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Cablevision to buy Bresnan Communications for $1.4 billion

by Gautham Nagesh - 06/14/10 6:29 PM ET
by Gautham Nagesh - 06/14/10 6:29 PM ET

Cablevision will also create a new subsidiary to house Bresnan under the oversight of Rutledge. Analysts told the AP that Cablevision paid a hefty premium for Bresnan — the price paid is 8.5 times before tax earnings, while other cable companies trade for around six times earnings.

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