Cablevision Explores Rainbow Spin

Would Be Tax-Free Distribution to Shareholders

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.

Read more at Mutlchannel News here.