Wunderlich Reports Josh Sapan Named Chief Mad Man At Cablevision Systems

In a report published by Wunderlich, Cablevision Systems CVC indicated prior to the close yesterday that the newly christened AMC Networks Inc. (i.e., Rainbow) should be spun off by the end of Q2 with Josh Sapan hardly surprisingly the CEO.

Wunderlich said that AMC will include the namesake AMC cable network, IFC, WE tv, and Sundance Channel. “We are adhering to our Buy rating and $44 price target on CVC shares. The target is derived using our S&P 500-linked valuation approach; the operational outlook for Cablevision is meshed in with our FiOS forecast for the Cablevision footprint. Cablevision management recently made optimistic comments on the Bresnan acquisition, business services growth, and its Wi-Fi strategy at an investor conference.”

Cablevision Systems closed yesterday at $35.21.