Cablevision Board Approves Rainbow Spinoff

Cablevision Systems' board of directors has approved the leveraged spin-off of AMC Networks, formerly known as Rainbow Media, to Cablevision shareholders. Following the spin-off, Cablevision Founder Charles F. Dolan will become executive chairman of the new, pub...

Cablevision Systems' board of directors has approved the leveraged spin-off of AMC Networks, formerly known as Rainbow Media, to Cablevision shareholders. Following the spin-off, Cablevision Founder Charles F. Dolan will become executive chairman of the new, publicly traded AMC Networks. Dolan will continue in his present role as chairman of Cablevision. The company announced earlier this year that current Rainbow CEO Josh Sapan will become president and chief executive officer of AMC Networks.
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