Dolans Strengthen Cablevision Board

[danielle_s]

This is the most awesome news that I've heard in weeks. Looks like voom will live on, and will be spun off from cablevision and James not only got bitch slapped but if you think these men are going to let him keep his job after all the bs he's been pulling he's got another thing

LONG LIVE VOOM

 

[vurbano]

James is TOAST

 

[danielle_s]

this reminds me of the movie: "the secret of my success" with Michael J. Fox

if you've never seen the movie 5stars, go rent it

 

[rang1995]

James is TOAST

Hope he enjoys the knicks and Rangers--Charles was the Pioneer ,i always said.the man who started manhattan cable,and what was to become HBO

 

[Bruce]

You and fredfa hang on to that Voom Doom hope Cause the SEC isnt going to do a damn thing about it.

I don't give a da*n if it does or does not, but this guy said it better then I could:

Well for one thing James Dolan does not have the final say on this. Even if as reported that it was James that led the battle in the boardroom to stop losing money on VOOM, it was not his decision, it was the board of directors. The board of directors of CVC has the final say, and Dolan Sr is the chairman of this board.

That being said the board of CVC has the obligation to shareholders to find the best way out of this mess. As of now they have voted that shutting down VOOM is the best way out for the shareholders.

Even though Dolan Sr controls more than 50% of the shareholder votes if it came down to a proxy fight, he only has to look at what happened to the Rigases. He cannot be seen as forcing the company to "give" him something. He has to deliver a plan that is better to CVC shareholders than shutting down VOOM.

Everyone sitting around and speculating that James is killing VOOM just to spite his father just has to remember that Dolan Sr can oust James without too much trouble if needed. He would win the proxy fight since he owns more than 50% of the voting shares.

 

[rang1995]

Liberty Media Corporation is a holding company owning interests in a broad range of electronic retailing, media, communications and entertainment businesses classified in four groups: Interactive, Networks, Tech/Ventures and Corporate. Liberty Media's businesses include brands such as QVC, Encore, Starz, Discovery, IAC/InterActiveCorp, and News Corporation.For the nine months ended 9/30/04, revenue totaled $5.47 billion, up from $1.83 billion. Net income totalled $134 million vs. a loss of $317 million. Results reflect the acquisitions of QVC and UGC and higher net gain on dispositions of assets. ----JUST ONE OF THE NEW TEAM

 

[mike123abc]

The current board of directors http://www.cablevision.com/index.jhtml?pageType=corp_gov :

Board of Directors

Charles F. Dolan
Chairman, Cablevision Systems Corp.

James L. Dolan
President and Chief Executive Officer, Cablevision Systems Corp.
Chairman, Madison Square Garden

*William J. Bell
Vice Chairman, Cablevision Systems Corp.

Patrick F. Dolan
President, News 12 Networks

Thomas C. Dolan
Executive Vice President, Cablevision Systems Corp.

Charles D. Ferris
Partner, Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.

Richard H. Hochman
Chairman, Regent Capital Management Corp.

*Sheila A. Mahony
Executive Vice President, Cablevision Systems Corp.

Victor Oristano
Chairman, Alda Limited Partners

*Steven Rattner
Managing Principal, Quadrangle Group LLC

Thomas V. Reifenheiser
Director, Lamar Advertising Company
Director, Mediacom Communications Corp.

Vice Admiral John R. Ryan USN (Ret.)
President, State University of New York Maritime College

*John L. Tatta
Retired President, Cablevision Systems Corporation

Vincent Tese
Director, The Bear Stearns Companies, Inc.
----
The ones with the * by their names are being replaced by this new group. 14 board members, 4 being replaced and one more being added... 1/3 of the board will probably be new on Monday. It will be very interesting to see what press releases come out of the new board on Monday!

 

[vurbano]

I don't give a da*n if it does or does not, but this guy said it better then I could:

Id bet Chuck now has far more than 50% of the votes in his favor. I think its over for James too. These guys will grease their teeth and swallow that spineless putz whole.

 

[rang1995]

2 posts from Yahoo stock boards of CVC..boy this is making me stop watching TV to watch this unfold!!
If anyone thought Chuck Dolan was admitting defeat in front of his son. He just replaced 4 Board members and is about to consolidate control at the next Board meeting by electing more of his old time cronies....
"HE'S DETERMINED TO RUN THIS THING INTO THE GROUND IN ORDER TO SPITE HIS SON AND ANYBODY SANE ENOUGH TO OPPOSE HIS SATELLITE FANTASY.

JOHN MALONE AND LEONARD TOW ON YOUR BOARD ARE THE FRIGGIN DEATH KNELL. NEVER BEFORE HAVE SO MANY SHAREHOLDER UNFRIENDLY BOARD MEMBERS ASSEMBLED IN SUCH STRENGTH TO SCREW YOU ALL.

