Cablevision has a new(ish) big stakeholder and things could get interesting as it is activist investor Harbinger Capital. According to a regulatory filing Harbinger now owns a combined 11 million shares in Cablevision through two funds as of June 30th, making it the 5th largest external stakeholder in the New York cable operator.
In an interview, he says that it’s about time Cablevision get down to business and hook up with Time Warner Cable. Gabelli, who runs hedge fund Gamco Investors, a top Cablevision shareholder, tells Bloomberg the family run cable operator and networks company should be “making love with Time Warner Cable.”
We poked a little fun at Harbinger Capital Partners honcho Phil Falcone for not being the most communicative guy when it comes to dealing with some of the companies that his hedge fund is busy badgering. Let us therefore be the first to tell you when he actually does show up.