Cablevision Explores Rainbow Spin
Would Be Tax-Free Distribution to Shareholders
Mike Farrell (Multichannel News) -- Broadcasting & Cable, 11/18/2010 10:06:19 AM
Cablevision Systems said Thursday that its board of directors has authorized its management to investigate a spinoff of its Rainbow Media Holdings unit.
The separation, if completed, would be in the form of a tax free spin-off to shareholders.
Rainbow, headed by CEO Josh Sapan, includes national networks AMC, IFC, Sundance Channel, We TV and Wedding Central.
Cablevision completed a spin of its Madison Square Garden unit earlier this year.
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