Cablevision privatisation slowed

The Dolan family's effort to take Cablevision Systems private is being opposed by a large shareholder and a major proxy advisory firm. Mario Gabelli, a longtime media investor, said that the funds he controls would vote against the proposed transaction at a special shareholders' meeting scheduled for October 24th. Gabelli said he believed his clients were “best served by staying the course in Cablevision.”

ISS Governance Service, a firm that advises institutional investors on how to vote their shares, sent its clients a report advising them to vote against the deal, noting that several Wall Street analysts put the value of Cablevision well above the Dolans' price of $36.26 (E25.60) a share.

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