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 NEW YORK (AP) - Cablevision Systems Corp., a New York-area cable TV provider that also owns Madison Square Garden, said Wednesday it has agreed to be taken private by the Dolan family, the company's controlling shareholders, in a deal worth about $10.6 billion.
It was the Dolans' third attempt to take the company private in recent years, the first two having been rejected as inadequate by a two-person committee of independent directors on its board.
That committee, and the full board of directors, have approved the Dolans' latest offer of $36.26 per share, the company said in a statement, saying it was in the best interests of public shareholders.
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