Rainbow Gets Nod From Shareholders


BETHPAGE, N.Y. -As expected, Cablevision Systems Corp. shareholders approved the creation and distribution of a tracking stock for its Rainbow Media Group national programming holdings last 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 is expected to be distributed to shareholders at a ratio of one share of RMG for every two Cablevision shares.