Business/Finance
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| August 15, 2007
Pali analyst Rich Greenfield is questioning CVC‘s forecasts as the Dolan family works toward ratifying its $36/share privatization bid. "We find it all too convenient that management is lowering forecasts in the midst of the market/sector volatility and only five weeks after their last proxy filing that made no mention of a more difficult operating environment," wrote Greenfield. He argues that independent members of the MSO’s board should explain to shareholders some inconsistencies in guidance and FCF projections, and surging working capital numbers. CVC declined to comment on Pali’s note. CVC shares closed Tues at $33.07, down slightly.