NEW YORK, Sept 13 (Reuters) - Cablevision Systems Corp's decision to spin off New York City sports arena Madison Square Garden could be the first step in getting more value out of the cable television provider, and could also make the company a takeover target, Barron's reported on Sunday.
The spinoff would get Cablevision out of paying to renovate the popular sports and rock concert venue, Barron's said. The $500 million estimate for renovating the Garden could be half what it will actually cost, the newspaper said.
Additionally, the spinoff would make the company easier to analyze, Miller Tabak analyst David Joyce told Barron's.
Cablevision also could become ripe for takeover by cable providers such as Comcast Corp or Time Warner Cable , Barron's said.
(Reporting by Robert MacMillan; Editing Bernard Orr) Keywords: CABLEVISION/ (robert.macmillan@thomsonreuters.com; +1 646 223 6012; Reuters Messaging: robert.macmillan.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The spinoff would get Cablevision out of paying to renovate the popular sports and rock concert venue, Barron's said. The $500 million estimate for renovating the Garden could be half what it will actually cost, the newspaper said.
Additionally, the spinoff would make the company easier to analyze, Miller Tabak analyst David Joyce told Barron's.
Cablevision also could become ripe for takeover by cable providers such as Comcast Corp or Time Warner Cable , Barron's said.
(Reporting by Robert MacMillan; Editing Bernard Orr) Keywords: CABLEVISION/ (robert.macmillan@thomsonreuters.com; +1 646 223 6012; Reuters Messaging: robert.macmillan.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.