The company also said Wednesday that it is moving Fuse from its Rainbow Media Holdings portfolio to its Madison Square Garden unit.
The move could make Rainbow -- which controls WE tv, AMC, Voom HD Networks and The Independent Film Channel -- more attractive for a possible sale. The MSG unit controls Madison Square Garden, MSG Entertainment, MSG Media, MSG Sports, the New York Knicks National Basketball Association team and the New York Rangers National Hockey League franchise.
Sherman -- former senior vice president and general manager of VH1 Classic, VH1 Soul and VH1 Classic Records and MTV’s MHD HD channel -- was named president of Fuse.
“We believe that the strength of Madison Square Garden with its legendary venues, entertainment properties, teams and award-winning television networks, together with the youthful dominance and national reach of Fuse, is a powerful combination that strengthens our overall business,” Cablevision vice chairman Hank Ratner said in a prepared statement.