Madison Square Garden Co. said it has named long-time media executive John Sykes to its board of directors. Sykes, who becomes an independent Class A director of the company, is expected to become a director of MSG’s media company once it completes its planned spin-off.
MSG said in October that it planned to split into two companies – a media unit housing its regional sports networks and a sports and live entertainment unit including its professional sports teams and its arenas. The split is expected to be completed sometime this year.
Sykes, currently president of entertainment enterprises at iHeartMedia, has a 30-year history in the media business. He was a co-founder of MTV, p[resident of VH1, president of network development for MTV and CEO of Infinity Broadcasting (formerly CBS Radio).
“We are very pleased to welcome John to our board,” MSG executive chairman James Dolan said in a statement. “John’s significant expertise in building and managing some of the world’s most powerful and enduring media brands will add considerable value as we pursue our proposed spin-off and seek to increase shareholder value across all of our businesses.”
An active philanthropist, Sykes joined Jim Dolan and Harvey Weinstein in 2001 to co-produce “The Concert for New York City,” which raised more than $35 million in aid for 9/11 victims and heroes. In 2012, the three entertainment executives teamed up again to co-produce “12-12-12: The Concert for Sandy Relief,” which raised more than $50 million to assist the millions of people in the tri-state area impacted by Superstorm Sandy. Sykes currently serves on the boards of the Robin Hood Foundation, Shazam Mobile, The Rock and Roll Hall of Fame and Syracuse University’s Newhouse School of Communications.
“I am honored to be joining MSG’s board during this exciting time,” Sykes said in a statement. “I have tremendous respect for Jim and the other board members, and look forward to working with them on the continued evolution and growth of the company.”