For quite some time, the Dolans have seemed to make a living off upending the conventional wisdom about what Cablevision would and should do. Buying Madison Square Garden, professional teams, a string of movie theaters--all were met with consternation.
Now the Dolans are back in the high-profile arena, closing in on taking over Newsday. So Tim Arango and Richard Perez-Pena, reporting for the New York Times, have combed through the record and the community of financial analysts. They come up with plenty of wondering: "Not for the first time, and probably not for the last, Wall Street is wondering just what the Dolans are thinking. Like many actions taken by the Dolans, the family that controls Cablevision Systems, based on Long Island, and a host of New York properties like Madison Square Garden, the Knicks and the Rangers, their recent bid to buy Newsday from the Tribune Company for $650 million has resulted in a collective head scratch."
The reporters add: "Most analysts question the rationale for buying Newsday and had hoped Cablevision’s quest failed. But when it comes to the Dolans, the only thing that is predictable about them is that they are unpredictable."
Cablevision remains a public company despite the Dolans' efforts to take it private in recent years. Still, note many analysts, the Dolans continue to act as if it were their private domain.
--Noel Rubinton
Comments (3)
they're taking over the world!
They will do anything to make sure cable rates will go up
We can only hope the Dolan's won't do to Newsday what they have done to the Knicks and Madison Square Garden. How long before the price of Newsday goes up.
I will be canceling my subscription.