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CHARLES NOT READY TO BE DOLAN OUT $2.5B FOR YANKEES RIGHTS

          Cablevision Chair Charles Dolan said that if his
     company agrees to pay almost $2.5B for the rights to
     televise Yankees games on MSG Network over the next ten
     years, sports fans "may balk at paying sharply higher" cable
     fees, according to Berkowitz & Zipay of NEWSDAY.  Dolan also
     said that the cost of the Yankees TV extension "would be
     about" $1.5B "if the company pays it all upfront, but, he
     said, 'nobody does that.'"  Dolan said the deal, when paid
     year by year, "adds up to" $2.5B, which is "six times what
     was paid for those rights over the last ten years."  On
     Friday, YankeeNets sent a letter to MSG that said its
     investment banker, Morgan Stanley Dean Witter, "had valued
     the rights at" $1.4B.  YankeeNets Chair & CEO Harvey
     Schiller said the future value of the TV rights was "about"
     $2.3B, and that the figure was "based on revenue projections
     derived from calculations on what cable companies can
     charge" per subscriber, advertising rates for both cable and
     over-the-air telecasts and inflation.  Dolan, on "possible
     effects" on subscriber fees for MSG, or overall cable
     service: "Their costs would increase substantially without
     any change in the service that has been provided to them in
     the past."  Dolan, on the rights fee: "Will that price work
     in the marketplace and how will we relate to that?  I don't
     know."  Schiller, when told Dolan felt that the fee was "too
     high," said, "Then let him pass" (NEWSDAY, 9/13).  Dolan
     also said he had "no idea" when a deal might be reached with
     YankeeNets (MULTICHANNEL NEWS, 9/12).

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