Friday, May 2, 2008
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.