NBC likely to deal for Bravo.(Cablevision Systems Corp. to sell Bravo to NBC television unit)(Brief Article)
Multichannel News, October, 2002 by Farrell, Mike
Cablevision Systems Corp. could be close to a deal to sell its Bravo cable network to General Electric Co.'s NBC television unit in a stock-and-cash deal worth about $1.2 billion, or about 20 times Bravo's estimated 2002 cash flow of $65 million. According to published reports, NBC, which already owns a 21 percent stake in Rainbow Media Corp.
-- the Cablevision programming arm that includes Bravo -- would swap its interest in the Bethpage, N.Y., MSO for the remaining interest in Bravo, plus cash. Aside from the Bravo stake, NBC owns about 53 million Cablevision shares. Speculation that a deal was in the works was fueled by a late Oct. 4 NBC filing, in which the Peacock Network said it continues to evaluate its position in the MSO, and could...
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