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MediaBuyerPlanner: Madison Square Garden has inked its first-ever naming rights agreement, with a multi-year deal with Washington Mutual for the new WaMu Theater at Madison Square Garden.
The theater's name will be changed effective immediately. WaMu will receive branded signage through the theater and outside Madison Square Garden, the parties announced today. The name will be included in all marketing and promotional materials for events held at the venue. WaMu will also place 11 brnaded ATMs throughout the Garden and theater.
Steve Rotella, president and chief operating officer of WaMu, said that New York is an important market to the company. "The visibility on the venue's ads, billboards and signage gives us a tremendous opportunity to extend our brand, which focuses on making banking simpler and delivering industry leading service, to millions of customers and potential customers who attend music and other events and use WaMu's onsite ATMs," he said in a statement.
Financial terms of the agreement were not disclosed.
With more than 325 retail banking centers and nearly 5,000 employees in the New York area, WaMu has a history of supporting entertainment in New York City. This includes a massive "buy out" of all theater tickets on Broadway for a day and donating those tickets to teachers, serving as presenting sponsor of the musical "Movin' Out," and creating giant interactive Times Square billboards.
In addition to the WaMu Theater at Madison Square Garden, WaMu has naming rights to the WaMu Theater in Seattle, which opened last year.
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