Cablevision Shareholders Reject Privatization Bid

Shareholders in Cablevision Systems, which serves 3.1 million households in the New York metropolitan area, rejected a $10.6 billion bid from the Dolan Family to privatize the company. The Dolan family founded Cablevision nearly 35 years ago. Their bid, which was initially announced in May, was backed by Merrill Lynch & Co., Bear, Stearns & Co. Inc., and Bank of America.

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