Malone Steps Down from Cablevision Board

Jun 8, 2005  •  Post A Comment

Liberty Media Chairman John Malone stepped down this week as a director of Cablevision Systems, saying that his remaining on the Cablevision board would be a conflict of interest given Liberty’s and Cablevision’s respective ownership of cable channels.

Mr. Malone joined the Cablevision board in March amid a director shakeup engineered by Cablevision Chairman Charles Dolan. Mr. Malone was one of four board members brought on after Mr. Dolan ousted directors who went against his wishes to continue funding Cablevision’s struggling satellite service Voom.

Around the time he was elected to the Cablevision board, Mr. Malone said he joined at Mr. Dolan’s request. He noted that he and Mr. Dolan had been friends for more than 40 years and Mr. Malone thought he might be able to help quell the board infighting that wound up pitting Mr. Dolan against his son, CEO James Dolan.

The battle over Voom eventually subsided after Charles Dolan, along with the rest of the Cablevision directors, voted in April to shut down the service.