updated 5/5/2011 12:17:11 PM ET 2011-05-05T16:17:11

NEW YORK, May 5, 2011 (GLOBE NEWSWIRE) -- Madison Square Garden, Inc. (Nasdaq:MSG) today announced that it has changed its name to The Madison Square Garden Company, effective immediately. The new name more accurately reflects the full scope and depth of the company, which is a fully-integrated sports, media and entertainment company that creates and presents legendary experiences.

"We're proud to have grown from the iconic Madison Square Garden Arena into one of the country's leading sports, media and entertainment companies," said Hank Ratner, president and CEO of The Madison Square Garden Company. "Becoming The Madison Square Garden Company allows us to retain our connection to our historic past, while more effectively conveying the breadth of the organization. We look forward to continuing to deliver exceptional value to our customers, investors and employees by remaining focused on delivering an unparalleled standard of excellence across all our businesses."

The Madison Square Garden Company is comprised of three business segments: MSG Sports, MSG Media and MSG Entertainment, which are strategically aligned to work together to drive its overall business. The Company's long-term strategy focuses on pursuing opportunities that capitalize on the combination of its legendary venues, popular sports franchises, programming networks and exclusive entertainment content. In addition, The Company is currently undertaking one of the most significant initiatives in its history - the Transformation of the Madison Square Garden Arena into a state-of-the-art venue that will enhance the experience of customers, entertainers, athletes, fans, suite holders and partners.

"Our sports franchises recently competed in their respective playoffs, each with a core group of young players that positions us for long-term success. MSG Media continues to be the home of critically-acclaimed programming, with more New York Emmy Awards than any other network. We began our historic Transformation of The World's Most Famous Arena, ensuring the celebrated building continues to set the industry's standard for excellence. In addition, Madison Square Garden and Radio City Music Hall were named venues of the decade, while, this holiday season, Radio City will be home to one of the most innovative Radio City Christmas Spectacular productions in its 79-year history. These accomplishments are showcasing the unique strength and diversity of The Madison Square Garden Company, helping to drive our overall growth," added Mr. Ratner.

About The Madison Square Garden Company

The Madison Square Garden Company is a fully-integrated sports, media and entertainment business. The company is comprised of three business segments: MSG Sports, MSG Media and MSG Entertainment, which are strategically aligned to work together to drive the company's overall business, which is built on a foundation of iconic venues and compelling content that the company creates, produces, presents and/or distributes through its programming networks and other media assets. MSG Sports consists of owning and operating sports franchises, including the New York Knicks (NBA), the New York Rangers (NHL), the New York Liberty (WNBA), and the Connecticut Whale (AHL). MSG Sports also features other sports properties, including the presentation of a wide variety of live sporting events including professional boxing, college basketball, track and field and tennis. MSG Media is a leader in production and content development for multiple distribution platforms, including content originating from MSG's venues. MSG Media consists of the MSG Networks (MSG, MSG Plus, MSG HD and MSG Plus HD) regional sports networks and the Fuse Networks (Fuse and Fuse HD), a national television network dedicated to music. MSG Entertainment is one of the country's leaders in live entertainment. MSG Entertainment creates, produces and/or presents a variety of live productions, including the Radio City Christmas Spectacular featuring the Radio City Rockettes. MSG Entertainment also presents or hosts other live entertainment events such as concerts, family shows and special events in MSG's diverse collection of venues. These venues include Madison Square Garden, Radio City Music Hall, the Theater at Madison Square Garden, the Beacon Theatre, the Chicago Theatre and the Wang Theatre. More information is available at www.themadisonsquaregardencompany.com.

The Madison Square Garden Company logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7079

CONTACT: Justin Edelman 
         212-465-6442

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