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Cablevision Rejects Dolan Buyout

Cablevision Rejects Dolan Buyout (WSJ)
An $8.9 billion attempt by Cablevision Systems Corp.'s ruling Dolan family to take the company private collapsed in a dramatic sign that shareholders and directors are no longer standing by as managements and private-equity firms buy up whole patches of the global economy.

A special committee of Cablevision's board last night rejected the Dolans' $30-a-share offer as "inadequate" given the value of its cable system, which serves three million customers mostly living in affluent environs of the New York City region.