Cablevision executives are exploring a potential spinoff of its Madison Square Garden business, according to the NY Times. There are a variety of possibilities that would impact the Knicks and Rangers franchises, as well as Madison Square Garden/Penn Station area development: The Times explains that companies sometimes sell their spinoffs or retain an ownership stake—or simply want to gauge value for the spinoff—so it's simply unclear what will happen. One analyst said, "Cablevision watchers (and we’d put ourselves in that category) have long pondered possible endgames, and the notion that the Dolans would retain ownership of M.S.G. and the New York sports teams long after the rest of the assets had been divested has always been viewed as among the most likely outcomes." Cablevision's chairman is Charles Dolan while his son James is chairman of MSG, running the Knicks and Rangers. A former MSG executive also told the Times, "Jimmy Dolan has said many times he wants to run these assets for the rest of his life." Good readin: This 2005 New York magazine feature about James Dolan. more ›