Dolans Strengthen Cablevision Board
JERICHO, N.Y., March 2 /PRNewswire/ -- Charles F. Dolan announced today
that holders of a majority of the Class B common stock of Cablevision Systems
Corporation have elected Rand Araskog, Frank J. Biondi, Jr., Dr. John Malone
and Dr. Leonard Tow to Cablevision's board of directors. The new directors
will replace William J. Bell and Sheila Mahony, both of whom recently retired
as officers of Cablevision, Steven Rattner and the late John Tatta. The new
directors are expected to serve until the next annual meeting of stockholders,
currently scheduled for May 19, 2005, and then to be re-nominated for an
additional term.
Mr. Dolan also announced that the board will be asked at its next meeting
on March 7, to increase its size so that the Class B stockholders may elect
Brian Sweeney to fill a new seat. Mr. Sweeney has been with Cablevision for 12
years and is currently a Senior Vice-President for e-media with responsibility
for websites and interactive television services. He is a son-in-law of Mr.
Dolan, the Chairman of Cablevision.
Said Chairman Charles Dolan, "In light of the extensive industry
experience and impressive qualifications of these individuals, the Class B
stockholders believe that they will be very well-positioned to make
significant contributions to the long-term success of the company."
Mr. Dolan has also notified Cablevision that the Class B stockholders will
exercise their rights under Cablevision's certificate of incorporation to
nominate and elect 75% of the company's directors at the next annual meeting
of stockholders.
Additional information with respect to each of the new directors follows:
Rand Araskog is a former Chairman, CEO and President of ITT Corporation
and current or former director of several companies, including Shell Oil
Companies, Dow Jones & Company, Inc., and Hartford Financial Services Group.
Frank J. Biondi, Jr. is a former President and CEO of Viacom, Inc., former
Chairman and CEO of Universal Studios, Inc., former Chairman and CEO of Home
Box Office, Inc. and a current director of several companies, including The
Bank of New York Company, Inc., Hasbro, Inc., Harrah's Entertainment Inc., and
Amgen, Inc.
Dr. John C. Malone is Chairman of Liberty Media Corporation, a position he
has held since 1990. From 1996 to March, 1999 when Tele-Communications, Inc.
merged with AT&T Corp., he was also Chairman and Chief Executive Officer of
TCI. He currently serves on the board of Directors for the Bank of New York,
the CATO Institute, Discovery Communications, Inc., Liberty Media
International, UnitedGlobalCom, Inc. and The Nature Conservancy.
Dr. Leonard Tow is former chairman and chief executive officer of Citizens
Communications and chief executive officer of Century Communications Corp., a
cable television company. Dr. Tow is also a former senior vice president,
corporate development and planning for Teleprompter Corp. and a management
consultant for Touche Ross & Company.
SOURCE Charles F. Dolan
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=109&STORY=/www/story/03-02-2005/0003112886&EDATE=
JERICHO, N.Y., March 2 /PRNewswire/ -- Charles F. Dolan announced today
that holders of a majority of the Class B common stock of Cablevision Systems
Corporation have elected Rand Araskog, Frank J. Biondi, Jr., Dr. John Malone
and Dr. Leonard Tow to Cablevision's board of directors. The new directors
will replace William J. Bell and Sheila Mahony, both of whom recently retired
as officers of Cablevision, Steven Rattner and the late John Tatta. The new
directors are expected to serve until the next annual meeting of stockholders,
currently scheduled for May 19, 2005, and then to be re-nominated for an
additional term.
Mr. Dolan also announced that the board will be asked at its next meeting
on March 7, to increase its size so that the Class B stockholders may elect
Brian Sweeney to fill a new seat. Mr. Sweeney has been with Cablevision for 12
years and is currently a Senior Vice-President for e-media with responsibility
for websites and interactive television services. He is a son-in-law of Mr.
Dolan, the Chairman of Cablevision.
Said Chairman Charles Dolan, "In light of the extensive industry
experience and impressive qualifications of these individuals, the Class B
stockholders believe that they will be very well-positioned to make
significant contributions to the long-term success of the company."
Mr. Dolan has also notified Cablevision that the Class B stockholders will
exercise their rights under Cablevision's certificate of incorporation to
nominate and elect 75% of the company's directors at the next annual meeting
of stockholders.
Additional information with respect to each of the new directors follows:
Rand Araskog is a former Chairman, CEO and President of ITT Corporation
and current or former director of several companies, including Shell Oil
Companies, Dow Jones & Company, Inc., and Hartford Financial Services Group.
Frank J. Biondi, Jr. is a former President and CEO of Viacom, Inc., former
Chairman and CEO of Universal Studios, Inc., former Chairman and CEO of Home
Box Office, Inc. and a current director of several companies, including The
Bank of New York Company, Inc., Hasbro, Inc., Harrah's Entertainment Inc., and
Amgen, Inc.
Dr. John C. Malone is Chairman of Liberty Media Corporation, a position he
has held since 1990. From 1996 to March, 1999 when Tele-Communications, Inc.
merged with AT&T Corp., he was also Chairman and Chief Executive Officer of
TCI. He currently serves on the board of Directors for the Bank of New York,
the CATO Institute, Discovery Communications, Inc., Liberty Media
International, UnitedGlobalCom, Inc. and The Nature Conservancy.
Dr. Leonard Tow is former chairman and chief executive officer of Citizens
Communications and chief executive officer of Century Communications Corp., a
cable television company. Dr. Tow is also a former senior vice president,
corporate development and planning for Teleprompter Corp. and a management
consultant for Touche Ross & Company.
SOURCE Charles F. Dolan
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=109&STORY=/www/story/03-02-2005/0003112886&EDATE=