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Cablevision to spin off satellite business and program channels
Oct 27, 2003 12:00 PM
The Cablevision Systems Corporation plans to create a separate
company for its fledgling satellite TV service and three of its cable
program channels. The new unit, to begin on Jan. 1, will be called
Rainbow DBS.
In addition to Cablevision’s the direct broadcast satellite
service, the new company will include the cable channels AMC, the
Independent Film Channel and WE: Women's Entertainment.
Retained by the parent company will be the regional cable and
telecommunications businesses, Madison Square Garden and its
professional sports teams, Radio City Music Hall and other assets
including Clearview Cinemas and interests in regional sports
networks.
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