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May 02, 2007
Dolans Take Cablevision Private. The Street Thinks They Spent Too Much.
Having founded Cablevision 35 years back, the Dolan Family group has bought 100% of the public interest in Cablevision for $36.26 per share in cash. The transaction implies a total enterprise value of approximately $22 billion. By taking the company private, the Dolans are paying a very big premium over the company's current public market valuation.
Bernstein Research says there is "a yawning disconnect between public and private market valuations for cable assets.” The Street is worried about the ability for cables to compete with telcos like Verizon.
Posted by Paul at May 2, 2007 07:29 PM
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