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Subsidiary and tracking stock of Cablevision (75% owner) and NBC (25%). Formed in 1980 by Cablevision, it was one of the first companies to deliver focused programming to niche markets and develop loyal core constituent audiences. Owns and operates the following channels: American Movie Classics, The Independent Film Channel, MSG Metro, MuchMusic, News12, WE: Women's Entertainment (formerly Romance Classics), and 50% of Fox Sports Net New England, and 100% of Fox Sports Net New York and FSN Chicago, and 60% of FSN Bay Area. Had the first ever court channel, In Court. It used to own Bravo, but sold it off to NBC.

Rainbow Media Holdings also owns and operates Madison Square Garden, Radio City Music Hall, the New York Knicks, and the New York Rangers.

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