May 12, 2008 |
Tribune Co. signed a deal Sunday to sell Long Island newspaper Newsday to Cablevision Systems Corp. for $650 million. The deal would give Tribune $630 million in cash to pay down its nearly $13-billion debt. Two-thirds of that was incurred in December's $8.2-billion buyout of the company, which was orchestrated by Chicago real estate baron Sam Zell. Tribune owns the Los Angeles Times, KTLA-TV Channel 5, the Chicago Tribune and other media properties around the country. After the transaction, Cablevision would hold 97% of the equity and Tribune 3%, two people familiar with the deal said.
May 11, 2008 |
Rupert Murdoch's News Corp., once the front-runner in bidding for Tribune Co.'s Newsday, has withdrawn its $580-million offer for the Long Island, N.Y., daily newspaper, a News Corp. spokeswoman said Saturday. Cablevision Systems Corp., a Long Island-based cable TV operator, had topped Murdoch's offer last month with a $650-million bid that News Corp. was unwilling to match or exceed. "It became uneconomical to continue," News Corp. spokeswoman Teri Everett said.
May 8, 2008 |
Cablevision Systems Corp. said Wednesday that it was wading deeper into the cable programming business by buying the Sundance Channel from its famous co-founder, Robert Redford, and two media companies for $496 million. The move surprised some analysts because Bethpage, N.Y.-based Cablevision, through its Rainbow Media Holdings subsidiary, already owns two movie channels -- AMC and the Independent Film Channel -- in addition to WE tv, a channel aimed at women. Some investors had wanted the family-controlled cable systems operator to use its cash to buy back shares.
October 25, 2007 |
The Dolan family, which built Cablevision Systems Corp. into one of the most successful cable TV providers in the country, is going to have to keep dealing with public stockholders for the foreseeable future. Shareholders on Wednesday rejected a $10.6-billion bid from the Dolans to take Cablevision private, clearly seeing the company as more valuable than the price the Dolans had agreed to pay.
May 3, 2007 |
Cablevision Systems Corp., a New York-area cable TV provider that also owns Madison Square Garden, said Wednesday that it had agreed to be taken private by the Dolan family, the company's controlling shareholders, in a deal worth about $10.6 billion. It was the Dolans' third attempt to take the company private in recent years, the first two having been rejected as inadequate by a two-person committee of independent directors on Cablevision's board.
March 24, 2007 |
Cablevision Systems Corp. has lost a legal battle against several Hollywood studios and television networks to introduce a network-based digital video recorder service to its subscribers. The cable operator said late Thursday that it was considering an appeal against the ruling by U.S. District Judge Denny Chin in New York. Cablevision was sued last May by several Hollywood studios and television networks, including those owned by Time Warner Inc., News Corp., CBS Corp. and Walt Disney Co.
January 17, 2007 |
An independent committee of directors of Cablevision Systems Corp., a New York-area cable TV provider, on Tuesday rejected an offer from the company's controlling shareholders to take the firm private. In a letter to James Dolan, Cablevision's chief executive, and his father, Charles, the chairman, the two-person committee said the Dolans' latest offer of $30 a share, or $8.