Cablevision Founder Charles Dolan Making Nearly $170 Million On The Stock's Premarket Surge

By Tomi KilgoreMarketWatch Pulse

Cablevision Systems Corp. founder and chairman Charles Dolan disclosed in a regulatory filing Thursday, that he owns 36.2 million shares, or 14.1% stake in the media and telecommunications company. The disclosure was made on the same day the company announced an agreement to be acquired by European cable company Altice N.V. . With Cablevision's stock soaring 16% in premarket trade, Dolan is making $169.7 million on his stake in one day.

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