Cablevision Altice Merger Agreement
The plaintiffs were members of the Dolan family, the founders and, at the time, cablevision`s largest shareholders. They brought an action for the actual performance of certain obligations, which they claimed they owed Altice under the merger agreement and which Altice, according to the applicants, accepted in order to induce the Dolans to sell Cablevision and to coordinate their shares to support the merger. In particular, the plaintiffs allege that Cablevision owned a group of regional cable television channels, known together as News12 Networks LLC (“News12”), which serves approximately three million homes in New Jersey, Connecticut and New York, including two districts of New York and most of Long Island. The protection of News12 and its legacy was so important to the Dolan family that the family attempted to get News12 out of the deal during the initial merger negotiations. .