Rainbow Gets Nod from Shareholders

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As expected, Cablevision Systems Corp. shareholders approved the creation and
distribution of a tracking stock for its Rainbow Media Group national
programming holdings Friday.

RMG includes American Movie Classics, Bravo, WE: Women's Entertainment, The
Independent Film Channel, MuchMusic USA and interests in several regional sports
networks.

The Rainbow tracker will likely be distributed to shareholders at a ratio of
one share of RMG for every two Cablevision shares.

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