Exhibit 99.1

THE MADISON SQUARE GARDEN COMPANY REPORTS

FOURTH QUARTER AND FISCAL 2014 RESULTS

NEW YORK, N.Y., August 20, 2014 – The Madison Square Garden Company (NASDAQ: MSG) today reported financial results for the fourth quarter and fiscal year ended June 30, 2014.

Fiscal 2014 revenues of approximately $1.56 billion grew 16%, as compared to the prior year, with increases in all three of the Company’s business segments. Adjusted operating cash flow (“AOCF”)⁽¹⁾ of $312.8 million decreased 12%, as compared to the prior year, primarily due to lower AOCF results in the MSG Sports segment and an increase in unallocated corporate expenses (“Other”). Operating income of $184.1 million decreased 27% and net income of $115.1 million ($1.47 per diluted share) decreased 19%, both as compared to the prior year. Excluding the impact of the exercise of an NHL compliance buyout in the fourth quarter, as well as increased expenses related to executive management transition costs and the postponement of the Company’s new large-scale theatrical production in the third quarter, fiscal 2014 total company AOCF would have been $363.7 million and operating income would have been $239.5 million.

Fiscal 2014 fourth quarter revenues of $371.7 million grew 10%, as compared to the prior year fourth quarter, primarily due to an increase in revenues in the MSG Entertainment and MSG Sports segments. AOCF of $55.0 million decreased 40%, as compared to the prior year fourth quarter, due to lower AOCF results in the MSG Sports segment along with an increase in unallocated corporate expenses, partially offset by improved AOCF results at the MSG Media and MSG Entertainment segments. Operating income of $20.3 million decreased 69% and net income of $11.6 million ($0.15 per diluted share) decreased 68%, both as compared to the prior year fourth quarter. Excluding the impact of the exercise of the NHL compliance buyout, AOCF would have been $84.6 million and operating income would have been $49.8 million.

President and CEO Tad Smith said: “Over the course of fiscal 2014, we strengthened our Company’s foundation in many ways, which should benefit MSG for years to come. This includes the successful completion of the Transformation project and the reinvention of the Forum. The Company also reached an agreement to sell Fuse and successfully concluded the transaction in July. We remain focused on creating meaningful value for our shareholders and, looking ahead, believe that our Company has ample opportunities to drive growth.”

Results from Operations

Segment results for the quarters ended June 30, 2014 and 2013 are as follows:

	Revenues									AOCF									Operating Income (Loss)
$ millions	F’Q4 2014			F’Q4 2013			% Change			F’Q4 2014			F’Q4 2013			% Change			F’Q4 2014			F’Q4 2013			% Change
MSG Media	$	176.4		$	176.8			(0	)%	$	84.3		$	81.8			3	%	$	78.7		$	77.6			1	%
MSG Entertainment		56.5			34.8			62	%		(11.4	)		(14.6	)		22	%		(15.3	)		(17.8	)		14	%
MSG Sports		156.8			140.7			11	%		(10.3	)		28.4			—			(16.0	)		25.8			—
Other (includes eliminations)		(18.0	)		(15.9	)		(13	)%		(7.6	)		(3.4	)		(126	)%		(27.1	)		(19.4	)		(40	)%
Total Company	$	371.7		$	336.4			10	%	$	55.0		$	92.2			(40	)%	$	20.3		$	66.1			(69	)%

Note: Does not foot due to rounding

⁽¹⁾  See definition of adjusted operating cash flow (“AOCF”) included in the discussion of non-GAAP financial measures on page 3 of this earnings release.

