Do the Dolans still own Cablevision?

Answered by Frank Schwing

The Dolans do not still own Cablevision. In 2016, they sold the company to Altice USA, a telecommunications conglomerate owned by Patrick Drahi. The sale was for a whopping $17.7 billion, making it one of the largest deals in the telecommunications industry at that time.

The Dolan family has a long history with Cablevision. Charles Dolan, along with his son James Dolan, founded the company in 1973. Cablevision started as a cable television provider in Long Island, New York, and eventually grew to become one of the largest cable operators in the United States.

Throughout the years, the Dolans expanded Cablevision’s reach and diversified its services. They not only provided cable television but also ventured into the internet, phone, and media industries. Cablevision became known for its innovative offerings, such as the Optimum Triple Play package, which combined cable TV, internet, and phone services into one bundle.

As the company grew, so did the Dolans’ influence and wealth. They became prominent figures in the media and entertainment industry, with James Dolan also serving as the CEO of Madison Square Garden and overseeing the New York Knicks basketball team.

However, in 2016, the Dolans made the decision to sell Cablevision to Altice USA. The sale marked the end of an era for the family’s ownership of the company. The decision to sell may have been driven by various factors, including the changing landscape of the telecommunications industry and the opportunity to cash in on their investment.

Selling a company that has been in the family for decades can be a significant emotional and financial decision. It often involves careful consideration of the company’s future prospects and the potential benefits of selling. While I don’t have access to the Dolans’ personal experiences or motivations, it’s safe to assume that they weighed the potential gains from the sale against their attachment to the company and its legacy.

The sale of Cablevision to Altice USA allowed the Dolans to exit the telecommunications industry and focus on their other business ventures. It also provided Altice USA with a significant expansion of its operations in the United States, strengthening its presence in the cable and broadband market.

The Dolans no longer own Cablevision. They sold the company to Altice USA in 2016 for $17.7 billion. The decision to sell likely involved careful consideration of various factors, including the changing industry landscape and the potential gains from the sale. While the Dolans’ ownership of Cablevision has come to an end, their impact on the telecommunications industry and their legacy as pioneers in cable television will be remembered.