Cablevision retains advisors to evaluate buyout offer

Scott Greczkowski

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Cablevision retains advisors to evaluate buyout offer

http://www.newyorkbusiness.com/news.cms?id=11187
July 18, 2005



Cablevision Systems Corp. said it has hired Morgan Stanley and Lehman Brothers to advise it on a proposed buyout offer.

The Bethpage, L.I.-based cable and entertainment company also retained Willkie Farr & Gallagher as legal counsel. Last month, the Dolan family offered to take Cablevision private in a $7.9 billion cash-and-stock deal. Charles Dolan would remain chairman of Cablevision, while his son, Chief Executive James Dolan, would become CEO and chairman of Rainbow Media Holdings, comprising the company’s television networks and sports teams.


Cablevision’s entertainment assets include the New York Knicks, Radio City Music Hall and Madison Square Garden. Its cable networks include American Movie Channel, Independent Film Channel and WE.

A special committee of the board of directors, which includes directors Thomas Reifenheiser and John Ryan, “is at the beginning stages of its evaluation.”

Earlier this year, the Dolan’s battled over the fate of Rainbow’s money-losing satellite business, Voom. The battle came to an end in April after the elder Mr. Dolan ran out of options to keep the business running and Voom began closing.

For the younger Mr. Dolan, the proposed buyout offer means he can at last rule his own roost. But it also beams the vast financial resources of the nation’s sixth-largest cable provider will no longer be accessible to help smooth over any missteps (“Cablevision spinoff may face storm,” Crain’s, June 27, 2005).
 

kfried001

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Jan 9, 2004
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Scott Greczkowski said:
Cablevision retains advisors to evaluate buyout offer

http://www.newyorkbusiness.com/news.cms?id=11187
July 18, 2005



Cablevision Systems Corp. said it has hired Morgan Stanley and Lehman Brothers to advise it on a proposed buyout offer.

The Bethpage, L.I.-based cable and entertainment company also retained Willkie Farr & Gallagher as legal counsel. Last month, the Dolan family offered to take Cablevision private in a $7.9 billion cash-and-stock deal. Charles Dolan would remain chairman of Cablevision, while his son, Chief Executive James Dolan, would become CEO and chairman of Rainbow Media Holdings, comprising the company’s television networks and sports teams.


Cablevision’s entertainment assets include the New York Knicks, Radio City Music Hall and Madison Square Garden. Its cable networks include American Movie Channel, Independent Film Channel and WE.

A special committee of the board of directors, which includes directors Thomas Reifenheiser and John Ryan, “is at the beginning stages of its evaluation.”

Earlier this year, the Dolan’s battled over the fate of Rainbow’s money-losing satellite business, Voom. The battle came to an end in April after the elder Mr. Dolan ran out of options to keep the business running and Voom began closing.

For the younger Mr. Dolan, the proposed buyout offer means he can at last rule his own roost. But it also beams the vast financial resources of the nation’s sixth-largest cable provider will no longer be accessible to help smooth over any missteps (“Cablevision spinoff may face storm,” Crain’s, June 27, 2005).

I guess Voom programming is doomed with James at the helm. I guess it's back to D* after my year is up.
 

riffjim4069

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Apr 7, 2004
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D* talks a good talk (or leaks a good leak) regarding all the wonderful hardware and services they are bringing to the table this fall, but it ain't gonna happen - they will offer a few additional HD national channels and perhaps a handful of HD LIL and that's it. MPEG-4 and HD Galore won't be widely available until next spring...just when my E*/VOOM HD Pak subscription expired. Lot's of choices coming my/out way next spring.

Back on topic: the Cablevision buyout should concern all VOOM HD Pak subscribers. If D* gets an exclusive FOX HD (Voomlike) group of channels, then I predict VOOM will become an E* exclusive. Is this why we haven't seen VOOM elsewhereanywhere else?
 

kfried001

SatelliteGuys Pro
Jan 9, 2004
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riffjim4069 said:
D* talks a good talk (or leaks a good leak) regarding all the wonderful hardware and services they are bringing to the table this fall, but it ain't gonna happen - they will offer a few additional HD national channels and perhaps a handful of HD LIL and that's it. MPEG-4 and HD Galore won't be widely available until next spring...just when my E*/VOOM HD Pak subscription expired. Lot's of choices coming my/out way next spring.

Back on topic: the Cablevision buyout should concern all VOOM HD Pak subscribers. If D* gets an exclusive FOX HD (Voomlike) group of channels, then I predict VOOM will become an E* exclusive. Is this why we haven't seen VOOM elsewhereanywhere else?
What good is a Voom exclusive if James is not adding new content. I am sick of Monsters, Rave, Rush, Equator...Everything is getting old.

D* has not officially talked about any HD except locals. Rumor has it though that they will add a handfull of channels. (1) Inhd1 & 2, (2) Cinemax, (3) Starz) and (4) TNT, (5) EPSN2 and (6) Outdoor2 Channel HD. In addition to their current HD lineup that is enough to make me switch regardless of the FOx channels. I guess I have just had it with the way VOOM is being run. I was so excited when E* picked them up, only to be let down once again. Time for them to get their act together or just get out of the HD programming area. So much potential, so little vision...
 

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