that's cablevision. a successful cable franchise. there certainly will be speculation again sparked by the saying, you know what, even though james dolan will be president and ceo of cable vision and chairman of madison square garden, nonetheless, investors are sure to say that maybe now is the time that his father, chuck doladolan, 84-yead chairman of the company looks to sell. don't forget. it was only in '08 that the company had a $36.26 go private deal that was turned down by its own shareholders. shocking at the time. still puzzling. you split the two companies with different ebitda profiles. free cash flow of $400 million for the first half of this year. could earn $3 of free cash flow a share in 2010. put a multiple on that. then you have the garden. yes, significant renovations are needed there. that will be an expense. there are other expenses associated with the garden. but nonetheless, you get $150 million in ebitda over time and you create a good deal of value being reflected in what we've seen in the early move in the st

how about cablevision? two years ago the dolans were trying to take it private, one of their many series of financial engineering. we said, no, unless you shop the deal, which they weren't willing to do or give us a look back, we weren't going to vote for it. the deal didn't go through. they got lucky. otherwise they would have financial challenges. yesterday they announced fundamental, rutledge is doing a great job, tom rutledge, of running the cable business. and then they announced they got formal approval for what i thought would happen a long, long time ago and that is to spin off the knicks, rangers, madison square garden, rockettes, various venues to shareholders. you and i are shareholders, we'll receive one share of madison square garden, msg, and that's a very attractive asset. that's a process that leads to the next step. the next step, we think and i think, is to sell off their rainbow, which is american movie classic, women's entertainment, ifc, the sundance channel, and then they have a cable

this this is going on and 50 million cable homes have five days later because i f c is part of cablevision 8 mimics per person economic sense because most people live in cities where there is no art houses. so it gives them an opportunity to see these and be support by 99 at their house at the same time audiences in new york and l.a. are seeing them. so we're gonna see more of this in the picture. alternative methods of distribution for smaller movies. bottom line this year is shaping up to be another profitable one. we're still 9%% above last year's collapse six weeks there's gonna be some unexpected hits every thing is still go and find is doing solid business. and so much as always david sikich movie industry analyst. , of matt shapiro is back with us for a tripod and we highlight a stock that has seen a 20% jump in the past one month. that's coming up next. çÑçÑçÑ welcome back to everybody matt shapiro of m w s capital along with us for chart talk and that it seems like during the recession everyone is looking to candy for comfort. one of my favorite stocks hershey's stock symbol curre

>> we love cablevision.that's a name where we think they're about to spin off msg, we think there will be an announcement soon. it will show you how good cable vision? the new york tristate area, basically everyone has digital capable. they're the killer. >> when will they sell the knicks, rangers and madison square garden? >> the phoenix coyotes are worth $300 million, the canadiens worth $500 million, and the cubs just sold? no one gives the knicks and rangers any real value at all. >> i do. >> segmenting them out and separating to a separate company will allow invest oors to do more work on the valuation. >> rich, got it, thanks so much for your time. >>> next right here, talk your earnings edge, goldman sachs blew away estimates, posting a report strait, but we've still got a whole lot more to talk about. jpmorgan, bank of america, citi, here to help us is jeff, the managing director. we've been talking on the desk that goldman had a blowout quarter. do you glean anything and apply it to what you're expe

there is an advertising shift under way from traditional media to new media, with disney, comcast, cablevision, and discovery all set to report quarterly earnings. for insight on what to expect i'm joined right now by one of the most widely followed media analysts on wall street, jessica reef cohen. she's managing director at bank of america securities merrill lynch. jessica, always great to see you. how have you been? >> great. thank you, maria, for having me on. >> let's talk about the quarter coming up. i guess the shift from old media to new media is one of the biggest issues here. what are you expecting in terms of the media companies' earnings? do you think we'll see a real reflection of that shift going on? >> this is going to be such a difficult quarter for traditional media. we're looking for solid double-digit declines in revenue and in cash flow. there will be very significant cost savings. but it's going to be a very tough quarter. for the cable kilometers we're expecting revenue and cash flow to be up modestly. low single digits. but this is -- you know, advertising, it's been a v