More Print Cablevision will rename its Rainbow Media programming division AMC Networks Inc

More Print Cablevision will rename its Rainbow Media programming division AMC Networks Inc. after its "Mad Men" channel and tapped Josh Sapan to oversee it ahead of a planned spin-off of the unit.

Cablevision is dropping the Rainbow name, which it says was always a business-to-business moniker and borrowing the name of what is arguably its most successful cable channel.

Revenue at the Rainbow unit grew 14 percent, to $298.5 million, while operating income rose 38 percent to $70.8 million, thanks in part to AMC dramas like "Mad Men" and "Breaking Bad."

Rainbow veteran Sapan will become president and CEO of the unit when it is spun off as a separate company in a transaction expected to be completed by the second quarter, the company said.

Cablevision's controlling Dolan family will keep control of voting rights through a dual class share structure. The company has not said how much debt will be moved to the new unit.