NEW YORK--(BUSINESS WIRE)--Patrick Dolan along with Altice USA announced today that they have entered into an agreement for ownership and management of Newsday Media Group (NMG). An entity led by Dolan has acquired 75 percent of Newsday Media Group. Altice retains a 25 percent interest in the company. Dolan, President of News 12 Networks, also becomes President and Majority Owner of Newsday Media Group. Former Cablevision Chairman Charles Dolan will hold a small financial interest in NMG and serve on its board of directors.
“This is an exciting new chapter in the history of Newsday Media Group,” said Patrick Dolan, President of News 12 Networks, and President and Majority Owner of Newsday Media Group. “My father and I, together with our Altice partners, are deeply committed to preserving the state-of-the-art journalism that Newsday has consistently provided and that has served Long Islanders so well. We also look forward to continuing the collaborations with News 12 Networks that have resulted in breakthrough multi-media projects and digital services.”
“We deeply appreciate the partnership with Altice as we come together to strengthen the power of Newsday Media Group,” said Charles Dolan, Newsday Media Group Board of Directors. “This arrangement opens the door to greater opportunities to connect readers to what matters to them and to continue the company’s legacy of best-in-class local journalism.”
“We have enormous respect for the Dolans and their unwavering passion and dedication to journalistic excellence,” said Dexter Goei, Chairman and CEO of Altice USA. “We are thrilled to be their partner as we drive the continued development of Newsday Media Group to the benefit of our customers and the local communities that we serve.”
As part of the agreement, Altice USA's Optimum Online customers will continue to receive access to Newsday.com and the Newsday mobile Apps.
Newsday Media Group includes Newsday, one of the nation’s largest daily newspapers, serving Long Island through its print editions, its popular website newsday.com, and its mobile/digital products; amNewYork, the most widely circulated free daily serving New York City; and Newsday Hometown Shopper, one of the largest weekly shopper publications in the Northeast.
About Patrick Dolan
Patrick Dolan is President, News 12 Networks, News Director of News 12 Long Island, and independent President and Majority Owner of Newsday Media Group.
Mr. Dolan has been a member of the News 12 team since News 12 Long Island launched in 1986. He joined the station as a Special Projects producer and was promoted to News Director in 1991. He was named Senior Vice President of News in 1995 and President of News in 2001. In addition to overseeing the news operation that has hundreds of awards to its name, Mr. Dolan’s own reporting has been recognized multiple times by the Press Club of Long Island, RTDNA, the New York Associated Press, New York Festivals and the NY NATAS.
Newsday Media Group
Newsday Media Group (NMG) is one of the nation’s most dynamic media organizations, serving Long Island and New York City through its portfolio of mobile and digital products, print publications and live events. With 19 Pulitzer Prizes and other esteemed awards for outstanding journalism, Newsday is read by five out of 10 Long Island adults each week. NMG properties include the award-winning Newsday.com; amNewYork, New York City’s most widely circulated free daily paper along with its mobile app and amNY.com; Newsday Connect, the digital solutions company serving Long Island business owners; and Newsday Local Publishing, one of the Northeast's largest groups of weekly shopper publications.
About Altice USA
Altice USA, a subsidiary of Altice Group (Euronext: ATC, ATCB), is the fourth largest cable operator in the United States, delivering residential and business services to 4.6 million customers across 20 states. Providing high-quality products that keep customers connected, Altice USA (through its Optimum, Lightpath and Suddenlink brands) offers digital cable television, high-speed Internet, voice, WiFi and advertising services. To meet our customers’ content and information needs, the company through News 12 also offers hyper-local news and programming created specifically for the communities we serve. For more information, visit www.alticeusa.com.