Madison Square Garden And WaMu Reveal Multi-year Naming Rights Deal For The Theater At Madison Square Garden - Update


(RTTNews) - Thursday, Madison Square Garden (CVC) and WaMu (WM) said that they have reached a multi-year naming rights agreement for The Theater at Madison Square Garden, now the WaMu Theater at Madison Square Garden.

Hank Ratner, vice chairman of Madison Square Garden and Cablevision Systems Corporation, and Steve Rotella, president and chief operating officer of WaMu, jointly announced the partnership. The financial terms of the deal were not disclosed.

Under the terms of the deal the name of The Theater will be changed immediately and WaMu will receive branded signage throughout The Theater, and externally on The Garden, featuring the new WaMu Theater at Madison Square Garden logo.

The companies said that the WaMu Theater at Madison Square Garden name will be included in all marketing and promotional materials for events held at the venue during the length of the agreement and WaMu will place 11 branded ATMs throughout The Garden and Theater In addition to the WaMu Theater at Madison Square Garden, WaMu has naming rights to the WaMu Theater in Seattle, which opened last year.

Madison Square Garden, L.P. is owned by Cablevision Systems Corporation, York The WaMu Theater at Madison Square Garden is a 5,600-seat venue that has served as host to entertainment and sporting events in its over 30-year history.

WaMu, through its subsidiaries, is one of the nation's consumer and small business banks. At March 31, 2007, the company had assets of $319.99 billion. The company and its subsidiary banks currently operate nearly 2,700 consumer and small business banking stores throughout the nation.

CVC closed Wednesday's regular trading session at $35.36 and WM at $42.83.

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