Another serial spinner is at it again. In 2010, James Dolan spun off Madison Square Garden from its Cablevision empire in order to better value its sports and entertainment related businesses. Five years later the regional sports businesses got their own turn to shine via the spin off of MSG Networks (MSGN). Three years later and the Madison… Read More »
Lets take a look at some recent spinoff news from the large asset manager: 1) Horizon Kinetics Likes Conduent (CNDT) At the very end of 2016, Xerox (XRX) spun off its business process outsourcing unit Conduent. After an initial dip, shares have recovered, but overall, the stock has mostly been flat since the spinoff. That isn’t a terrible outcome… Read More »
Horizon Kinetics is an asset management and research shop founded by Peter Doyle, Steven Bregman and Murray Stahl that has been analyzing spinoffs (and plenty of other things) for decades. Over the years, I’ve always enjoyed the various opportunities I’ve had to hear them speak. The firm even publishes a standalone research report dedicated to spinoffs and has… Read More »
The Dolan family has spent the better part of the decade spinning off assets. The dynasty behind Cablevision(CVC) spun off the Madison Square Garden Company(MSG) in 2010, followed by AMC Networks(AMCX) in 2011. Now, all three companies are in the midst of radical transformations. Early this morning, Cablevision announced that it would be acquired by French telecom Altice… Read More »
The network behind Mad Men is about to be set free as Cablevision Systems’ (CVC) board of directors approved the spinoff of AMC Networks (formerly known as Rainbow Media). The new company will trade under the ticker AMCX with the share distribution occurring on June 30 to shareholders on June 16th (today). Bear in mind that the Dolan family of NY basketball/hockey… Read More »