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NEW YORK, Aug. 5, 2015 (GLOBE NEWSWIRE) -- The Madison Square Garden Company (NYSE:MSG) today announced that John Sykes, one of the industry's leading entertainment and media executives, has joined its board of directors as a new independent Class A director.
The Madison Square Garden Company is currently pursuing a spin-off of its sports and entertainment business from its media business and expects, with the anticipated completion of the transaction, that Mr. Sykes would continue to serve on the media company's board of directors.
Jim Dolan, executive chairman of The Madison Square Garden Company, said, "We are very pleased to welcome John to our board. John's significant expertise in building and managing some of the world's most powerful and enduring media brands will add considerable value as we pursue our proposed spin-off and seek to increase shareholder value across all of our businesses."
"I am honored to be joining MSG's board during this exciting time," said Mr. Sykes. "I have tremendous respect for Jim and the other board members, and look forward to working with them on the continued evolution and growth of the company."
John Sykes has more than 30 years of experience in music, television and media. He currently serves as President of Entertainment Enterprises at iHeartMedia, Inc. (formerly CC Media Holdings, Inc.), where he is responsible for managing new business partnerships and platforms across a broad range of media, including television, digital platforms and live events. In addition, Mr. Sykes creates value and content partnerships for advertisers and major partners, and guides iHeartMedia's relationships with key talent. He is the co-executive producer of iHeartRadio branded annual live events, including the iHeartRadio Music Festival, the iHeartRadio Music Awards and the iHeartRadio Jingle Ball, all of which are broadcast across the country on iHeartRadio stations, streamed live on video platforms, and aired on major television networks. One of music television's pioneers, Mr. Sykes was a co-founder of MTV, President of VH1, President of Network Development for MTV and CEO of Infinity Broadcasting (now CBS Radio).
An active philanthropist, Mr. Sykes joined Jim Dolan and Harvey Weinstein in 2001 to co-produce the historic "The Concert for New York City," which raised more than $35 million in aid for 9/11 victims and heroes. In 2012, the three entertainment executives teamed up again to co-produce "12-12-12: The Concert for Sandy Relief," which raised more than $50 million to assist the millions of people in the tri-state area impacted by Superstorm Sandy. Mr. Sykes currently serves on the boards of the Robin Hood Foundation, Shazam Mobile, The Rock and Roll Hall of Fame and Syracuse University's Newhouse School of Communications.
About The Madison Square Garden Company
The Madison Square Garden Company is comprised of three business segments: MSG Sports, MSG Media and MSG Entertainment and 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 owns and operates the following sports franchises: the New York Knicks (NBA), the New York Rangers (NHL), the New York Liberty (WNBA), the Westchester Knicks (NBADL) and the Hartford Wolf Pack (AHL). MSG Sports also features the presentation of a wide variety of live sporting events including professional boxing, college basketball, bull riding and tennis. MSG Media is a leader in production and content development for multiple distribution platforms, including content originating from the Company's venues. MSG Media's television networks consist of regional sports networks, MSG Network and MSG+, collectively referred to as MSG Networks. 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 Rockettes. MSG Entertainment also presents or hosts other live entertainment events such as concerts, family shows and special events in the Company's diverse collection of venues. These venues consist of Madison Square Garden, The Theater at Madison Square Garden, Radio City Music Hall, the Beacon Theatre, the Forum in Inglewood, CA, The Chicago Theatre, and the Wang Theatre in Boston, MA. More information is available at www.themadisonsquaregardencompany.com.
This press release may contain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that any such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, and that actual results, developments and events may differ materially from those in the forward-looking statements as a result of various factors, including financial community and rating agency perceptions of the Company and its business, operations, financial condition and the industry in which it operates and the factors described in the Company's filings with the Securities and Exchange Commission, including the sections titled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" contained therein. The Company disclaims any obligation to update any forward-looking statements contained herein.
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