Newsday Media Group (NMG) has been sold to Patrick Dolan, currently president of News 12 Networks, a division of Cablevision.
Dolan will own a 75 percent stake in NMG and Altice USA will retain a 25 percent stake. As part of the deal, Dolan will be NMG’s president and majority owner and former Cablevision chairman Charles Dolan (Patrick’s father) will serve on NMG’s board of directors.
“My father and I, together with our Altice partners, are deeply committed to preserving the state-of-the-art journalism that Newsday has consistently provided and that has served Long Islanders so well,” said Patrick Dolan, in a statement. “We also look forward to continuing the collaborations with News 12 Networks that have resulted in breakthrough multi-media projects and digital services.”