Tuesday, May 12, 2009

Today's Fly Or Die Commerce Report: The Cablevision Edition

Despite rumors that have been proclaimed in various financial news outlets, Cablevision denies that it is considering selling Madison Square Garden.

According to Newsday, Cablevision representatives have stated that they are merely considering "spinning off" its MSG holdings. Newsday states, "that would mean Madison Square Garden and its related operations- including the New York Knicks basketball team, the New York Rangers hockey team, Radio City Music Hall and The Beacon Theatre- could become a separate company, possibly one with shares traded on the stock exchange."

Cablevision also owns The Sundance Channel and Newsday.

[SIDEBAR: Cablevision has been able to build their empire predominantly by selling cable tv service to the New York metropolitan are.]

No comments: