Days After Buying ‘Newsday,’ Cablevision ‘Exploring Alternatives’

By: Mark Fitzgerald

Just two days after completing its $650 million acquisition of Newsday, Cablevision Systems Corp. said Thursday it intends to “actively explore alternatives” in view of a stock price that has slumped about 40% in the past year.

Cablevision CEO James Dolan said in a conference call the company wants to close the “value gap” between its operating performance and the stock price.

Among the alternatives, analysts speculated, was taking Cablevision private, something Dolan and his father Charles Dolan have tried twice unsuccessfully.

Tuesday Cablevision completed its purchase of a 97% stake in Newsday from Tribune Co., which is retaining the minority stake.

RSS
Follow by Email
Facebook
Facebook
Twitter
Visit Us
LinkedIn

Leave a Reply

Your email address will not be published. Required fields are marked *