Showtime

5 August 2008 By Lauren Silva

The cable company s controlling shareholders say they re exploring options to help create value. If they were serious, a sale of the assets could give shareholders a juicy premium. Unfortunately, the Dolans aren’t likely to part with their toys anytime soon.

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Cablevision Systems said that its board of directors has authorised the company's management to explore strategic options for bringing the market value of the company's common stock more closely in line with the underlying operating performance of the company. As part of the strategic review, the company will explore the spinoff of one or more businesses and other potential strategies. Cablevision president and chief executive James Dolan said, We are highly confident of the strength of our underlying businesses and our operating performance. As we indicated last week we have 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. Cablevision has two classes of stock. One, with supercharged voting rights, puts the Dolan family in control over holders of ordinary stock, though they are entitled to most of its economics.

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