Altice's First Plan for Cablevision: Get Rid of the Dolan Family Just days after announcing its $17 billion acquisition of Cablevision, new French owner Altice made it very clear it would be trimming lots of fat off of the Cablevision budget -- most notably in the form of executive salaries. Altice chairman Patrick Drahi was quick to highlight that there's around 300 Cablevision employs currently making more than $300,000 a year -- something that will change immediately.

"I don’t like to pay salaries. I pay as little as I can," Drahi recently crowed with the ink still wet from the deal. “� [Cablevision has] many layers of people that are highly paid. This will change." And of course the biggest salaries of all are that of former Cablevision owners the Dolan family. As such, Altice CEO Dexter Goei is making it pretty clear that the Dolan family will be the first to go once the deal gets regulatory and shareholder approval: quote: After Patrick Drahi’s Altice NV takes control of Cablevision, the New York-area cable operator’s top 10 executives will probably leave, according to Altice Chief Executive Officer Dexter Goei. That would eliminate three members of Cablevision’s founding Dolan family -- compensated a combined $46 million last year -- and their closest lieutenants from the management team. You probably shouldn't feel too badly for James Dolan; reports indicate his golden parachute from the deal is You probably shouldn't feel too badly for James Dolan; reports indicate his golden parachute from the deal is somewhere around $128 million . Meanwhile, what the Altice buy will mean for actual Cablevision customers is anything but clear. The operator has been largely in a holding pattern when it comes to pricing, speeds and promotions for several years while it waited for its M&A prince charming to come knocking.







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Most recommended from 40 comments



RickNY

Premium Member

join:2000-11-02

Farmingville, NY 14 recommendations RickNY Premium Member And unfortunately.. That also means us Cablevision users will likely lose the greatest asset to the executive team, Wilt Hildenbrand. Some executives deserve every penny -- especially if they make themselves highly available to help out their customers.

Simba7

I Void Warranties

join:2003-03-24

Fromberg, MT 13 recommendations Simba7 Member Here comes the gutting.. ..with a machete. This is going to get rather ugly and nasty.



"I dont like to pay salaries. I pay as little as I can,"



This explains it all. Drahi, along with all of Altice, is a nasty, uncontrollable plague. Hopefully he doesn't engulf others soon. smk11

join:2014-11-12 10 recommendations smk11 Member "Cut my salary? I am a bargain at my current inflated salary!" Why does no one ever see themselves as dead weight also? We're getting to a point where executives and CEO's could be outsourced or completely fired outright at a majority of companies.

ieolus

Support The Clecs

join:2001-06-19

Danbury, CT 9 recommendations ieolus Member Hates paying salaries I bet he likes collecting his own salary.