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Cablevision to Spin-off Satellite Subsidiary

Cablevision Systems announced plans to spin-off its recently launched satellite service (Rainbow DBS.) In addition to Rainbow DBS, the new, spun-off entity will include three of Rainbow Media’s national entertainment services — AMC, The Independent Film Channel and WE: Women’s Entertainment — their subsidiaries, and certain other Rainbow businesses. Cablevision plans to focus primarily on its core regional cable, telecommunications, sports and entertainment assets. Cablevision will no longer retain the rights to offer DBS service in the New York area.
http://www.cablevision.com

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