Exhibit 99.1

THE MADISON SQUARE GARDEN COMPANY REPORTS

FISCAL 2016 THIRD QUARTER RESULTS

NEW YORK, N.Y., May 6, 2016 – The Madison Square Garden Company (NYSE: MSG) today reported financial results for the third quarter ended March 31, 2016.

On September 30, 2015, The Madison Square Garden Company completed its spin-off from MSG Networks Inc. The fiscal 2016 third quarter reflects the Company’s financial results on a standalone basis, including the Company’s actual corporate general and administrative costs.

Reported results for the fiscal 2015 third quarter are presented as the combined results of the sports and entertainment businesses, which, prior to the completion of the spin-off, had been consolidated with MSG Networks Inc. Please note that results for the fiscal 2015 third quarter reflect the allocation of corporate general and administrative costs based on accounting requirements for the preparation of carve-out financial statements. As a result, fiscal 2015 third quarter results do not reflect all of the actual expenses that the Company would have incurred had it been a standalone public company for that quarter.    

On a reported basis for the fiscal 2016 third quarter, the Company generated revenues of $336.3 million, adjusted operating cash flow loss (“AOCF”)⁽¹⁾ of $23.8 million, and operating loss of $56.9 million. Excluding the impact of a $41.8 million non-cash write-off recorded during the quarter, adjusted operating cash flow would have been $18.1 million, an increase of 8%, and operating loss would have been $15.1 million, an increase of $5.5 million, both as compared to the prior year period.

President and CEO David O’Connor said, “We are pleased with our continued success in creating exceptional live experiences for our fans and partners. Looking ahead, we remain focused on delivering excellence across our operations and see ample opportunities to continue to grow our live sports and entertainment businesses, all with the goal of creating meaningful long-term asset value for our Company and shareholders.”

Results from Operations

Segment results for the quarters ended March 31, 2016 and 2015 are as follows:

Note: Does not foot due to rounding

1

MSG Entertainment

For the fiscal 2016 third quarter as compared to the prior year period, MSG Entertainment revenues of $73.2 million increased 19%. The increase was primarily due to higher event-related revenues at all of the Company’s venues, led by The Garden and Radio City Music Hall, and revenue from the New York production of the Radio City Christmas Spectacular, as well as higher venue-related sponsorship, signage and suite rental fee revenues. Partially offsetting the overall increase in revenues was the impact from the Company’s decision to shift the timing of the production, now called the New York Spectacular Starring The Radio City Rockettes, from the spring to the summer.

On a reported basis, third quarter AOCF loss was $53.4 million and operating loss was $58.4 million. These results include the impact of a $41.8 million non-cash write-off of deferred production costs due to the creative decision to not include certain prior scenes in the production, now called the New York Spectacular Starring The Radio City Rockettes. Excluding the write-off, fiscal 2016 third quarter AOCF loss would have been $11.6 million, an increase of 4%, and operating loss would have been $16.6 million, an increase of 15%, both as compared to the prior year quarter. The increase in AOCF loss (excluding the write-off) as compared to the prior year quarter reflects higher selling, general and administrative expenses and, to a lesser extent, direct operating expenses, offset by the increase in revenues.

The increase in selling, general and administrative expenses primarily reflects higher corporate general and administrative costs and employee compensation and related benefits. As noted above, selling, general and administrative expenses in the prior year third quarter do not include all of the actual expenses that the Company would have incurred had it been a standalone public company for that period. The increase in direct operating expenses (excluding the write-off) primarily reflects higher event-related expenses at the Company’s venues and expenses for the New York production of the Radio City Christmas Spectacular, partially offset by lower expenses for the New York Spectacular Starring The Radio City Rockettes production.

MSG Sports

For the fiscal 2016 third quarter as compared to the prior year period, MSG Sports revenues of $262.9 million increased 10%. The increase in revenues was primarily due to higher broadcast rights fees from MSG Networks Inc. as a result of new long-term media rights agreements between the New York Knicks and New York Rangers and MSG Networks Inc. In addition, the overall increase in segment revenues reflects the new advertising sales representation agreement with MSG Networks Inc. and higher professional sports teams’ sponsorship, signage and ticket-related revenues. Excluding the impact of the new long-term media rights agreements and advertising sales representation agreement, MSG Sports revenues would have increased 2%, as compared to the prior year period.

Third quarter AOCF increased by $11.5 million to $42.5 million and operating income increased by $8.8 million to $36.5 million. The increase in AOCF and operating income was primarily due to the increase in revenues and, to a lesser extent, a decrease in direct operating expenses, partially offset by higher selling, general and administrative expenses.

The decrease in direct operating expenses was primarily due to lower net provisions for certain team personnel transactions and lower event-related expenses associated with other live sporting events. This was partially offset by higher net provisions for NBA and NHL revenue sharing expense and NBA luxury tax, team personnel compensation costs, and other team operating expenses. The increase in selling, general and administrative expenses was primarily due to higher corporate general and administrative costs, employee compensation and related benefits, and costs associated with the new advertising sales representation agreement with MSG Networks Inc. As noted above, selling, general and administrative expenses in the prior year third quarter do not include all of the actual expenses that the Company would have incurred had it been a standalone public company for that period.

About The Madison Square Garden Company

The Madison Square Garden Company (MSG) is a world leader in live sports and entertainment with a portfolio of legendary sports teams, exclusive entertainment productions and celebrated venues. MSG Sports owns and operates some of the most widely recognized sports franchises: the New York Knicks (NBA), the New York Rangers (NHL) and the New York Liberty (WNBA), along with two development league teams - the Westchester Knicks (NBADL) and the Hartford Wolf Pack (AHL). MSG Sports also presents a broad array of world-class sporting events, including: professional boxing, college basketball, tennis, bull riding and e-gaming events. MSG Entertainment features exclusive, original productions that include the Radio City Christmas Spectacular and New York Spectacular Starring The Radio City Rockettes. MSG Entertainment also presents or hosts a wide variety of live entertainment offerings, including concerts, family shows and special events, in the Company’s diverse collection of iconic venues. These venues are: New York’s Madison Square Garden, The Theater at Madison Square Garden, Radio City Music Hall and Beacon Theatre; the Forum in Inglewood, California; The Chicago Theatre; and the Wang Theatre in Boston, MA. More information is available at www.themadisonsquaregardencompany.com.

2

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, 3) restructuring charges or credits and 4) gains or losses on sales or dispositions of businesses. 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, 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.

#  #  #

Contacts:

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 94963430

Conference call replay number is 855-859-2056 / Conference ID Number 94963430 until May 13, 2016

3

THE MADISON SQUARE GARDEN COMPANY

CONSOLIDATED/COMBINED STATEMENTS OF OPERATIONS

(In thousands, except per share data)

(Unaudited)

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:

4

THE MADISON SQUARE GARDEN COMPANY

CONSOLIDATED/COMBINED OPERATIONS DATA

(Dollars in thousands)

(Unaudited)

REVENUES

ADJUSTED OPERATING CASH FLOW AND OPERATING INCOME (LOSS)

5

THE MADISON SQUARE GARDEN COMPANY

CONSOLIDATED AND COMBINED BALANCE SHEETS

(In thousands, except per share data)

(Unaudited)

6

THE MADISON SQUARE GARDEN COMPANY

SELECTED CASH FLOW INFORMATION

(Dollars in thousands)

(Unaudited)

7