Dolans Up Cablevision Ante

Last month, the company revealed that it had backdated some of its options, including a grant to a dead former executive. The company added that it received a grand jury subpoena seeking information about its stock option practices.

Cablevision also said, in the wake of the options backdating scandal, that it restated its financials going back to last year and that two audit committee members have resigned.

But despite the distractions, the company reported last month that the cable business is moving along fine. The second-quarter $26 million loss was less than Wall Street anticipated, and subscriber growth, particularly with broadband and phone services, was strong.

Cablevision's shares are up 24% since April when the company made its $3 billion dividend payment.