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The Dolan family, which controls Cablevision Systems Corp. through a special class of supervoting stock, has failed in a second attempt to take the New York area cable TV provider private.
The Dow scored its second record close in a row and the Nasdaq had its best week in four months as buyers snapped up oil, financial and technology stocks ahead of next week's earnings reports.
The controlling shareholders of Cablevision Systems, the Dolan family, raised their bid today to take the company private to $8.9 billion and said it was their final offer.
Liberty Media Holding Chairman John Malone is gauging the interest of Cablevision Systems controlling family in selling its Rainbow Media unit, the New York Post reported on Wednesday.