Type Public Revenue $ 1.062 billion (2009) Founder James L. Dolan | Traded as NASDAQ: MSG Operating income Founded 2010 | |
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Industry Sports and entertainment Key people James L. Dolan
(Executive Chairman)
Gregg Seibert
(Vice Chairman)
David O'Connor
(President and CEO) Stock price MSG (NYSE) US$ 198.51 -0.97 (-0.49%)17 Mar, 11:32 AM GMT-4 - Disclaimer Headquarters New York City, New York, United States CEO James L. Dolan (17 Mar 2015–) Subsidiaries MSG Entertainment, Madison Square Garden Investments, LLC, Boston Calling Events, LLC, TAO Group LLC Profiles | ||
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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.
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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.
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, 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.
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. 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.
On August 17, 2016, MSG acquired a 12% stake in digital media, broadcasting, and events company Townsquare Media from GE Capital.