Deals
Patrick Dolan Acquires Majority Stake in Newsday From Altice
- Agreement keeps ownership of Long Island newspaper in family
- Altice USA retains 25 percent stake in Newsday Media Group
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An entity led by Patrick Dolan, whose family owned Newsday for almost a decade, acquired a 75 percent stake in the daily Long Island newspaper from Altice USA, the cable company that inherited the publication with its purchase of Cablevision Systems Corp.
Altice will keep a 25 percent interest in Newsday Media Group, which also owns the free newspaper amNewYork, according to a statement Thursday. Terms weren’t given.