Top Red Sox Bidders Revealed; Is Cablevision On The Block?

Cablevision Chair Charles Dolan "put a record $400 million-plus offer on the table for" 53% of the Red Sox last week "in a display of financial muscle aimed at steamrolling rivals," according to sources of Scott Van Voorhis of the BOSTON HERALD, who adds Dolan's bid "leads the pack of six high-powered Sox contenders vying to buy control" of the franchise. But Dolan, despite his "display of financial firepower, faces stiff local competition from" the Joseph O'Donnell-Steve Karp bid group, as sources say that although O'Donnell-Karp "did not match Dolan's bid, [they] came within striking distance." