Ken Griffin's Citadel boosts stake in James Dolan's Sphere weeks after Steve Cohen's investment

Investment Activity - Citadel has increased its stake in Sphere Entertainment from 1.6% to 5.3%, acquiring approximately 900,000 additional shares since April 1, bringing its total to around 1.5 million shares [7][14] - Steve Cohen's Point72 Asset Management disclosed a 5.5% stake in Sphere Entertainment earlier this month [8][12] Company Overview - Sphere Entertainment owns and operates the Sphere, a $2.3 billion concert venue in Las Vegas, which opened a year ago and has gained attention for its immersive shows and concerts [10][4] - The Dolan family retains voting control of Sphere Entertainment, holding 8.5 million shares [5][14] Financial Performance - Sphere generated $100.5 million in total revenue during its most recent quarter [11] - Sphere's shares were trading at $43.45, with a slight decrease of less than 1% on Thursday, but the stock has increased by approximately 30% since January 1 [2][17] Recent Developments - Negotiations for a residency agreement between Sphere and Beyoncé reportedly broke down due to her demand for a two-week rehearsal period [9][15] - The venue has hosted notable performances, including 40 shows by U2, and has upcoming bookings with Dead & Company and the Eagles [16]