That was quick: with barbarians at the gate, Cablevision (CVC) chief Jim Dolan has decided to start paying a quarterly dividend. Late last month the company said it would explore “strategic options” to lift shares, including a dividend or the sale or spinoff of its Rainbow TV networks and Madision Square Garden. Earlier this week it wrapped up a “listening tour” with prominent institutional investors.
But now Cablevision has some new investors and they’re the aggressive kind. Harbinger Capital, which agitated for change at The New York Times (NYT) and Media General (MEG), has bought up 11 million Cablevision shares in Q2. Cablevision said it will start paying 10 cents a share per quarter starting September 18.
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