Dolan Family Group Increases Offer to Acquire 100% of Public Interest in Cablevision

[Jimmy Dean]

Increased Offer Price Also Represents Highest per Subscriber Valuation in Cable Industry Since 2000
Revised Proposal Represents Dolan Family Group's Best and Final Offer

Charles F. and James L. Dolan, on behalf of members of the Dolan family, today announced that they have submitted a revised proposal to purchase 100 percent of the outstanding publicly held shares of common stock of Cablevision Systems Corporation.

In its letter, the Dolan Family Group said that the revised proposal represents its "best and final offer." Noting that "the on-going uncertainty created by this process is potentially harmful to the Company" and that the Dolan Family Group understands the Special Transaction Committee does not need any further information to make a decision, the letter requested a response to the increased offer as soon as possible. The offer will expire at the close of business on January 17, 2007.

http://biz.yahoo.com/bw/070112/20070112005263.html?.v=1

 

[cforrest]

REJECTED!!!

Cablevision Board Committee
Rejects Dolan Buyout Offer

By PETER GRANT
January 16, 2007 8:52 p.m.

Cablevision System Corp.'s ruling Dolan family for a second time failed in an attempt to take the company private, a sign that shareholders and directors are no longer standing by as managements and private-equity firms buy up whole patches of the global economy.

A special committee of Cablevision's board last night rejected the Dolans' $8.9 billion buyout offer stating the price was too low given the company's prospects. Cablevision has "a leading presence in some of the country's most attractive markets," the committee said in a letter to the Dolans. "The company also is well positioned to address the competitive challenges that exist."

http://online.wsj.com/article/SB116899633653878297.html