AMC Networks Becomes a Separate Public Company

AMC Networks Inc. AMCX announced today that its spin-off from Cablevision Systems Corporation CVC is complete and that AMC Networks is now a separate, public company that trades on NASDAQ as "AMCX." AMC Networks, formerly Rainbow Media Holdings, has changed its name in conjunction with the spin-off. AMC Networks' status as a standalone entity follows the distribution by Cablevision of all of AMC Networks' outstanding common stock. The distribution occurred on June 30, 2011 to Cablevision shareholders of record as of the close of business on June 16, 2011. In the distribution, Cablevision Class A stockholders received one share of AMC Networks Class A common stock for every four shares of Cablevision Class A common stock they held as of the record date. Cablevision Class B stockholders received one share of AMC Networks Class B common stock for every four shares of Cablevision Class B common stock they held as of the record date. As previously announced, Josh Sapan is president and chief executive officer of AMC Networks and Charles Dolan will serve as executive chairman of the newly public company, while continuing his present role as chairman of Cablevision. Mr. Dolan stated: "This is an important moment for AMC Networks, which has a long history of innovation and excellence in creating compelling programming for targeted audiences. We look forward to building on those achievements and believe that the company is well positioned for today's marketplace under the leadership of Josh Sapan and his excellent management team."