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MSG Media

For the fiscal 2014 fourth quarter as compared to the prior year period, MSG Media revenues of $176.4 million decreased slightly. Affiliation fee revenue increased $6.4 million, primarily due to higher affiliation rates, partially offset by the impact of a small decrease in subscribers at MSG Networks. Advertising revenue decreased $5.8 million, primarily due to lower New York Knicks-related advertising revenue, mainly a result of the absence of playoff telecasts versus the prior year quarter, as well as lower advertising revenue at Fuse. Other revenues decreased $1.0 million, primarily due to the expiration in April 2013 of a short-term programming licensing agreement. Fourth quarter AOCF of $84.3 million increased 3% and operating income of $78.7 million increased 1%, both primarily due to a decrease in direct operating expenses, partially offset by an increase in selling, general and administrative expenses and, to a lesser extent, the slight decrease in revenues. The decrease in direct operating expenses was due to lower programming expenses at Fuse.

MSG Entertainment

For the fiscal 2014 fourth quarter as compared to the prior year period, MSG Entertainment revenues of $56.5 million increased 62%. The increase was primarily due to higher event-related revenues at all of the Company’s venues, led by The Theater at Madison Square Garden, the Madison Square Garden Arena, the Forum and The Chicago Theatre, as well as higher venue-related sponsorship and signage and suite rental fee revenues. Fourth quarter AOCF loss of $11.4 million improved by $3.2 million and operating loss of $15.3 million improved by $2.5 million, both due to the increase in revenues, mostly offset by an increase in direct operating expenses and, to a lesser extent, an increase in selling, general and administrative expenses. The increase in direct operating expenses was primarily due to higher event-related operating expenses.

MSG Sports

For the fiscal 2014 fourth quarter as compared to the prior year period, MSG Sports revenues of $156.8 million increased 11%. The increase in revenues was primarily due to higher playoff-related revenues, inter-segment media rights revenue, professional sports team regular season ticket-related revenue, suite rental fee revenue, revenues from other live sporting events and professional sports team sponsorship and signage revenues. AOCF decreased by $38.7 million to a loss of $10.3 million and operating income decreased by $41.8 million to a loss of $16.0 million, both primarily due to an increase in direct operating expenses and, to a lesser extent, higher selling, general and administrative expenses, partially offset by the increase in revenues. The increase in direct operating expenses was primarily due to a $37.3 million increase in net provisions for certain team personnel transactions and, to a lesser extent, higher net provisions for NBA luxury tax and NBA and NHL revenue sharing expense, other team operating expenses and team personnel compensation expense. Excluding the impact of the exercise of the NHL compliance buyout, MSG Sports AOCF would have been $19.2 million and operating income would have been $13.5 million.

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 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.

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Non-GAAP Financial Measures

We define adjusted operating cash flow (“AOCF”), which is a non-GAAP financial measure, as operating income (loss) before 1) depreciation, amortization and impairments of property and equipment and intangible assets, 2) share-based compensation expense or benefit, and 3) restructuring charges or credits. Because it is based upon operating income (loss), AOCF also excludes interest expense (including cash interest expense) and other non-operating income and expense items. We believe that the exclusion of share-based compensation expense or benefit allows investors to better track the performance of the various operating units of our business without regard to either the distortive effects of fluctuating stock prices or the settlement of an obligation that is not expected to be made in cash.

We believe AOCF is an appropriate measure for evaluating the operating performance of our business segments and the Company on a consolidated basis. AOCF and similar measures with similar titles are common performance measures used by investors and analysts to analyze our performance. Internally, we use revenues and AOCF measures as the most important indicators of our business performance, and evaluate management’s effectiveness with specific reference to these indicators. AOCF should be viewed as a supplement to and not a substitute for operating income (loss), net income (loss), cash flows from operating activities, and other measures of performance and/or liquidity presented in accordance with U.S. generally accepted accounting principles (“GAAP”). Since AOCF is not a measure of performance calculated in accordance with GAAP, this measure may not be comparable to similar measures with similar titles used by other companies. For a reconciliation of AOCF to operating income (loss), please see page 4 of this release.

