via CBS Sports.Cablevision Systems Corp. said Thursday that its board has approved a plan to spin off as a separate company its Madison Square Garden business, owner of the New York Knicks, Rangers and the famed sports arena where they play.
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In a widely anticipated move, the Bethpage, N.Y.-based company said the unit will be spun off to existing shareholders by the end of the year. The Dolan family, which controls Cablevision through a special class of shares, will retain control of the new company. More here.
So what else is new? Saw this one coming a mile away.
tdr

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