Following its spin-off from Cablevision, Rainbow Media, the parent company of WE tv, IFC and the Sundance Channel will have a new name, but retain current CEO Josh Sapan.
The new public company will include the aforementioned nets, as well as its namesake AMC, home to Mad Men and The Walking Dead. Also under the AMC Networks Inc. umbrella is the company’s international programming business, AMC/Sundance Global; independent film business IFC Entertainment; and AMC Network Communications (formerly Rainbow Network Communications).
“Rainbow owns and operates some of cable television’s most admired networks, and over the past three decades, AMC has become one of the most established of those brands, recognized by consumers, advertisers and investors alike,” said Sapan in a statement. “As we move forward, we want to capitalize on that strong brand awareness for what will be our new public company.”
“Much of the success of Rainbow over the past quarter century is due in no small part to Josh Sapan,” said Cablevision president and CEO James L. Dolan. “He has guided Rainbow’s growth for more than 20 years, overseeing the creation of some of the world’s most compelling television brands, and is the ideal executive to provide the leadership necessary as a new AMC Networks becomes a public company.”
The spin-off is expected to be completed by the middle of this year.