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December 19, 2011

The future of US family business Cablevision appears uncertain, following the unexpected departure of a important staff member and a major fall in share price. 

The future of US family business Cablevision appears uncertain, following the unexpected departure of a important staff member and a major fall in share price.

Tom Rutledge, chief operating officer, announced last week that he would leave the company, which is controlled by the Dolan family, sparking an 8.5% fall in share price on Friday (16 December).

August 26, 2010

Stock buybacks have returned to prominence of late, but what are the reasons for family businesses to go down this avenue? Darrell Delamaide invesigates

After last year's dramatic decline, stock buybacks have surged in 2010 as companies bank on the fact that their stock is a good investment. It is also a way to return money to shareholders, because it juices earnings per share by reducing the denominator, which, all other things being equal, will then lift the share price. At the very least it can prevent dilution when shares are distributed for stock options or other purposes and it is this aspect of stock buybacks that is particularly important in family-controlled companies.

August 26, 2010

Marc Smith analyses the trends

Just a few years ago they were analogous to the gluttonous charicatures in a Hogarth painting, but M&A deals have been on the equivalent of a corporate Atkins diet of late.

The biggest deal this year involves a family-controlled Indian business in the telecommunications sector with a price tag of $11 billion.

In sharp contrast, when we last covered the family business M&A story in the summer of 2007, the largest deal was a joint $96 billion bid for ABN Amro by the Botin family-controlled Santander group in partnership with RBS and Fortis.

August 25, 2010

The M&A market has been transformed over the last few years as the mega deals of the boom years have given way to more modest strategic transactions. Here are the year's largest M&A deals involving family firms

01 $11 billion Reliance Infratel's merger with GTL Infrastructure

June 15, 2010

Cablevision Systems Corporation, the family-controlled media, entertainment and sports company, has announced it will acquire Bresnan Communications from Providence Equity Partners in a deal worth $1.4 billion.

Cablevision Systems Corporation, the family-controlled media, entertainment and sports company, has announced it will acquire Bresnan Communications from Providence Equity Partners in a deal worth $1.4 billion.

In a statement released yesterday, Cablevision said it would finance the deal by borrowing $1 billion in non-recourse debt with the company providing the further $400 million.

August 11, 2009

Cablevision Systems Corporation, the family-controlled media, entertainment and sports company, is to spin-off its Madison Square Garden business by the end of 2009.

Cablevision Systems Corporation, the family-controlled media, entertainment and sports company, is to spin-off its Madison Square Garden business by the end of 2009. The move is an attempt to unlock the value of the company and allow the separate businesses to develop individually.
 

May 12, 2009

Cablevision, the US-based media and entertainment company owned by the Dolan family, has quashed rumours it is looking to spin off parts of its vast empire.

Cablevision, the US-based media and entertainment company owned by the Dolan family, has quashed rumours it is looking to spin off parts of its vast empire.

Last week, the company announced that its board of directors had authorised management to explore the possibility of spinning off the Madison Square Garden business, which includes its sports teams the New York Knicks, Rangers and Liberty. Cablevision's share price soared nearly 20% on the news.

January 15, 2009

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.

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.

August 18, 2008

Cablevision founder and chief executive Jim Dolan has caved in to the demands of major shareholders, agreeing to initiate quarterly dividends on the company’s stocks.

Cablevision founder and chief executive Jim Dolan (pictured) has caved in to the demands of major shareholders, agreeing to initiate quarterly dividends on the company's stocks.

The move comes after a group of investors, led by Mario Gabelli of Gamco Investors Inc, pressured the cable TV and media company to take action after concerns over the value of the company's share price.

Analysts believe the market value of Cablevision's common stock needs to be closer in line with the underlying operating performance of the company.

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