Jim Dolan: Nothing in the works to take Cablevision private
Cablevision Chief Executive Jim Dolan said at a media conference this morning that his family, which has a controlling stake in Cablevision, doesn’t have any immediate plans to take the company private, but he didn’t rule out another attempt in the future.
According to Reuters, Dolan said Cablevision would focus on its growth strategy and on paying down its $1.7 billion debt. The Dolan family’s attempt to take the company private last year was met with vigorous opposition from some of Cablevision’s largest investors outside of the family.
Speaking at the Goldman Sachs Communacopia Conference in New York, Dolan said the company might sell off some of its assets, but the current banking crisis could make the sales of assets difficult.
Cablevision, the nation’s fifth-largest cable operator with more than three million subscribers in the New York metropolitan area, also owns AMC, the Sundance Channel, Madison Square Garden and the New York Knicks basketball team.
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