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sambista
Joined: 25 Sep 2004
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Location: way station of life
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 Posted: 01/21/05 4:00 pm ::: oh, those dueling dolans |
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Cablevision Sells Satellite to EchoStar
Ending a father-son boardroom battle, Cablevision Systems Corporation dismantled its struggling satellite business last night by selling its satellite to EchoStar Communications for $200 million in cash.
The sale comes just two days after Cablevision's 78-year-old founder, Charles F. Dolan, lost a showdown with his son James L. Dolan, the company's 49-year-old chief executive, over the fate of the satellite business.
The younger Dolan and the board voted to sell the satellite business, which had been criticized by investors as a black hole, despite vehement opposition from his father, who has heralded the business as the future of the company.
The family rift has renewed speculation among some on Wall Street that the Dolans could be driven to put Cablevision up for sale.
The schism became so great that there were times when the elder Dolan stopped speaking to his son, according to executives close to the company.
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Besides their own infighting, Cablevision and the Dolans are enmeshed in a public fight over the construction of the proposed $1.4 billion football stadium on the West Side of Manhattan. Cablevision, in addition to operating a cable television service, owns Madison Square Garden and Radio City Music Hall, and it views the stadium as competition. It has spent millions of dollars in advertising to oppose it and is also part of a lawsuit against the city seeking to block the building's development.
http://www.nytimes.com/2005/01/21/business/media/21voom.html?oref=login
is it any wonder the liberty can't get right?
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KeiraNY
Joined: 19 Nov 2004
Posts: 12683
Location: New York, NY
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| Posted: 01/21/05 4:43 pm ::: Re: oh, those dueling dolans |
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It's AMAZING how much money they've put into advertising against the West Side Stadium. I'm inclined to side against them just in principle. Yes, they make a very persuasive point about the city building a stadium when schools are falling apart, fire houses closing, etc, but they're being VERY greedy.
I was glad "Fireman Ed" was on one of those commercials in FAVOR of building the stadium.
I think it'll be good for NY. It will not only be a stadium, but it'll have restaurants & shops. Besides, it's not THAT big a competition against the hideous Knicks! Although if they keep tanking the way they are, there'll be NO team (figuratively speaking).
| sebibb wrote: |
Cablevision Sells Satellite to EchoStar
Ending a father-son boardroom battle, Cablevision Systems Corporation dismantled its struggling satellite business last night by selling its satellite to EchoStar Communications for $200 million in cash.
The sale comes just two days after Cablevision's 78-year-old founder, Charles F. Dolan, lost a showdown with his son James L. Dolan, the company's 49-year-old chief executive, over the fate of the satellite business.
The younger Dolan and the board voted to sell the satellite business, which had been criticized by investors as a black hole, despite vehement opposition from his father, who has heralded the business as the future of the company.
The family rift has renewed speculation among some on Wall Street that the Dolans could be driven to put Cablevision up for sale.
The schism became so great that there were times when the elder Dolan stopped speaking to his son, according to executives close to the company.
-------
Besides their own infighting, Cablevision and the Dolans are enmeshed in a public fight over the construction of the proposed $1.4 billion football stadium on the West Side of Manhattan. Cablevision, in addition to operating a cable television service, owns Madison Square Garden and Radio City Music Hall, and it views the stadium as competition. It has spent millions of dollars in advertising to oppose it and is also part of a lawsuit against the city seeking to block the building's development.
http://www.nytimes.com/2005/01/21/business/media/21voom.html?oref=login
is it any wonder the liberty can't get right? |
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BCBG25
Joined: 23 Sep 2004
Posts: 20112
Location: Sampa
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| Posted: 01/22/05 1:12 am ::: |
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| I so want this to become the War of the Roses so they can sell the Garden, Knicks, Libs and I don't really care about the Rangers lol...
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sambista
Joined: 25 Sep 2004
Posts: 16951
Location: way station of life
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| Posted: 01/22/05 8:32 am ::: |
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be careful what you wish for, bcbg. the liberty might wind up being owned by
BLAZE!
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BCBG25
Joined: 23 Sep 2004
Posts: 20112
Location: Sampa
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| Posted: 01/22/05 8:28 pm ::: |
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| I think jersey_stupka wants to buy the Liberty, the only impending matter is that she doesn't want to have to buy the Garden lol...
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KeiraNY
Joined: 19 Nov 2004
Posts: 12683
Location: New York, NY
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| Posted: 01/24/05 11:19 am ::: |
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LOL!! I'm sure Jersey can find an arena somewhere...Wouldn't that be fun??? Mel you could be the international broadcast coordinator of the Libs!! LOL!!
| BCBG25 wrote: |
| I think jersey_stupka wants to buy the Liberty, the only impending matter is that she doesn't want to have to buy the Garden lol... |
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