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Cablevision surrenders, will exit Wiz stores

After wrestling with a business that it bought out of bankruptcy court,
Cablevision Systems Corp. said it will sell or close its remaining 17 The Wiz
consumer-electronics stores.

Cablevision closed 26 stores in the chain last year.

The chain was already in bankruptcy court when Cablevision bought it four
years ago, and the cable operator said it was central to its New York market
strategy of stitching together movie theaters, concert halls and retail outlets
for cable equipment. Much of that strategy has been a bust.