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OFFON

MADISON SQUARE GARDEN SPORTS CORP.

(MSGS)
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The Azoff Company Holdings Completes Acquisition of the Madison Square Garden Company's 50 Percent Interest in Azoff MSG Entertainment

12/06/2018 | 06:16pm EDT

NEW YORK, Dec. 06, 2018 (GLOBE NEWSWIRE) -- The Azoff Company Holdings and The Madison Square Garden Company (NYSE: MSG) announced that The Azoff Company Holdings has completed its acquisition of MSG’s 50 percent interest in Azoff MSG Entertainment, now called The Azoff Company. The deal was announced last month when the two companies reached an agreement on the transaction. Irving Azoff will continue to serve as chairman and chief executive officer of The Azoff Company.

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Through multi-year consulting arrangements, The Azoff Company continues to advise and counsel MSG with respect to the Forum, the MSG Sphere initiative and other matters.

About The Azoff Company
The Azoff Company is a privately held media and entertainment company dedicated to investing in positively disruptive businesses that put artists and fans first. Based in Los Angeles, The Azoff Company is led by industry veteran, Irving Azoff, and has a portfolio that includes Fullstop Management, one of the world’s leading music management companies; Global Music Rights, a performance rights company transforming that space in favor of its songwriter clients; Oak View Group, a company focused on the sports and entertainment venue industry; and LaneOne, a premium experience company.

About The Madison Square Garden Company
The Madison Square Garden Company (MSG) is a world leader in live sports and entertainment experiences. The company presents or hosts a broad array of premier events in its diverse collection of iconic venues: New York’s Madison Square Garden, The Hulu Theater at Madison Square Garden, Radio City Music Hall and Beacon Theatre; the Forum in Inglewood, CA; The Chicago Theatre; and the Wang Theatre in Boston. Other MSG properties include legendary sports franchises: the New York Knicks (NBA), the New York Rangers (NHL) and the New York Liberty (WNBA); two development league teams – the Westchester Knicks (NBAGL) and the Hartford Wolf Pack (AHL); and esports teams through Counter Logic Gaming, a leading North American esports organization, and Knicks Gaming, MSG’s NBA 2K League franchise. In addition, the Company features the popular original production – the Christmas Spectacular Starring the Radio City Rockettes – and through Boston Calling Events, produces New England’s preeminent Boston Calling Music Festival. Also under the MSG umbrella is TAO Group, a world-class hospitality group with globally-recognized entertainment dining and nightlife brands: Tao, Marquee, Lavo, Avenue, The Stanton Social, Beauty & Essex and Vandal. More information is available at www.themadisonsquaregardencompany.com

Contacts: 
The Azoff Company
Larry Solters
solters@solters.com
(818) 761-7185
The Madison Square Garden Company
Kimberly Kerns
kimberly.kerns@msg.com
(212) 465-6442

 

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ę GlobeNewswire 2018
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Financials (USD)
Sales 2022 730 M - -
Net income 2022 20,8 M - -
Net Debt 2022 273 M - -
P/E ratio 2022 215x
Yield 2022 -
Capitalization 4 459 M 4 459 M -
EV / Sales 2022 6,48x
EV / Sales 2023 6,05x
Nbr of Employees -
Free-Float 62,0%
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James Lawrence Dolan Executive Chairman
Richard D. Parsons Independent Director
Nelson Peltz Independent Director
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