News Journal

Cablevision Systems Corp. rejects $10.5 billion

The Dolan family had given a rate of $36.26 per share and a total of $10.5 billion for the Cablevision Systems Corp. that was rejected by the share holders. Earlier also the Dolan family that included Chairman Charles Dolan and his son Chief Executive James Dolan have been bidding for the company.

The share holders voted against the bid as the family is not compensating for the assets of the Cablevision Systems Corp and also not giving the expected growth benefits.