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Tad Smith to replace Hank Ratner as MSG CEO

Hank Ratner announces the completion of three-year, $1billion

Hank Ratner announces the completion of three-year, $1billion face-lift to Madison Square Garden on October 24, 2013. Photo Credit: Andrew Burton/Getty Images

Hank Ratner is being replaced as president and chief executive officer of Madison Square Garden Co. (MSG), the owner of the New York Knicks and Rangers and Radio City Music Hall by Cablevision's president of local media, Tad Smith, according to Newsday.

Ratner has held the CEO post since 2009. Smith joined Cablevision that same year to oversee the newly-created local media group.

MSG shares fell to $57.89 by 1:45 p.m. Friday.

Cablevision owns amNewYork.

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