Cablevision's founding family is close to taking the entertainment giant private, the Journal reports. The Dolans have tried and failed twice since 2005 to strike a deal with the board, but the third time may be the charm. The magic number is $36 a share, up from $30 in an unsuccessful bid in January.
The current bid, valued at at least $10.5 billion, signals confidence in the cable business and the determination of Charles and James Dolan, the famously pugnacious father-and-son team, to control the company. Time Warner has long coveted its cable-system rival, which is also locked in a struggle with Verizon for Internet and phone service.