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Cablevision to Spin Off MSG Business

Company also reports solid Q2 with 5% increase in cable revenue 7/30/2009 11:10:29 AM Eastern

It looks as if Cablevision Systems Corp. will be spinning off its Madison Square Garden business after all.

The cable company's board of directors has authorized the company's management to move forward with the spin-off of MSG to Cablevision shareholders.

Following the spin-off, stockholders would own shares in both Cablevision and the new MSG, including the New York Knicks and New York Rangers professional sports teams, MSG Network, Madison Square Garden and Radio City Music Hall, among a host of other assets.

To read the full article from Multichannel News, click here.

Related Story: Cablevision Reports Solid Q2

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