Sphere Entertainment unit and lenders enter forbearance agreement

Sphere Entertainment (SPHR) disclosed earlier that its subsidiary MSGN Holdings and lenders entered into a forbearance agreement. The agreement extends the forbearance period until the earlier to occur of April 2 or such a later date agreed to by MSGN and the supporting lenders that hold a majority in principal amount of term loans. The lenders are also forbearing from exercising certain of their available remedies under the MSGN credit agreement with respect to or arising out of the anticipated failure to deliver the budget of MSG Networks and its subsidiaries for the following fiscal year by March 31.