US Cablevison Family Raises Buyout Bid

16 January 2007

BETHPAGE, New York: One-time feuding media dynasty, the Dolans, have upped the ante once more in a determined effort to put their Cablevision Systems company back into private hands.

Chairman Charles and ceo son James have now offered $8.9 billion (€6.87bn; £4.5bn) to buy all outstanding shares, up from a $7.9bn bid last fall [WARC News: 10-Oct-06]. They describe the latest offer, which runs out Wednesday, as "best and final".

The family says it has no intention of selling the company or its controlling interest, whether or not it goes private and says it is prepared to discuss "contractual provisions" to this effect.

Some industry experts have pointed out Cablevision's potential as an attractive takeover target for bigger rival Time Warner Cable.

Data sourced from Financial Times online; additional content by WARC staff