James Dolan to Undergo Heart Surgery

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Cablevision Systems said Monday that CEO James Dolan was hospitalized Saturday and expected to undergo heart bypass surgery that day.

The cable operator declined to provide further details on what led to Mr. Dolan's hospitalization, but said he was expected to recover completely.

Wall Street had little reaction to the news, in part because Mr. Dolan, despite being the company's CEO, has more day-to-day involvement running Madison Square Garden and Cablevision's sports teams, including the New York Knicks. The company's core cable operation, considered the best-run and most profitable in the country by many Wall Street analysts, is managed by Cablevision President and Chief Operating Officer Tom Rutledge.

Shares in Cablevision slipped a penny to $28.74 apiece in midday trading.

Mr. Dolan's hospitalization comes at a time when Cablevision is seeking to remake itself after more than two years of controversy. The company is presently in the process of taking its cable assets private, while at the same time spinning off its Rainbow Media unit to the public.

Several months ago Mr. Dolan, 50, was on one side of a boardroom showdown involving the fate of a now-defunct satellite television venture. Mr. Dolan had pushed to shut down the service, while his father, Chairman Charles Dolan, sought to keep it alive. After a fight that reportedly created a wedge between father and son, they agreed to shut down the service.
 

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Dolan Doing Well After Heart Surgery

Cablevision Systems CEO James Dolan underwent successful heart bypass surgery Monday, the company said in a statement released late Monday:


“Following his admission to the hospital over the weekend, Cablevision President and CEO James Dolan underwent successful heart bypass surgery this afternoon.The doctors report that there were no unusual occurrences and that Mr. Dolan is currently in the recovery phase.Moreover, the doctors expect a full and complete recovery and the resumption of normal activity.The company will have no further comment at this time.”


Sensing a problem, the 50-year-old executive drove himself to a hospital Saturday.

Dolan and his father, Chairman Chuck Dolan, are in the midst of trying to take Cablevision private, keep the system operations for themselves, and spin networks unit Rainbow Media back out to the public.
 

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