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Cablevision to spin off Madison Square Garden unit
Photo credit: Madison Square Garden | The Bethpage, N.Y. company plans to spin off MSG to its existing shareholders by the end of the year. (Photo is an artist's rendering of renovation plans).
Cablevision Systems Corp., which signaled in the spring that it wanted to spin off its Madison Square Garden unit, said Thursday it will go ahead with the plan to focus on its more profitable cable television business.
The Bethpage-based company, the largest cable television operator in the metropolitan area, has been battling telephone giant Verizon, which has moved into the cable business...
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