Shares of Cablevision Systems hit a 52-week high Thursday after it said that it is once again considering separating its cable systems and cable networks operations – something it has mulled in different scenarios several times in recent years, reports The Hollywood Reporter.
Cablevision’s programming networks are part of its Rainbow Media division.
According to the article, "The company previously even launched a Rainbow tracking stock in 2001 to highlight the value of that business, but declided after about 16 months to pull it. Cablevision president and CEO James Dolan said in a conference appearance Thursday though that "Rainbow now has become such a strong product offering…that it could stand alone." He cited AMC hit shows ‘Mad Men’ and ‘Breaking Bad’ as examples of Rainbow’s success.
"Cablevision emphasized that it is not considering a sale of its networks or cable systems, but simply looking at a spin-off of its Rainbow Media programming business."