Madison Square Garden Company
 | |
| Public | |
| Traded as | NASDAQ: MSG |
| Industry | Sports and entertainment |
| Founded | 2010; 2015 (spin-off Madison Square Network)[1] |
| Founder | James L. Dolan |
| Headquarters | New York City, New York, U.S. |
Key people |
James L. Dolan (Executive Chairman) Gregg Seibert (Vice Chairman) David O'Connor (President and CEO) |
| Revenue |
 $1.120 billion (2016) |
|
$316.79 million (2016) | |
| Total assets |
$9.384 billion (2008) |
| Owner | Dolan family[2] |
| Subsidiaries | |
| Website | Official website |
The Madison Square Garden Company is an American sports and entertainment holding company based in New York City. The company was established in 2010 when Cablevision spun off the New York Knicks, New York Rangers, Madison Square Garden, MSG Network and other entertainment assets as an independent, publicly traded company.
Divisions
In addition to owning the Madison Square Garden arena in Manhattan, New York City, The Madison Square Garden Company is divided into two entities.
- MSG Sports is the division that manages the company's professional sports teams. These include the NBA New York Knicks and WNBA New York Liberty, and the NBA G League Westchester Knicks basketball teams, and the NHL New York Rangers and AHL Hartford Wolf Pack ice hockey teams.
- MSG Entertainment is the operating arm of the company. It controls live events at Madison Square Garden, both in the arena and in The Theater at Madison Square Garden. In addition to the Garden itself, MSG Entertainment owns the rights to operate two theaters in Manhattan: Radio City Music Hall and the Beacon Theatre. Outside New York City, MSG Entertainment controls the operations of the Chicago Theatre (acquired in 2008), co-booking at the Wang Theatre in Boston (since 2008), and ownership in The Forum in Inglewood, California (acquired in 2012), with the intent of transforming The Forum into a venue to compete with the Staples Center.[3] MSG Entertainment also produces the Radio City Christmas Spectacular (starring the Rockettes), both at Radio City Music Hall and in venues around the United States.
Madison Square Garden, L.P. used to operate the Hartford Civic Center (now the XL Center), an indoor arena in Hartford, Connecticut, and Rentschler Field (now the name of the playing surface at Pratt & Whitney Stadium), a stadium in East Hartford, under contract with the state of Connecticut until the 2007 season when it was replaced by Northland/Anschutz Entertainment Group.[4][5]
History and corporate ownership
From its inception in 1927, the Graham-Paige Motors Corporation was a big player in the automobile business but, by 1945, the impact of the Depression and World War II left the company all but out of the car business. In 1947, the Graham Paige decided to sell all of its automotive assets, change the corporate name to Graham Paige Corporation and to start investing in real estate. In 1959, one of those investments was to buy a 40% interest in the Madison Square Garden III. By 1962, Graham Paige had a controlling interest in the Madison Square Garden Corporation and decided to merge the assets of the two corporations into a new Madison Square Garden Corporation which then began planning to replace the aging arena. In 1977, Gulf and Western Industries bought the company. Gulf and Western shed its non-media and entertainment assets, became Paramount Communications (owner of Paramount Pictures) in 1989. In 1994, Viacom purchased majority ownership of Paramount Communications, but quickly sold MSG to Cablevision.
In February 2010, Cablevision spun off the MSG properties, including the sports franchises, into The Madison Square Garden Company.[6] On September 30, 2015, the MSG Networks division, which operates the company's media assets (including MSG Network) was spun off into a separate company, leaving MSG with its live entertainment and sports assets.[7][8]
On August 17, 2016, MSG acquired a 12% stake in digital media, broadcasting, and events company Townsquare Media from GE Capital.[9]
On July 31, 2017, MSG acquired a controlling stake in professional video gaming team Counter Logic Gaming.[10]
Officers
- James L. Dolan - Executive Chairman
- Gregg Seibert - Vice Chairman
- David O'Connor - President and CEO
- Donna Coleman - Chief Financial Officer
- Steve Mills - President, Basketball Operations - New York Knicks
- Glen Sather - President, Hockey Operations - New York Rangers
- Barry Watkins- EVP- Communications and Administration
References
- ↑ http://www.themadisonsquaregardencompany.com/news/2015/msg-company-new-public-sports-entertainment.html
- ↑ http://deadline.com/2015/10/madison-square-garden-msg-networks-split-drives-deal-speculation-1201563549/
- ↑ Vincent, Roger (June 26, 2012). "Forum owners plan to revive venue with $50-million renovation: They intend to challenge Staples Center and other big arenas in the L.A. region by turning the faded Inglewood facility into a 'world-class' concert hall.". Los Angeles Times. Retrieved 2012-06-26.
- ↑ "The Connecticut Development Authority Selects Facilities Manager for Hartford Civic Center" http://www.ctcda.com/cdaNews/newsView.asp?NewsID=57
- ↑ Welcome to Rentschler Field
- ↑ Riddell, Kelly (2010-02-10). "Cablevision Spins Off MSG to Focus on Cable Franchise". Bloomberg. Retrieved 18 January 2013.
- ↑ "Madison Square Garden Splits Off Sports and Entertainment Divisions, Wall Street Yawns". Billboard. Retrieved 18 August 2016.
- ↑ "Madison Square Garden Details Split". Wall Street Journal. Retrieved 18 August 2016.
- ↑ Cimilluca, Dana (2016-08-17). "Madison Square Garden Takes 12% Stake in Townsquare Media". Wall Street Journal. ISSN 0099-9660. Retrieved 2016-08-17.
- ↑ "The Madison Square Garden Company x CLG - CLGaming.net". clgaming.net. Retrieved 2017-08-09.