Cablevision (CVC): Big Shareholder May Block Buy-Out

October 5, 2007 by Douglas A. McIntyre

Uber fund manager Mario Gabelli owns a big piece of Cablevision (CVC) which is being taken private by the founding Dolan family. The problem is that Gabelli thinks the $36.26 price being proposed is $15 too low.

"Part of us says take the money and run because of what the world’s going through with regard to the [lending-market] crisis," Gabelli told The New Post. "But it could be worth $65 to $70 a share in five years."

Cablevision is incorporated in Delaware, and under that state’s law, Gabelli could ask a court to place a value on the shares.

Another buy-out deal that could fall apart.

Douglas A. McIntyre