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 or developments 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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Contacts:

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

Conference Call Information:

The conference call will be Webcast live today at 10:00 a.m. ET at www.themadisonsquaregardencompany.com

Conference call dial-in number is 877-347-9170 / Conference ID Number 72305196

Conference call replay number is 855-859-2056 / Conference ID Number 72305196 until August 27, 2014

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THE MADISON SQUARE GARDEN COMPANY

CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share data)

(Unaudited)

	Three Months Ended June 30,						Twelve Months Ended June 30,
	2014			2013			2014			2013
Revenues	$	371,674		$	336,360		$	1,555,594		$	1,340,818
Operating expenses:
Direct operating		(217,337	)		(164,669	)		(899,383	)		(691,029	)
Selling, general and administrative		(104,002	)		(80,908	)		(365,148	)		(309,568	)
Depreciation and amortization		(30,081	)		(24,693	)		(106,950	)		(89,132	)
Operating income		20,254			66,090			184,113			251,089
Other income (expense):
Equity in earnings (loss) of nonconsolidated affiliates		(1,248	)		—			(1,323	)		—
Interest expense, net		(1,262	)		(2,115	)		(4,898	)		(5,722	)
Miscellaneous		(1,441	)		22			(1,346	)		3,497
Income from operations before income taxes		16,303			63,997			176,546			248,864
Income tax expense		(4,666	)		(27,580	)		(61,478	)		(106,482	)
Net income	$	11,637		$	36,417		$	115,068		$	142,382
Basic earnings per common share	$	0.15		$	0.47		$	1.49		$	1.87
Diluted earnings per common share	$	0.15		$	0.47		$	1.47		$	1.83
Basic weighted-average number of common shares outstanding		77,361			77,009			77,142			76,268
Diluted weighted-average number of common shares outstanding		78,244			78,067			78,167			77,940

ADJUSTMENTS TO RECONCILE ADJUSTED OPERATING CASH FLOW TO OPERATING INCOME (LOSS)

The following is a description of the adjustments to operating income (loss) in arriving at adjusted operating cash flow as described in this earnings release:

• Depreciation and amortization. This adjustment eliminates depreciation, amortization and impairments of property and equipment and intangible assets in all periods.

• Share-based compensation expense. This adjustment eliminates the compensation expense relating to restricted stock, restricted stock units, stock options and stock appreciation rights granted under our employee stock plans and non-employee director plans in all periods.

	Three Months Ended June 30,				Twelve Months Ended June 30,
	2014		2013		2014		2013
Operating income	$	20,254	$	66,090	$	184,113	$	251,089
Share-based compensation		4,693		1,442		21,750		15,340
Depreciation and amortization		30,081		24,693		106,950		89,132
Adjusted operating cash flow	$	55,028	$	92,225	$	312,813	$	355,561

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THE MADISON SQUARE GARDEN COMPANY

CONSOLIDATED OPERATIONS DATA

(Dollars in thousands)

(Unaudited)

REVENUES

	Three Months Ended June 30,						% Change
	2014			2013
MSG Media	$	176,365		$	176,759			(0	)%
MSG Entertainment		56,488			34,805			62	%
MSG Sports		156,778			140,743			11	%
Other (including Inter-segment eliminations)		(17,957	)		(15,947	)		(13	)%
Total Madison Square Garden Company	$	371,674		$	336,360			10	%

	Twelve Months Ended June 30,						% Change
	2014			2013
MSG Media	$	714,514		$	677,733			5	%
MSG Entertainment		300,998			252,195			19	%
MSG Sports		612,071			470,290			30	%
Other (including Inter-segment eliminations)		(71,989	)		(59,400	)		(21	)%
Total Madison Square Garden Company	$	1,555,594		$	1,340,818			16	%

ADJUSTED OPERATING CASH FLOW AND OPERATING INCOME (LOSS)

	Adjusted Operating Cash Flow									Operating Income (Loss)
	Three Months Ended June 30,						% Change			Three Months Ended June 30,						% Change
	2014			2013						2014			2013
MSG Media	$	84,303		$	81,794			3	%	$	78,730		$	77,587			1	%
MSG Entertainment		(11,394	)		(14,604	)		22	%		(15,338	)		(17,828	)		14	%
MSG Sports		(10,296	)		28,388			—			(16,014	)		25,753			—
All other		(7,585	)		(3,353	)		(126	)%		(27,124	)		(19,422	)		(40	)%
Total Madison Square Garden Company	$	55,028		$	92,225			(40	)%	$	20,254		$	66,090			(69	)%

