Graham Holdings to Spin Off Cable One
Graham Holdings will spin off its subsidiary Cable ONE, Graham Holdings said in a news release Thursday. Graham, the former owner of the Washington Post Company, was authorized by its board to proceed with the plan Thursday, and the deal…
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is expected be completed in 2015. Cable ONE will be an independent, publicly traded company, the release said. “The separation will position Graham Holdings to pursue continued growth opportunities, while enabling Cable ONE to focus entirely on its video, Internet and voice services and to attract a more natural stockholder base,” said Graham Holdings Board Chairman Donald Graham. The proposed transaction will be structured as a tax-free spin-off of Cable ONE to the stockholders of Graham Holdings, and is contingent on regulatory approvals, the release said.