Peace in the Dolan Household?4/26/2005 5:54 AM Eastern
A Securities and Exchange Commission filing Tuesday morning could indicate that the feud between Cablevision Systems Corp. chairman Charles Dolan and his son, CEO James Dolan, is beginning to cool off.
In the filing -- an amended “13D” document filed by Charles Dolan -- the chairman said he is no longer seeking to elect 75% of Cablevision’s board of directors at its next annual shareholders’ meeting, nor is he seeking to have the company reduce the total number of members on its board to 12 from 15.
The elder Dolan first indicated that he would seek to elect three-quarters of the board March 31, at the height of his public battle with son James over the fate of the struggling Voom HD direct-broadcast satellite service.
Earlier in March, Charles Dolan ousted three directors who had voted against him to scuttle Voom -- retired Cablevision vice chairman William Bell, retired Cablevision executive vice president of communications and government affairs Sheila Mahony and Quadrangle Group LLC managing partner Steve Rattner -- and filled a spot left open by the recent death of John Tatta.
Dolan filled those board seats with cable-industry icons Liberty Media Corp. chairman John Malone, former Viacom Inc. CEO Frank Biondi, former Century Communications Corp. CEO Leonard Tow and former ITT Corp. chairman Rand Araskog.
Since then, the Dolans have agreed to shutter Voom, which is slated to go dark April 30.