Dead & Company, Outside Lands bring weeks of closures to Golden Gate Park
From late July through August, Another Planet Entertainment will host a series of large-scale concerts, including a three-night run by Dead & Company from Aug. 1-3 marking the 60th anniversary of the Grateful Dead, its annual Outside Lands festival from Aug. 8-10 and a one-night performance by Zach Bryan and Kings of Leon on Aug. 15.
The Polo Field, the primary concert venue for the summer events, will be off-limits from July 23 to Aug. 20. Lindley Meadow, Hellman Hollow, Marx Meadow and several other open spaces will close on staggered dates through mid-August.
Middle Drive, a key east-west artery, will be closed to vehicles for the full stretch of the concert series.
Portions of John F. Kennedy Drive will also be shut down — not just to cars, but also to pedestrians and cyclists — from July 29 to Aug. 18.
The closures coincide with a flurry of performances, including Sturgill Simpson (performing as Johnny Blue Skies) for the Dead celebration, and festival performers Beck, Doja Cat, Hozier and Tyler, the Creator.
Additional detours will impact bicycles and cars, with Martin Luther King Jr. Drive limited to one-way traffic on non-show days and fully closed during concerts.
Organizers say the extended timeline allows for the reuse of infrastructure between events. Permit fees — including an estimated $750,000 from the Aug. 15 show alone — will help fund park maintenance and public programming.
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(MSG Entertainment) is a leader in live entertainment, delivering unforgettable experiences while forging deep connections with diverse and passionate audiences. The Company's portfolio includes a collection of world-renowned venues – New York's Madison Square Garden, The Theater at Madison Square Garden, Radio City Music Hall, and Beacon Theatre; and The Chicago Theatre – that showcase a broad array of sporting events, concerts, family shows, and special events for millions of guests annually. In addition, the Company features the original production, the Christmas Spectacular Starring the Radio City Rockettes, which has been a holiday tradition for more than 90 years. More information is available at Non-GAAP Financial Measures We define adjusted operating income (loss), which is a non-GAAP financial measure, as operating income (loss) excluding (i) depreciation, amortization and impairments of property and equipment, goodwill and other long-lived assets, including right of use assets and related lease costs, (ii) share-based compensation expense or benefit, (iii) restructuring charges or credits, (iv) merger, spin-off, and acquisition-related costs, including merger-related litigation expenses, (v) gains or losses on sales or dispositions of businesses and associated settlements, (vi) the impact of purchase accounting adjustments related to business acquisitions, (vii) amortization for capitalized cloud computing arrangement costs and (viii) gains and losses related to the remeasurement of liabilities under the executive deferred compensation plan. We exclude impairments of long-lived assets, including right-of-use assets and related lease costs, as these expenses do not represent core business operating results of the Company. We believe that the exclusion of share-based compensation expense or benefit allows investors to better track the performance of our business without regard to the settlement of an obligation that is not expected to be made in cash. We eliminate merger, spin-off, and acquisition-related transaction costs, when applicable, because the Company does not consider such costs to be indicative of the ongoing operating performance of the Company as they result from an event that is of a non-recurring nature, thereby enhancing comparability. In addition, management believes that the exclusion of gains and losses related to the remeasurement of liabilities under the executive deferred compensation plan, provides investors with a clearer picture of the Company's operating performance given that, in accordance with U.S. generally accepted accounting principles, gains and losses related to the remeasurement of liabilities under the executive deferred compensation plan are recognized in Operating (income) loss whereas gains and losses related to the remeasurement of the assets under the executive deferred compensation plan, which are equal to and therefore fully offset the gains and losses related to the remeasurement of liabilities, are recognized in Other income (expense), net, which is not reflected in Operating income (loss). We believe adjusted operating income (loss) is an appropriate measure for evaluating the operating performance of the Company on a consolidated basis. Adjusted operating income (loss) and similar measures with similar titles are common performance measures used by investors and analysts to analyze our performance. Internally, we use revenues and adjusted operating income (loss) as the most important indicators of our business performance, and evaluate management's effectiveness with specific reference to these indicators. Adjusted operating income (loss) should be viewed as a supplement to and not a substitute