CVC Speaks-Sort of

Cablevision offered its 1st comments (limited though they were) on the Dolans’ proposal to take the cable op private, saying it’s formed a 3-member independent committee to review the $7.9bln bid, but didn’t name which of its independent directors are members. The committee named Willie Farr & Gallagher as legal counsel. The tight-lipped company’s closing remark: "We do not intend to comment further at this time." — The Dolans and Cablevision were on a lot of people’s minds Wed, perhaps even NCTA chief Kyle McSlarrow’s. But he used humor to sidestep effectively. Asked whether the cable industry is undervalued at a Media Institute lunch, the new chief responded: I am "even less of a market expert than a cable expert." But the "perceived wisdom" is that the cable ops are undervalued. McSlarrow used his speech to again beat the drum that any changes to the ’96 Telecom Act should apply to all (he seems a quick study on telecom law … or at least he’s memorized the talking points well!).