R
Robert Heitner
Guest
Original poster
Cablevision: Spinoff Won't Occur in 2004
WASHINGTON - Cablevision Systems Corp. Friday said it no longer believes it
will complete the spinoff of its Rainbow Media Enterprises unit this year as
planned.
The unit includes Voom, Cablevision's nascent satellite TV service, along
with Clearview Cinemas and cable channels AMC, IFC and WE.
Cablevision, the sixth-largest cable operator in the country by subscribers,
had previously pushed back its spinoff date to the fourth quarter from the
third quarter. The company is based in Bethpage, N.Y.
Cablevision said it wouldn't comment beyond Friday's filing with the
Securities and Exchange Commission.
The company last month also disclosed changes to its spinoff plan, saying it
would hand over $350 million in preferred interests to the new entity.
Cablevision had intended to hold on to redeemable preferred membership
interests. By giving those up, Cablevision effectively reduced Rainbow's
liabilities.
[Non-text portions of this message have been removed]
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WASHINGTON - Cablevision Systems Corp. Friday said it no longer believes it
will complete the spinoff of its Rainbow Media Enterprises unit this year as
planned.
The unit includes Voom, Cablevision's nascent satellite TV service, along
with Clearview Cinemas and cable channels AMC, IFC and WE.
Cablevision, the sixth-largest cable operator in the country by subscribers,
had previously pushed back its spinoff date to the fourth quarter from the
third quarter. The company is based in Bethpage, N.Y.
Cablevision said it wouldn't comment beyond Friday's filing with the
Securities and Exchange Commission.
The company last month also disclosed changes to its spinoff plan, saying it
would hand over $350 million in preferred interests to the new entity.
Cablevision had intended to hold on to redeemable preferred membership
interests. By giving those up, Cablevision effectively reduced Rainbow's
liabilities.
[Non-text portions of this message have been removed]
------------------------ Yahoo! Groups Sponsor --------------------~-->
$4.98 domain names from Yahoo!. Register anything.
http://us.click.yahoo.com/Q7_YsB/neXJAA/yQLSAA/EyMolB/TM
--------------------------------------------------------------------~->
Yahoo! Groups Links
<*> To visit your group on the web, go to:
http://groups.yahoo.com/group/VOOM/
<*> To unsubscribe from this group, send an email to:
VOOM-unsubscribe@yahoogroups.com
<*> Your use of Yahoo! Groups is subject to:
http://docs.yahoo.com/info/terms/
