By Oli Coleman and Emily Smith September 4, 2018 | 5:11pm
The Dolan family is suing Altice USA — the cable company to which it sold Cablevision with its News 12 network back in 2016 for $17.7 billion, Page Six has learned.
The media moguls — including patriarch Charles, Madison Square Garden honcho Jim and former News 12 president and Newsday exec Pat — allege that they sold the local news network to conglomerate Altice USA with the rest of Cablevision only because it promised to protect News 12’s journalistic legacy. But the Dolans allege Altice went back on its word almost immediately when it began laying off staff just a year later.
Now, the family has filed legal papers in Delaware charging that Altice hasn’t lived up to its side of the deal.
Meanwhile, Altice told Page Six, “This lawsuit is completely without merit and we will defend against it vigorously.”
Pat told Page Six, “When we were negotiating the sale of Cablevision, we were concerned about [the future of] News 12 because of Altice’s reputation for being aggressive cost cutters.”
According to the suit, “In order to induce [the Dolans] to part with the News 12 asset, Altice promised to stand by News 12’s employees and their salaries, and operate News 12 in accordance with the five-year business plan” set by the Dolans. Altice allegedly agreed to lose up to $60 million before cutting any of the company 462 staffers.
But court docs claim that in 2017 the company laid off 70 news staff, and informed the Dolans in August that it planned to lay off more.
Pat says they decided they had to sue “to protect its employees” and because “a newsroom is more than its balance sheet.”
In a statement, Altice said it “remains committed to offering meaningful news coverage.”
https://pge.sx/2oNcTk1
10 replies (most recent on top)
Our management team does care about you guys.
You're still employed and you still getting W-2, that's proof right there.
No one care about the techs get over ityour all a bunch of whinney little babies. Either unionize or take it in the a$$ or shut the hell up
Tinton falls you ever gonna step up to the plate?
Let's summarize:
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Dolan must've had some very important friends employed at News12.
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Dolan made promises to them that their jobs would be safe after he sold.
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Dolan made a hand-shake deal with Altice top brass then they turned around and began cutting News12 staff.
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Dolan must've felt disrespected as well as somewhat responsible for those layoffs.
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Dolan files lawsuit against Altice.
Wwaaaaaa!!!.....17 billion....not enough....wwaaaaaaa!!!....wheres my butler so he can change my diaper made out of 100 dollar bills...wwaaaaaaaaaaaaa!!
How about the thousands of people the lost their jobs? not just news 12, the worst news out there anyway, they repeat the same news from morning to night.They sold the company period, they have nothing to say,
Dolan's are only helping their own people and their financial interests in News 12. They could care less about anyone or anthing else. This is proof that they were fully aware of the slash and burn techniques, prior to the sale.
Sellouts. So many lives affected. Dolans still thinking about themselves, if suit goes forward and is won in court.
That would add to giving reason for more cuts under the other AUSA hierarchies.
I could see that email,
"Due to some adjustments in the industry (Sprint/Tmobile merger, and a loss of $11.7billion) AUSA will be bringing synergies closer to our business model. These adjustments (more layoffs) are for us to follow our efficiency models more closely. We want to be laser focused (to snipe more jobs) with our continued growth (Altice execs own pockets) in the industry. This will help deliver a world class experience to our customers (B. S.).
We appreciate your cooperation and willingness to support this strategy (we really want you long term employees to quit, so we can continue to slash and burn benefits). "
Thank you,
:-D : -(G) (emoji)
So pathetic, that some live in a bubble, completely unaware of the real world.
Welcome to the real world Dolans. And every one else on the kool aid train.
Go Pat. Thank you for standing up for what you believe in when no else would. Bring altice down!
Wow. Pat's a good man!!!
Wow that sounds like the speech of a losing team. Glad you're not on my team.
If they can't keep their commitment with the sellers of the company. What makes you think your job is safe dealing with them directly? Lawsuit after lawsuit nothing new. They have money set aside for it every year. The fine is nothing if it's cost effective to get rid of head count. It's all about the bottom line PROFIT$.