Harbinger Ups Stake in Cablevision

NEW YORK, August 22:
Harbinger Capital Management has increased its stake in Cablevision Systems
Corporation to 8.1 percent (18.95 million shares), according to a regulatory
filing released Thursday.

The filing shows that
Harbinger bought an additional 7.8 million shares in Cablevision—whose
portfolio of cable networks includes AMC, IFC, Sundance Channel and WE tv
through its Rainbow Media Holdings subsidiary—between August 11 and 20,
making it the fourth-largest external investor in Cablevision.

This comes on the heels of
Cablevision’s meeting with its major institutional shareholders last week,
discussing ways that it could raise its valuation. Following those meetings,
Cablevision announced a regular dividend payment to shareholders. Last October, investors had rejected a $36.26-a-share
buyout offer from Cablevision chairman Charles
Dolan and his son, CEO James Dolan. That bid was the family's fourth attempt to
take the company private.

—By Kristin
Brzoznowski