	Adjusted Operating Cash Flow									Operating Income (Loss)
	Twelve Months Ended June 30,						% Change			Twelve Months Ended June 30,						% Change
	2014			2013						2014			2013
MSG Media	$	343,497		$	349,506			(2	)%	$	323,168		$	328,569			(2	)%
MSG Entertainment		(4,284	)		(10,205	)		58	%		(19,750	)		(24,732	)		20	%
MSG Sports		3,575			27,014			(87	)%		(13,463	)		13,474			—
All other		(29,975	)		(10,754	)		(179	)%		(105,842	)		(66,222	)		(60	)%
Total Madison Square Garden Company	$	312,813		$	355,561			(12	)%	$	184,113		$	251,089			(27	)%

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THE MADISON SQUARE GARDEN COMPANY

CONSOLIDATED BALANCE SHEETS

(In thousands, except per share data)

(Unaudited)

	June 30, 2014			June 30, 2013
ASSETS
Current Assets:
Cash and cash equivalents	$	92,251		$	277,913
Restricted cash		9,823			8,413
Accounts receivable, net		135,369			145,728
Net related party receivables		25,156			18,565
Prepaid expenses		37,108			41,215
Other current assets		23,216			20,339
Assets held for sale		77,056			—
Total current assets		399,979			512,173
Investments in and loans to nonconsolidated affiliates		225,632			—
Property and equipment, net		1,252,467			1,135,180
Amortizable intangible assets, net		80,306			90,705
Indefinite-lived intangible assets		163,850			158,636
Goodwill		701,674			742,492
Other assets		102,053			93,028
Total assets	$	2,925,961		$	2,732,214
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	16,710		$	16,006
Net related party payables		283			283
Accrued liabilities:
Employee related costs		102,097			70,663
Other accrued liabilities		173,003			221,405
Deferred revenue		300,937			237,537
Liabilities held for sale		11,171			—
Total current liabilities		604,201			545,894
Defined benefit and other postretirement obligations		75,728			59,726
Other employee related costs		61,284			45,370
Other liabilities		59,970			58,536
Deferred tax liability		520,334			543,753
Total liabilities		1,321,517			1,253,279
Commitments and contingencies
Stockholders’ Equity:
Class A Common stock, par value $0.01, 360,000 shares authorized; 63,606 and 63,268 shares outstanding as of June 30, 2014 and 2013, respectively.		639			639
Class B Common stock, par value $0.01, 90,000 shares authorized; 13,589 shares outstanding as of June 30, 2014 and 2013		136			136
Preferred stock, par value $0.01, 45,000 shares authorized; none outstanding		—			—
Additional paid-in capital		1,081,055			1,070,764
Treasury stock, at cost, 317 and 596 shares as of June 30, 2014 and 2013, respectively		(7,537	)		(14,179	)
Retained earnings		552,862			437,794
Accumulated other comprehensive loss		(22,711	)		(16,219	)
Total stockholders’ equity		1,604,444			1,478,935
Total liabilities and stockholders’ equity	$	2,925,961		$	2,732,214

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THE MADISON SQUARE GARDEN COMPANY

SELECTED CASH FLOW INFORMATION

(Dollars in thousands)

(Unaudited)

	Twelve Months Ended June 30,
	2014			2013
Net cash provided by operating activities	$	342,555		$	263,055
Net cash used in investing activities		(516,398	)		(185,361	)
Net cash used in financing activities		(11,819	)		(6,281	)
Net increase (decrease) in cash and cash equivalents		(185,662	)		71,413
Cash and cash equivalents at beginning of period		277,913			206,500
Cash and cash equivalents at end of period	$	92,251		$	277,913

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