Tuesday marked the first day in a half-century that the Dolan family was out of the pay-TV business, as Netherlands-based Altice completed its acquisition of Cablevision, The New York Post reports.
“Charles Dolan founded Cablevision in 1973 and, with his family, used the money from pay-TV to grow the Bethpage, NY, company into a cable and entertainment power,” the story reports. “The Dolan family eventually oversaw the acquisition of AMC Networks and Madison Square Garden — each of which in recent years has been spun off into its own publicly traded entity.”
Dolan was a pioneer in the cable business who also founded Sterling Manhattan Cable and Home Box Office.
Altice agreed in September to acquire Cablevision for $17.7 billion, with the deal clearing its last regulatory hurdle last week, the report notes.