Cablevision (CVC) Stock Up After CEO Dolan Expresses Interest in Deal

NEW YORK (TheStreet) -- Shares of Cablevision  (CVC) were up 3.34% to $21.03 in late afternoon trading Wednesday after CEO James Dolan said he would be interested in a deal with Time Warner Cable (TWC), Comcast  (CMCSA), and other cable operators.

Consolidation in the cable TV marketplace in New York would offer a "great deal of ingenuity and much more access to resources for the customers and lower prices," Dolan said on Wednesday in Chicago at the Internet & Television Expo, according to CNBC.

Dolan added he would not be interested in a deal with Verizon's (VZ) FiOS TV and Internet service.

Cablevision operates primarily in the New York area.

More than 18.9 million shares had changed hands as of 3:40 p.m., compared to the daily average volume of 3,233,430.

Separately, TheStreet Ratings team rates CABLEVISION SYS CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate CABLEVISION SYS CORP (CVC) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income and feeble growth in the company's earnings per share."

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