for operating income (loss), net income (loss), cash flows from operating activities, and other measures of performance and/or liquidity presented in accordance with GAAP. Since adjusted operating income (loss) is not a measure of performance calculated in accordance with GAAP, this measure may not be comparable to similar measures with similar titles used by other companies. For a reconciliation of operating income (loss) to adjusted operating income (loss), please see page 5 of this release. Forward-Looking Statements This press release may contain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that any such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, and that actual results, developments or events may differ materially from those in the forward-looking statements as a result of various factors, including financial community perceptions of the Company and its business, operations, financial condition and the industries in which it operates and the factors described in the Company's filings with the Securities and Exchange Commission, including the sections titled 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations' contained therein. The Company disclaims any obligation to update any forward-looking statements contained herein. Conference Call Information: ADJUSTMENTS TO RECONCILE OPERATING INCOME (LOSS) TO ADJUSTED OPERATING INCOME (LOSS) (in thousands) (Unaudited) The following is a description of the adjustments to operating (loss) income in arriving at adjusted operating (loss) income as described in this earnings release: Depreciation and amortization. This adjustment eliminates depreciation and amortization of property and equipment and intangible assets. Impairment of long-lived assets. This adjustment eliminates the impairment of long-lived assets, including right of use assets and related lease costs. Share-based compensation. This adjustment eliminates the compensation expense relating to restricted stock units, performance stock units and stock options granted to employees and non-employee directors. Restructuring charges. This adjustment eliminates costs related to termination benefits provided to certain corporate executives and employees. Merger, spin-off, and acquisition-related costs. This adjustment eliminates costs related to mergers, spin-offs and acquisitions, including merger-related litigation expenses. Amortization for capitalized cloud computing arrangement costs. This adjustment eliminates amortization of capitalized cloud computing arrangement costs. Remeasurement of deferred compensation plan liabilities. This adjustment eliminates the impact of gains and losses related to the remeasurement of liabilities under the executive deferred compensation plan. CONSOLIDATED BALANCE SHEETS (unaudited) (in thousands) June 30, 2025 2024 ASSETS Current Assets: Cash, cash equivalents and restricted cash $ 43,538 $ 33,555 Accounts receivable, net 66,781 77,259 Related party receivables, current 22,487 17,469 Prepaid expenses and other current assets 104,326 90,801 Total current assets 237,132 219,084 Non-Current Assets: Property and equipment, net 621,075 633,533 Right-of-use lease assets 484,544 388,658 Goodwill 69,041 69,041 Indefinite-lived intangible assets 63,801 63,801 Deferred tax assets, net 54,072 68,307 Other non-current assets 140,177 110,283 Total assets $ 1,669,842 $ 1,552,707 LIABILITIES AND DEFICIT Current Liabilities: Accounts payable, accrued and other current liabilities $ 184,360 $ 203,750 Related party payables, current 23,830 42,506 Long-term debt, current 30,469 16,250 Operating lease liabilities, current 35,100 27,736 Deferred revenue 228,642 215,581 Total current liabilities 502,401 505,823 Non-Current Liabilities: Long-term debt, net of deferred financing costs 568,780 599,248 Operating lease liabilities, non-current 566,484 427,014 Other non-current liabilities 45,477 43,787 Total liabilities 1,683,142 1,575,872 Commitments and contingencies Deficit: Class A Common Stock (a) 461 456 Class B Common Stock (b) 69 69 Additional paid-in capital 44,843 33,481 Treasury stock at cost (5,483 and 4,365 shares as of June 30, 2025 and June 30, 2024, respectively) (180,204 ) (140,512 ) Retained earnings 153,034 115,603 Accumulated other comprehensive loss (31,503 ) (32,262 ) Total deficit (13,300 ) (23,165 ) Total liabilities and deficit $ 1,669,842 $ 1,552,707 Expand ______________________ (a) Class A Common Stock, $0.01 par value per share, 120,000 shares authorized; 46,076 and 45,556 shares issued as of June 30, 2025 and June 30, 2024, respectively. (b) Class B Common Stock, $0.01 par value per share, 30,000 shares authorized; 6,867 shares issued as of June 30, 2025 and June 30, 2024. Expand SELECTED CASH FLOW INFORMATION (in thousands) (Unaudited) Twelve Months Ended June 30, 2025 2024 Net cash provided by operating activities $ 115,297 $ 111,266 Net cash used in investing activities (23,693 ) (62,371 ) Net cash used in financing activities (81,621 ) (99,695 ) Net increase (decrease) in cash, cash equivalents and restricted cash 9,983 (50,800 ) Cash, cash equivalents and restricted cash, beginning of period 33,555 84,355 Cash, cash equivalents and restricted cash, end of period $ 43,538 $ 33,555 Expand
