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Cablevision founder requests review of Altice's management of News 12


According to Market Intelligence, December 2022


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Cablevision founder requests review of Altice's management of News 12

Charles Dolan, the founder of Cablevision Systems Corp., asked for a review of Altice USA Inc.'s compliance with the New York State Public Service Commission regarding the approval of Altice's acquisition of Cablevision, including its News 12 subsidiary.

Dolan said in a letter that he was concerned "that Altice has flouted the commitments it made to the Commission and New York residents," adding that the ruling by Judge Joseph Slights III prohibits Altice from reducing positions for News 12 staffers.

The request comes after a Feb. 13 ruling by Judge Slights, vice chancellor of the Delaware Court of Chancery, said Altice will not be able to terminate the employment of any News 12 staffer without a "bona fide" cause or without obtaining prior approval from the court.

The Dolan family, which owned Cablevision prior to its sale to Altice in 2016, filed a suit in September 2018 against Altice for allegedly ignoring commitments it made when acquiring Cablevision.

The Dolan family argued that as part of the merger agreement, Altice had agreed to operate News 12 in accordance with the News 12 business plan through the end of 2020. Altice since then cut about 70 positions from News 12 in 2017 and plans to cut dozens more, thereby violating the agreement.

The court has scheduled a trial for Sept. 4-6 on the matter.

News 12 is a group of regional cable news television channels serving nearly 3 million households in New York, Connecticut and New Jersey.