The Madison Square Garden Company Sells Interest in Live Nation Entertainment, Inc.

The Madison Square Garden Company Sells Interest in Live Nation Entertainment,
Inc.

NEW YORK, March 12, 2013 (GLOBE NEWSWIRE) -- The Madison Square Garden Company
(Nasdaq:MSG) today announced that it has sold all of its approximately 3.9
million shares in Live Nation Entertainment, Inc. for total net proceeds of
approximately $44 million.The company had no further comment on the
transaction.

The Madison Square Garden Company logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=15647

CONTACT: Kimberly Kerns
         Senior Vice President, Communications
         The Madison Square Garden Company
         (212) 465-6442
        
         Ari Danes, CFA
         Vice President, Investor Relations
         The Madison Square Garden Company
         (212) 465-6072

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