History
When Rainbow was formed in the 1980, it originally included Bravo and SportsChannel New York. As SportsChannel expanded by adding other regional networks, these also became part of Rainbow (see SportsChannel America). When SportsChannel was merged into Fox Sports Net, all of these networks except SportsChannel NY (then Fox Sports New York) were gradually sold off. Fox Sports New York was then transferred to the MSG Media and rebranded MSG+.
Rainbow originally started the Playboy Channel in 1982 as a joint-venture with Playboy, Cablevision would later sell its share back to Playboy.
In 1988, Cablevision merged their cable networks with NBC, giving NBC 50% ownership in Rainbow. Through a series of transactions, NBC's stake was eventually reduced. In 2002, Cablevision sold its share of Bravo to NBC and as part of the deal, NBC gave up its then 20% share in Rainbow.
Rainbow ran the local-minded MSG Metro Channels which launched in 1998, before folding them in late 2005.
The company had also founded Orlando, Florida station WRBW in 1994, which it eventually sold to Chris-Craft in 1998; it was affiliated with the since-defunct UPN, which Chris-Craft owned half of at the time. Chris-Craft later sold its stations, including WRBW, to Fox Television Stations, who currently operates WRBW as a MyNetworkTV station.
In 2005, Cablevision considered spinning off its content subsidiary Rainbow Media as a publicly traded company, and making their core cable business private, but withdrew the plan. In 2006, a new plan emerged to privatize all of Cablevision, including Rainbow Media. In January 2007, with no word on if the privatization would go through, Liberty Media expressed interest in acquiring Rainbow Media from Cablevision.
Rainbow Media also formerly owned the music channel Fuse; the channel became a part of MSG Media in 2010, as Madison Square Garden was also spun-off as a public company. Rainbow Media also owned Wedding Central which was shut down the same day AMC Networks went public.
On March 10, 2011, Cablevision, as approved by its board on December 16, 2010, announced that Rainbow Media would be spun off as a publicly traded company, AMC Networks, later in 2011, and, as said in 2005, making their core cable business private. Rainbow Media's former president Josh Sapan serves as the president and chief executive of AMC Networks which went public on July 1, 2011.
Read more about this topic: AMC Networks
Famous quotes containing the word history:
“Don’t you realize that this is a new empire? Why, folks, there’s never been anything like this since creation. Creation, huh, that took six days, this was done in one. History made in an hour. Why it’s a miracle out of the Old Testament!”
—Howard Estabrook (1884–1978)
“Gossip is charming! History is merely gossip. But scandal is gossip made tedious by morality.”
—Oscar Wilde (1854–1900)
“We aspire to be something more than stupid and timid chattels, pretending to read history and our Bibles, but desecrating every house and every day we breathe in.”
—Henry David Thoreau (1817–1862)