Spin Zone

Cablevision made good on its promise to work on boosting shareholder value, announcing Tues that it’s considering options, including spinning off at least 1 of its business units. So far, the plan is working. Shares skyrocketed Tues, closing up nearly 9%. The board has authorized the company to explore several strategic options, including buying back stock and paying dividends. The company will retain investment banking firms and such other advisors as necessary to pursue the strategic options. "As we indicated last week we have a strong desire to close the value gap between our operating performance and the market value of our shares and, therefore, we will be actively looking at options to accomplish that," said pres/CEO Jim Dolan. Of course, Rainbow is seen as the most likely candidate for separation/sale [For more analysis, go to www.cablefaxcontentbusiness.com].