Will Time Warner Go After Cablevision?

Charles and James Dolan's low-ball bid to take Cablevision private opens the door to competing offers

The father-and-son team of Charles and James Dolan, who control one of the most lucrative cable companies in the U.S. in Cablevision, is nothing if not unpredictable. In the three months since the pair first made a $27-per-share buyback offer to take their company private, they have stood by silently as investors pushed Cablevision (CVC) shares to $29. Clearly, the Dolans had been looking to get a bargain, but the robust stock market made their offer look almost ridiculous by yearend. In fact, some analysts suggested that the bid had the effect of depressing shares—a so-called Dolan Discount—and that they could have been trading even higher.

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