Dolan Won't Shrink Cablevision Board - Broadcasting & Cable

Dolan Won't Shrink Cablevision Board

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Cablevision Systems Corp. chairman Charles Dolan has backed away from a plan to shrink the company's board.

After the Cablevision board voted to shutter, HD DBS service VOOM, Dolan’s pet project, in March, Dolan fought back by declaring he would reduce the number of directors from 15 to 12, using his control over stock with 75% of shareholder votes.

He also has the power to name three board seats, which is 20% of the current board and would be 25% a smaller one. But in a securities filing, Dolan says he withdrew that plan last Friday.

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