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January 4, 2001 | SALLIE HOFMEISTER, TIMES STAFF WRITER
In the face of a spirited bidding war for its four national cable TV channels, Cablevision Systems Corp. said Wednesday it would postpone for a third time a stockholders meeting to vote on whether to spin off its programming unit, Rainbow Media Group. Cablevision, New York City's largest cable television operator, rescheduled the meeting for Feb.
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BUSINESS
July 4, 2003 | From Dow Jones/Associated Press
Cablevision Systems Corp. said the Securities and Exchange Commission issued a formal order of investigation and subpoena in connection with the company's Rainbow Media unit, according to a company filing. In mid-June, Cablevision said an internal review of a division of Rainbow Media found some improper expense accruals. Cablevision fired 14 employees, including the head of its American Movie Classics channel. Shares of Bethpage, N.Y.-based Cablevision fell 30 cents to $22 on the NYSE.
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BUSINESS
July 4, 2003 | From Dow Jones/Associated Press
Cablevision Systems Corp. said the Securities and Exchange Commission issued a formal order of investigation and subpoena in connection with the company's Rainbow Media unit, according to a company filing. In mid-June, Cablevision said an internal review of a division of Rainbow Media found some improper expense accruals. Cablevision fired 14 employees, including the head of its American Movie Classics channel. Shares of Bethpage, N.Y.-based Cablevision fell 30 cents to $22 on the NYSE.
BUSINESS
January 4, 2001 | SALLIE HOFMEISTER, TIMES STAFF WRITER
In the face of a spirited bidding war for its four national cable TV channels, Cablevision Systems Corp. said Wednesday it would postpone for a third time a stockholders meeting to vote on whether to spin off its programming unit, Rainbow Media Group. Cablevision, New York City's largest cable television operator, rescheduled the meeting for Feb.
BUSINESS
August 6, 2002 | Reuters
Cablevision Systems Corp. said it would end the Rainbow Media Group tracking stock after 16 months of trading, raising the possibility that cable channels AMC, Bravo and Independent Film Channel would be sold. Analysts said the move could be Cablevision's first step toward putting the networks on the block to raise cash to meet its capital spending needs next year. Analysts estimate the funding gap could be $500 million to $1 billion. Cablevision is divided into two operating units.
BUSINESS
August 10, 2000 | From Reuters
Cablevision Systems Corp. which owns cable television systems and professional sports teams, reported Wednesday a narrowing second-quarter loss and said it would create a tracking stock linked to its interests in cable TV programming. The tracking stock, to be called the Rainbow Media Group, would reflect the performance of Cablevision's stakes in cable channels Bravo, American Movie Classics, Independent Film Channel, Fox Sports Net and others.
BUSINESS
December 6, 2001
Metro-Goldwyn-Mayer Inc. Chief Executive Alex Yemenidjian expressed interest Wednesday in acquiring Paxson Communications Corp. if the movie company could buy Paxson for a low-enough price. "I think Paxson would fit very well with MGM with the right structure and the right price," Yemenidjian said at the UBS Warburg Media Week conference in New York. He spoke a day after Paxson, owner of 65 U.S. television stations, asked the Federal Communications Commission to block General Electric Co.'
BUSINESS
December 27, 2000 | From Bloomberg News
Viacom Inc., the world's third-largest media company, filed with the Securities and Exchange Commission on Tuesday to sell $5 billion in securities. Viacom, which owns the CBS and UPN broadcast networks as well as the MTV and VH1 cable channels, will register the securities in advance, according to an S-3 filing with the SEC. That allows the New York-based company to sell securities when stock conditions are favorable or when financing needs arise.
BUSINESS
October 6, 2001 | JONATHAN MAKE, BLOOMBERG NEWS
Cablevision Systems Corp. said Friday that it is considering selling some assets as it reduced earnings expectations for 2001 and canceled a $1-billion stock offering. Shares of Cablevision, the New York City area's largest cable television operator, fell 11%. The company didn't say what it might sell in its New York unit, which includes the Wiz chain of consumer electronics stores, Madison Square Garden and Radio City Music Hall. A sale of cable subscribers to AOL Time Warner Inc.
BUSINESS
August 10, 2001 | From Bloomberg News
Cablevision Systems Corp. agreed to let AT&T Corp. sell its roughly 30% stake in the company, which investors said might clear the way for a sale of the New York City area's biggest cable-television operator. Under the agreement, AT&T may now sell 18.6 million of its 48.9 million Cablevision shares and register the rest for sale in six months, Cablevision said. Cablevision will sell as much as $1 billion in stock to the public under the plan.
BUSINESS
February 2, 2001 | SALLIE HOFMEISTER, TIMES STAFF WRITER
Metro-Goldwyn-Mayer Inc. has agreed to pay $825 million in cash for a 20% stake in four national cable channels owned by Cablevision Systems Corp. in one of the richest deals ever paid for such properties. The agreement was struck before dawn on Thursday, after Cablevision, the largest cable operator in New York, failed in an auction to get its asking price of more than $4 billion for its cable programming holding company, Rainbow Media Group.
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