogues toured in Central and South America while Holiday remained in North America. After 1956, the Ice Vogues became
2021-406: The skaters who tour with Holiday on Ice are not famous, and the focus is on production quality rather than the skaters' competitive credentials. In 2011, Stage Entertainment announced the foundation of another subsidiary company which combines all its touring live productions, one of which is Holiday on Ice. This new division, Stage Entertainment Touring productions, is chaired by Caspar Gerwe. For
2068-540: The stock of Company B, Company A will not pay taxes on dividends paid by Company B to its stockholders, as the payment of dividends from B to A is essentially transferring cash within a single enterprise. Any other shareholders of Company B will pay the usual taxes on dividends, as they are legitimate and ordinary dividends to these shareholders. Sometimes, a company intended to be a pure holding company identifies itself as such by adding "Holding" or "Holdings" to its name. The parent company–subsidiary company relationship
2115-511: The term parent holding company . Holding companies can be subsidiaries in a tiered structure . Holding companies are also created to hold assets such as intellectual property or trade secrets , that are protected from the operating company. That creates a smaller risk when it comes to litigation . In the United States, 80% of stock, in voting and value, must be owned before tax consolidation benefits such as tax-free dividends can be claimed. That is, if Company A owns 80% or more of
2162-504: The various numbers into a unitary presentation. Beginning in 2005, Holiday on Ice has added several family-oriented touring shows to their schedule, including Peter Pan , Bugs Bunny on Ice and Ali Baba in "1001 Nights on Ice" in their new branch kids Ice shows ("KISS"). In contrast to the North American skating tours Stars on Ice and Champions on Ice , which feature primarily World and Olympic champion figure skaters , most of
2209-521: Was behind a lawsuit against the city of Inglewood in an attempt to stop the construction of a new basketball arena for the Los Angeles Clippers . The new arena would compete directly with The Forum which was owned by the Madison Square Garden Company. Another lawsuit from a local community group was filed to block the construction of the venue in June 2018. Inglewood mayor James Butts suggested that
#224775