New York Mets owner Steve Cohen has acquired a 5.5% stake in Sphere Entertainment, aligning him with James Dolan, owner of the New York Knicks and New York Rangers. Cohen's investment of over 1.5 million shares, valued at $52 million, solidifies his presence in the entertainment and sports sectors. This move follows Cohen's previous investments in media companies like Fox Corp, showcasing his strategic diversification in the industry. The Sphere, known for live concerts and upcoming sports events, represents a key player in Las Vegas' entertainment landscape, capturing Cohen's interest and strategic vision.