NUVOtv Parent Company SiTV Media Completes Acquisition of Fuse Network From the Madison Square Garden Company

NUVOtv Parent Company SiTV Media Completes Acquisition of Fuse Network From
the Madison Square Garden Company

NEW YORK, July 1, 2014 (GLOBE NEWSWIRE) -- NUVOtv parent company, SíTV Media,
Inc., has today completed its acquisition of the Fuse network from The Madison
Square Garden Company (Nasdaq:MSG). Fuse is a cable network reaching 73
million homes that targets a young, millennial audience with music and
music-themed programming. The announcement was made today by Michael
Schwimmer, CEO of SiTV Media and its NUVOtv network.

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"We are pleased with the overwhelmingly positive response by the financial
community and other stakeholders to this transaction. It is confirmation of
the value we recognized in Fuse and our growth plans," said Mr. Schwimmer.

Under the terms of the transaction, SíTV Media, Inc. agreed to purchase Fuse
for $226 million.In addition, MSG received 15 percent equity of the combined
company, which is subject to potential reduction based on certain performance
goals.

About NUVOtv

NUVOtv (www.myNUVOtv.com) is the premier English-language destination for
Latino entertainment, embodying the vibrancy and richness of modern Latino
culture. Providing original entertainment and lifestyle programming, NUVOtv is
available in more than 32 million homes nationwide with major distribution
partners: AT&T U-verse, Comcast, Cox, Dish Network, Time Warner Cable and
Verizon FIOS. The principal financial shareholders in NUVOtv are Columbia
Capital and Rho Capital Partners. The network is widely available in all top
Hispanic DMAs and most major U.S. markets including Los Angeles, San
Francisco, Miami, Chicago and New York.Iconic superstar and powerhouse
entrepreneur, Jennifer Lopez serves as NUVOtv's Chief Creative Officer
collaborating closely with the network on programming strategy, production and
marketing.

The NUVOtv logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=24597

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 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 Radio City
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.

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


CONTACT: Diane Castro, NUVOtv
         (323) 317-9521
         dcastro@mynuvotv.com
        
         Kimberly Kerns, The Madison Square Garden Company
         212-465-6442
         Kimberly.Kerns@msg.com

The Madison Square Garden Company logo
 
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