Looks like Cablevision is headed for a break-up. The paper of record when it comes to New York business, The New York Post has learnt that Cablevision is going to put its cable systems up for sale later this year, and the company most likely to buy the pipes is going to Time Warner Cable. The cable systems could easily fetch $15 billion.
The most likely scenario is that Cablevision waits until the auction for bankrupt cable operator Adelphia is complete before putting its systems which serve some 3 million area homes up for sale. The Adelphia auction could be concluded within four to five weeks.
Time Warner Cable is in the running for Adelphia’s assets as well. The combined companies, could easily go public since it will have the heft of Comcast. The other scenario is that TW Cable buys Adelphia assets, goes public and then acquires Cablevision cable systems.
Last month, Cablevision’s board opted to stop funding Voom, which was Chuck Dolan’s pet project. Later Dolan agreed to purchase some of Voom’s assets and plans to continue the venture.