Cablevision: MSG, Other Business Units Not For Sale

Company Issues Statement Saying Madison Square Garden Is Not Being Considered For Sale

Todd Spangler -- Multichannel News, 5/11/2009 2:53:00 PM

Cablevision Systems on Monday issued a statement that it is "not considering the sale of MSG, any of MSG's businesses or any other Cablevision business at this time."

Last week, Cablevision announced that its board of directors was evaluating the possibility of spinning off the Madison Square Garden business to Cablevision stockholders.

In its statement Monday, Cablevision said the spin-off announcement "has resulted in speculation that has included the possible sale of MSG and/or other Cablevision and MSG businesses" and as such, the company said it wanted to make it clear that it was not considering selling any assets at this time.

The MSG unit includes the Madison Square Garden arena; the MSG and MSG Plus regional sports channels; sports teams the New York Knicks, New York Rangers and New York Liberty; Radio City Music Hall; the Chicago Theater; the Beacon Theater and cable music channel Fuse.

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