Cablevision, the corporate parent of Rainbow Media–which consists of AMC, IFC, Sundance Channel and WEtv–is getting a new name as it prepares to be spun-off in a few months as a new public company, Bloomberg reports.
The unit will now be called AMC Networks, and will include the networks AMC, IFC, WE tv and Sundance Channel, the story says adding that the new business will likely be based in New York, according to a Cablevision spokeswoman.
The spinoff is expected by the end of June, although no date has been set for its public listing, the story says.
The CEO of the new unit will be Josh Sapan. Sapan joined Rainbow in 1987 as president of AMC and Bravo, and has been the CEO or Rainbow since 1995, the story notes.
In recent years AMC has had great fortune with original series, including "Mad Men, "Breaking Bad," and "The Walking Dead."