Mario Gabelli Comments on Cablevision Systems Corp

Cablevision Systems Corp. ( NYSE:CVC )(3.5%) (CVC - $32.47 - NYSE) provides broadband, television, and phone service to approximately three million subscribers in the New York metropolitan area. An industry pioneer, CVC developed the most advanced cable plant in the country and converted over 70% of its subscribers into triple play (video, phone, and broadband) customers. After years as a potential acquisition candidate, in September 2015 Cablevision agreed to a sale to Altice for $34.90 per share in cash. The deal represents the culmination of efforts to surface value through transactions such as the spin-offs of Madison Square Garden (1.1%) and AMC Networks (0.5%) in February 2010 and June 2011, respectively.

From GAMCO's Global Telecommunications Fund third quarter 2015 shareholder commentary.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.