WITH MALONE ON THE BOARD, THE PROSPECT OF SELLING RAINBOW TO LIBERTY FOR ANY REAL MONEY (OR AT ALL)GOES OUT THE WINDOW.

MALONE WILL ALLOW CHUCK TO MILK CVC TO SUPPORT VOOM, WHILE HE TRIES TO WEAKEN CVC AND TAKE-UNDER THE RAINBOW ASSETS.

A SAD DAY IN CORPORATE GOVERNANCE. SHAME ON CHUCK DOLAN."

remember this isn't me it's upset CVC investors ----they want the worst for VOOM-but take it from me Chuck Dolan knows what he is doing --VOOM will be around BUT not as we know it..there seems to be alot more to these guys vision then DBS

 

[Bruce]

John Malone's Liberty Media owns 98% of home shopping network QVC, now soon-Home Shopping in HD, only on Voom.

 

[Bruce]

remember this isn't me it's upset CVC investors ----they want the worst for VOOM-but take it from me Chuck Dolan knows what he is doing --VOOM will be around BUT not as we know it..there seems to be alot more to these guys vision then DBS

Like I said, get ready for the lawsuits.

 

[vurbano]

No lawsuits. The funding is in place to buy it.

 

[vurbano]

Like I said, get ready for the lawsuits.

My how you want this to fail

 

[vurbano]

I don't give a da*n if it does or does not

Then why are you here? Go watch your comcast cable TV you keep advertising for and run your "business"

 

[Lucky]

Oh baby, this gets better and better. Am I correct in thinking Chuck Dolan is now stacking the board in his favor to approve the VOOm sale ? I think that is what this means, right ?

 

[1080iBeVuMin]

The only thing more perplexing than the Voom story is why the bleep these trolls waste everybody's time here when nobody wants to read their posts.

Why don't you guys go watch your SD channels?

Freaking unbelievable.

 

[Ty2083]

I would doubt that there will be any lawsuits or, for that matter, trouble with the SEC. If you think about it, the new board members will probably will merely vote to allow Chuck to buy VOOM assets and liabilities like he wanted to do all along. As long as CVC is out from under the money drain Voom represents and the financial liabilities likely to be encured from it, then the SEC will be happy as will the shareholders. VOOM will then be a private company, CVC will be able to grow or not as they see fit and will probably be in a better financial position because of it. Will the SEC investigate? Probably, but they are not likely to do anything as long as both parties gain from the deal.

 

[vurbano]

The only thing more perplexing than the Voom story is why the bleep these trolls waste everybody's time here when nobody wants to read their posts.

Why don't you guys go watch your SD channels?

Freaking unbelievable.

Amen brother. Wait around and bruce will tell you how voom downrezzes all of their channels and deprives them of adequate bitrates. He might even tell you about D*'s nonexistant free HD reciever offer.Then he will suggest Comcast cable. LOL

 

[danielle_s]

I guess if JL is a racoon, then bruce must be the rat, and gadget rick must be goffer and mike123 must be the mouse

 

[rtt2]

Cablevision chairman says board revamped
Wed Mar 2, 2005 08:56 PM ET

NEW YORK, March 2 (Reuters) - Cablevision Systems Corp. (CVC.N: Quote, Profile, Research) Chairman Charles Dolan said on Wednesday that holders of a majority of the company's class B common stock have elected four new members to the cable operator's board.

Dolan also said the board would be asked at its March 7 meeting to increase its size so that the class B holders may elect Brian Sweeney, senior vice president for e-media at Cablevision, to fill a new seat. Sweeney is Dolan's son-in-law.

Dolan said the four new board members are Rand Araskog, former chairman, chief executive and president of ITT Corp.; Frank Biondi Jr., former president and CEO of Viacom Inc. (VIAb.N: Quote, Profile, Research) and former chairman and CEO of Universal Studios Inc. and Home Box Office Inc.; Dr. John Malone, chairman of Liberty Media Corp. (L.N: Quote, Profile, Research) ; and Dr. Leonard Tow, former chairman and CEO of Citizens Communications Co. (CZN.N: Quote, Profile, Research) and CEO of Century Communications Corp.

They replace William Bell and Sheila Mahony, who both recently retired as officers, Steven Rattner and the late John Tatta, Dolan said in a statement.

The new directors will serve until the next annual meeting, slated for May 19, and will then be renominated for an additional term, Dolan said.

Dolan said he also notified Cablevision that the class B holders would exercise their rights to nominate and elect 75 percent of the company's directors at the next annual meeting.