Report: John Malone eyes Rainbow Media

Long Island Business News, Jan 3, 2007 by David Reich-Hale

John Malone, who recently agreed to take control of satellite giant DirecTV from Rupert Murdoch, is interested in buying Cablevision Systems Corp.'s Rainbow Media from the Dolan Family, according to published reports.

Sources told the New York Post that the talks were "informal chatter between friendly moguls."

Rainbow Media manages AMC, IFC and Women's Entertainment. All are cable television channels.

Cablevision officials didn't comment on the report.

It's been a busy time for Malone, who traded his stake in News Corp. for control of the biggest satellite provider in the United States.

Cablevision's Dolan Family, meanwhile, have designs on taking the company private.

Cablevision also operates MSG Network and Fox Sports New York, both of which have lost some footing in recent years as other stations, notably SportsNet New York and YES, have launched as competitors. SportsNet New York is partially owned by the New York Mets, and cable rivals Comcast and Time Warner. YES is owned by the New York Yankees.