Dolans increase offer for Cablevision

NEW YORK (Reuters) -- The Dolan family, which controls Cablevision Systems Corp., has raised its offer for all outstanding shares of the New York-based cable operator to $30 per share from $27, representatives of the family said Friday.

The Dolans said in a statement that the proposal, which values the total equity of Cablevision at $8.9 billion, was its "best and final offer."

The family made its offer of $27 on Oct. 19 2006 and it is already under consideration by the company's Special Committee. Since then Cablevision (Charts) shares have risen nearly 25 percent to close Thursday at $29.60.

In the letter to the board proposing the transaction, the Dolans said the increased offer price represents a value per subscriber of approximately $4,750.

In the letter the Dolans argued that taking the company private will help management to meet the challenges of intensifying competition and the risk of new entrants.

The latest offer will expire Jan. 17, it said.

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