How to Save $46 Million at Cablevision: Take Out the Dolans
- Drahi's Altice plans to implement performance-based incentives
- CEO Goei: Top ten execs will probably leave after takeover
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The French billionaire who’s agreed to buy Cablevision Systems Corp. for $17.7 billion plans to institute a performance-based culture at a U.S. company that pays its executives well -- and mostly in cash.
After Patrick Drahi’s Altice NV takes control of Cablevision, the New York-area cable operator’s top 10 executives will probably leave, according to Altice Chief Executive Officer Dexter Goei. That would eliminate three members of Cablevision’s founding Dolan family -- compensated a combined $46 million last year -- and their closest lieutenants from the management team.