Graham Holdings To Spin-Off Cable ONE

(RTTNews) - Graham Holdings Co. (GHC) said Thursday that its Board of Directors has authorized management to proceed with plans for the complete legal and structural separation of the company's subsidiary Cable ONE, Inc. into an independent, publicly traded company.

Graham Holdings plans to complete the proposed transaction in 2015.

"After a careful review of strategic options, we believe that a separation of Graham Holdings and Cable ONE will create value for the companies and our shareholders," said Donald Graham, chairman of the Graham Holdings Board of Directors. "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."