Tucked away at the bottom of Cablevision’s earnings report Thursday was a curious note: “The Board of Directors of Cablevision has authorized the company’s management to explore the spin-off of its Madison Square Garden business.”
That admission, with no additional explanation or elaboration given, touched off a flurry of speculation: Will the Dolan family, which controls Cablevision, sell its moneymaking sports franchise to raise cash? Will it just separate it and stick with it themselves?
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