New York - Cablevision's (NYSE: CVC) Rainbow Media Holdings announced that it has sold off its two video-on-demand services, the education-oriented Lifeskool and sports instruction-based Sportskool.

Lifeskool was purchased by entrepreneurs Joe Covey and Matthew Davidge, who will operate the business using the network's previous brand name, Mag Rack Entertainment.

Grace Creek Media, a D.C.-based production company, purchased Sportskool, and will work with USA Today Live, the TV production arm of the Gannett-owned newspaper, to produce new instructional sports videos.

Financial terms of the transactions were not disclosed.

Related Links:
http://www.rainbow-media.com/release_release_press.jsp?nodeid=5913

http://www.rainbow-media.com/release_release_press.jsp?nodeid=5912

http://www.magrackentertainment.com

http://snipurl.com/47v6k (Grace Creek Media)