No, I don't think Madison Square Garden Company should have to split its entertainment and sports businesses because the person who built it is the one who brings in al the people therefore he is doing all the work so why should he have to split the hard work that he is doing.
Madison Square Garden Company should split its entertainment and sports businesses due to both industries being completely separate entities. Sports and entertainment could fall under major different areas. Sports, of course, would be anything sports related, while entertainment could be film festivals, concerts, movies, anything else that falls under the realm of entertainment aside from sports.
When you run a business, it's always good to have different options in your head just in case things don't work as planned. The Madison Square Garden Company has been an extremely successful company even since the day I was born. They have had good money coming in because of their entertainment and sports businesses which is why they should split them apart, they are already successful!
Madison Square Garden Company should keep its entertainment and sports businesses together, as they are very closely related. Sporting events are essentially entertainment events, with similar needs in terms of programming, production, and staffing. Also, scheduling is an issue. Since the company's sports events and many of its entertainment events are in the same building, splitting the two businesses could complicate scheduling.