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Newsday (Melville, NY)
MAR-06
Cablevision borrows big: Despite opposition, company secures $3.5B to pay dividend.
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Cablevision borrows big: Despite opposition, company secures $3.5B to pay dividend.
Publication: Newsday (Melville, NY) Publication Date: 31-MAR-06 |
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COPYRIGHT 2006 Newsday
Byline: Mark Harrington
Mar. 31--Even as a special committee of its board of directors undertakes a review of a proposed $3-billion special dividend in response to lawsuits opposing it, Cablevision Systems Corp.'s CSC Holdings said yesterday it received bank approval and has borrowed $3.5 billion to fund the controversial payout. After it first proposed the dividend in November, Cablevision a month later was forced to call it off after discovering it would have violated...
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