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Dolan family hires top investment banker

Cablevision, the family-controlled telecommunications, media and entertainment company, has hired a top Merrill Lynch executive to work on the company's overall corporate strategy.

Reporting to president and CEO James L Dolan (pictured), Gregg Seibert will join Cablevision as an executive vice president and oversee its treasury and investor relations functions.

The company is highly leveraged to the tune of $11 billion and has a $1.7 billion debt repayment due in April. However, it managed to raise approximately $500 million from investors last week which sent its share price soaring.

Analysts anticipate that the ruling Dolan family will follow a more conservative path than in 2008 when it spent $650 million on acquiring 97% of Newsday Media Group.

James, son of Cablevision founder Charles Dolan, said the business was fortunate to be able to add such a respected and experienced individual as Seibert to the executive team, which he claims is now the preeminent executive team in the media industry.

"Gregg has a substantial knowledge of the cable and telecommunications industries, as well as more than 20 years of experience in developing, executing and managing complex financial transactions and relationships," he said.

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Dolan family acquires Newsday Media Group

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