Madison Square Garden Entertainment Corp. shares fall 1.04% after-hours as Sphere Entertainment Co. repurchases $27.5 million in shares.

Madison Square Garden Entertainment Corp. fell 1.04% in after-hours trading. The company announced that Sphere Entertainment Co. repurchased $27.5 million of its shares, reflecting confidence in the long-term growth potential of its Sphere business. The share repurchases were funded using cash on hand, and the company has approximately $322.5 million remaining under its existing share repurchase authorization.