Cablevision’s stock price tumbled after investors rejected a proposal by the controlling shareholder (the Dolan family) to buy out the company. The price of $36.26 a share was considered too low by institutional investors, some of whom valued the company as high as $50 a share. The Dolan family's bid was the third such offer in two years and probably the last. CVC stock fell following the rejection due to generalized fears that the cable industry faces slower growth and higher competition, which may in retrospect make the Dolan buyout the best option that shareholders could have taken.
