Largest Shareholder Rejects Cablevision Buyout Offer
Oct 18, 2007, 8:00 AM
The Dolan family wants Cablevision, but the largest shareholder, ClearBridge Advisors, which owns 13.6%, says the offer--$10.6 billion--isn't enough. The New York Times reports that the three largest shareholders have now announced their opposition to the deal. The buyout needs the approval of a majority of shareholders--and the Dolans can't participate. The tally is scheduled for Oct. 24.