Cablevision COO Rutledge’s Resignation Spurs Takeover Talk

Cablevision Systems Corp. may try to go private or seek a buyer following the resignation of Chief Operating Officer Tom Rutledge, analysts said.

Rutledge announced his exit yesterday, effective later this month. The loss of what Sanford C. Bernstein’s Craig Moffett calls “the hands-down best executive in the cable business” led to downgrades of Cablevision shares by Bank of America Corp., Miller Tabak & Co. and ISI Group. Cablevision fell 8.5 percent to $12.75 at the New York close after falling as much as 17 percent earlier in the day.