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Cablevision (CVC) this morning said its board has authorized management to explore options for boosting its stock price. Options include buying back stock, paying regular dividends, spinning off parts of the company “and other potential strategies.” Of course, one “potential strategy” they didn’t mention would be for the company’s controlling shareholder, the Dolan family, to make a third attempt to take CVC private. Last year, shareholders rejected a $36.26 a share offer to go private as too low. In a statement, CEO James Dolan repeated a view he expressed last week in the company’s post-earnings conference call that Cablevision has “a strong desire to close the value gap between our operating performance and the market value of our shares and, therefore, we will be actively looking at options to accomplish that.” (I suppose... [read full story]
