Cablevision to spin off Madison Square assets- report
NEW YORK, July 29
NEW YORK, July 29 (Reuters) - Cablevision Systems Corp (CVC.N) is preparing to spin off its Madison Square Garden assets, Bloomberg News reported on Wednesday, citing a person familiar with the matter.
Those assets include the New York Knicks basketball team and Radio City Music Hall, it said, and stockholders would receive one share of the new company, to be called Madison Square Garden, for every share of Cablevision they own.
Cablevision was not immediately available for comment. (Editing by Carol Bishopric)
- Sunken Korea ferry relatives give DNA swabs to help identify dead |
- Special Report: How the U.S. made its Putin problem worse
- Vice-principal of South Korea school in ferry disaster commits suicide |
- Japan expands army footprint for first time in 40 years, risks angering China
- Mediator heads to east Ukraine, seeking surrenders |