Cablevision Systems reportedly has taken Rainbow Media off market...
Cablevision Systems reportedly has taken Rainbow Media off market and instead is reconsidering creation of separate tracking stock for its cable programming unit. Cablevision, which put Rainbow up for sale last month after Comcast, Liberty Media, MGM, NBC, USA…
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Networks and Viacom all expressed interest in buying it, is taking latest move after receiving bids that were lower than expected, N.Y. Times reported. Cablevision had been seeking at least $4-$5 billion for Rainbow but USA and several other potential buyers dropped out, leaving only Viacom and Comcast still in contest and leading to bids lower than $4 billion. Special shareholder meeting to approve tracking stock, first scheduled for last fall and then postponed several times, now is slated for Fri.