Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Friday, May 2, 2008

"Dolan Discount"?

Another example that it's tough being minority shareholders in a family-controlled public corporation.  Last fall the public Cablevision shareholders rejected the Dolan family's bid to buy them out at $36.26.  This year Cablevision's stock has declined, while the stock of its two competitors -- Comcast and Time Warner -- has risen.  Investors worry about CEO James Dolan's acquisition plans, including a bid for Newsday, the Long Island newspaper.  Some think he is punishing the company for rejecting the offer; according to Dolan, the shareholders gave him a mandate to grow the company.  WSJ, 'Dolan Discount' Affliction.

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