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Cablevision Mulls Spin-Off of “Mad Men” Unit

By Market News Video Staff, Thursday, November 18, 1:42 PM ET

Cablevision (NYSE:CVC) said today it is considering a spin-off of its Rainbow Media Holdings unit, which includes AMC (of “Mad Men” fame), Sundance and IFC. The move would give more flexibility to both itself and Rainbow Media, Cablevision said. According to Cablevision, a potential transaction would be completed by the mid-2011.

Cablevision shares surged on the news, trading higher by more than 7% on Thursday.

According to the ETF Finder, the company accounts for 2.96% of the Dynamic Telecommunications & Wireless portfolio (PTE). Top holdings in the fund include Time Warner Cable (NYSE:TWC) at 5.34% of the total, followed by Comcast (NASDAQ:CMCSA) at 5.23%, and Verizon Communications (NYSE:VZ) at 4.78% of the fund.


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This Article's Word Cloud:   According   CHANNEL   CMCSA   Cablevision   Dynamic   Holdings   Investment   Media   NYSE   PORTFOLIO   Portfolio   Rainbow   Sundance   Telecommunications   Warner   accounts   allows   asset   bonds   classes   company   complete   completely   considering   countries   designed   flexibility   follow   followed   fund   give   growth   higher   include   investors   leads   more   news   performance   portfolio   program   said   shares   short   spin   stocks   terms   transaction   unit   would
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