James Dolan

Madison Square Garden Chairman and Cablevision CEO James Dolan smiles as he is introduced during a press conference announcing that plans for a long-sough overhaul of Pennsylvania Station will be restarted Jan. 6, 2016 in New York.

AP Photo/Kathy Willens

James Dolan, whose family used to own Cablevision Systems before its sale to European cable and telecom giant Altice, and wife Kristin on Monday unveiled Dolan Family Ventures, a new company that plans to make "focused investments in data, analytics and technology-based businesses."

Since the new company is privately held, financial specifics, such as the amount the venture will have for investments, weren't immediately.

Kristin Dolan, most recently COO of Cablevision, serves as founder and managing partner of DFV. She was understood to be leaving her Cablevision post as Altice was looking to cut expenses, including for executive pay, but the company reportedly was looking at possibly creating a data-focused venture like DFV with her. James Dolan is an investor in and strategic advisor for DFV.

“The advertising, marketing and media industries are rapidly transforming through the advancement of data, technology and analytics,” said Kristin Dolan. “Over the past several months, we have seen a number of investments in businesses that specialize in these areas and capitalize on these trends."

She added: "DFV will allow us to pursue opportunities with companies and talent that can benefit from our capital, insights, relationships, entrepreneurial experience and operational skills to accelerate their growth, development and success."

This article was originally published by The Hollywood Reporter.