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Media

Cablevision (CVC): The Dolans Were Right

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By Douglas A. McIntyre Published
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It turns out that investors may have made a mistake by turning their noses up at the Dolan family’s $30 per share offer for Cablevision. Citi cut the company’s shares to a "sell" and dropped the price target to $27. Apparently the bank does not believe that Time Warner Cable or any other company is going to come in with a competing bid. No, it is just the company all by its lonesome.

If Citi is right, most of Wall St. and the Cablevision special board committee that rejected the Dolan’s offer will look like buffoons. No other company made an offer when the Dolan’s made their first, lower bid. So, why would anyone go after the company at a higher price?

Buffoons, indeed.

Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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