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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