Michael Wach Named Executive Vice President, New York Sales for Rainbow Advertising Sales Corporation

New York, NY, November 7, 2001 – Rainbow Advertising Sales Corporation announced today that Michael Wach has been named Executive Vice President of New York Sales for Rainbow Advertising Sales Corporation (RASCO). Mr. Wach will manage all of RASCO’s New York Metro area business units including Cablevision’s Local Advertising, New York Interconnect, Regional News Rep, News 12 Ad Sales and MetroChannels Ad Sales. He will report directly to David Kline, president of RASCO.

“There is no one better positioned to connect advertisers to New York than RASCO. We are focused on maximizing those assets for our clients through innovative advertising and marketing initiatives,” said Kline. “Michael is a seasoned veteran in this market. We believe that his proven leadership and management skills, experience in ad sales and knowledge of the New York market makes Michael a tremendous addition to the RASCO team.”

Mr. Wach will lead RASCO’s New York Local division, dedicated to support of Rainbow’s New York regional networks, and Cablevision’s local advertising. His appointment follows a strategic shift for Regional News Networks (RNR). At the end of this year, RNR which will begin representing only Cablevision’s regional assets: including the MetroChannels, the New York Interconnect, News 12 Networks, and Cablevision Local Sales. With this move, RASCO now has two distinct divisions, Local, focusing only on Cablevision and Rainbow’s assets in New York; and National, representing Rainbow’s national entertainment networks.

Mr. Wach brings more than 25 years experience in the broadcast industry. Prior to joining RASCO, he was vice president and general manager for WNYW-TV FOX 5. As Vice President and General Manager, he oversaw twelve department heads, a staff of 350 personnel, production of thirty hours of local news weekly and production and broadcast of fifty local New York Yankees games. The three years that Mr. Wach worked for WNYW-TV FOX 5 were the most profitable three-year track in the station’s history.

As a founding partner in BGI-ALPHA Broadcasting, Inc., a radio and television company, Mr. Wach acquired private and venture capital, as well as institutional funding, to purchase three radio stations and one television station in the Florida and Puerto Rico/ U.S. Virgin Islands markets.

Mr. Wach also worked for WLNY-TV in Melville, NY, Tribune Broadcasting- WPIX-TV in New York, NY New England Television Co.- WHDH-TV in Boston, MA and Petry Television in New York, NY.

Mr. Wach is a member of the Board of Directors for numerous organizations. He is the Chairman of Board of Directors for Child Abuse Prevention Services in Roslyn, NY, an Advisory Board Member for the School of Communications at his alma mater, Hofstra University and a Board Member for IRTS.

About Rainbow Advertising Sales Corporation

Formed in 1984, Rainbow Advertising Sales Corporation (RASCO), the advertising
division of Rainbow Media Holdings, Inc., is now the cable industry’s largest and most diverse advertising representation firm. With a staff of more than 500 sales professionals in 32 offices nationwide, RASCO manages nine divisions including: Local, New York Interconnect (NYI), Regional News Rep (RNR), News 12 Sales, MetroChannels, MuchMusic, Bravo Networks, AMC Networks and Interactive Sales.

About Rainbow Media Holdings, Inc.

A subsidiary of Cablevision Systems Corporation (NYSE: CVC) and NBC, Rainbow Media Holdings, Inc. manages Bravo, The Independent Film Channel, American Movie Classics, We: Women’s Entertainment, MuchMusic USA, Rainbow Sports, News 12 Networks and MetroChannels as well as the Rainbow Advertising Sales Corporation and Rainbow Network Communications. In addition, Rainbow is a fifty-percent partner in Fox Sports Net. Metro-Goldwyn-Mayer Inc. (NYSE:MGM) owns a 20 percent stake in four of Rainbow’s national networks – AMC, Bravo, The Independent Film Channel and WE: Women’s Entertainment.


Whit Clay
Sloane & Company