Cablevision Shareholders Want Money, not Newspapers
Cablevision, which recently purchased Newsday, announced that it may be spinning off its Madison Square Garden sports unit or its Rainbow Media TV networks, and could issue dividends at the request of its shareholders.
“We’ve wanted Jim Dolan to stop doing deals and share with shareholders,” Mario Gabelli, whose Gamco Investors Inc. owns 8.3 percent of the company, said.
After falling 33 percent since last July, shares were up 8.8 percent yesterday.
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