Cablevision

Buyout offers from insiders are fraught with conflicts of interest. In particular, there’s a danger a lowball bid will be presented to shareholders. That’s why at such times a special committee of independent directors is appointed to ensure fair play. However, these special committees sometimes prove to be faint-hearted. When that happens, the buyout can run into trouble. The independent directors at Cablevision, however, have shown how this job should be done. When the founding Dolan family t...