Madison Square Garden Sports shares are trading higher after the company announced it approved a plan to explore a possible spin-off that would separate its New York Knicks business from its New York Rangers business.

Madison Square Garden Co. Class A -1.45%

Madison Square Garden Co. Class A

MSGS

334.80

-1.45%

Madison Square Garden Sports shares are trading higher after the company announced it approved a plan to explore a possible spin-off that would separate its New York Knicks business from its New York Rangers business.