Dolan Family Buys Back |Long Island’s Newsday

     NEW YORK (AP) — Long Island’s Newsday paper is back in the hands of the Dolan family.
     European telecommunications company Altice had bought Newsday’s owner, New York-area cable company Cablevision, in June for $17.7 billion.
     Cablevision was founded by Charles Dolan in 1973, and the Dolan family became a New York sports-and-entertainment power. They control Madison Square Garden, the New York Knicks and Rangers and AMC Networks, which airs “The Walking Dead.”
     Cablevision bought Newsday in 2008. Now, Patrick Dolan, Charles Dolan’s son and brother of former Cablevision CEO James Dolan, is buying 75 percent of Newsday Media Group from Altice and will be its president.
     Charles Dolan will have a “small financial interest” and serve on its board.
     Altice is keeping a 25 percent stake in Newsday.
     
     Copyright 2016 The Associated Press. All rights reserved.

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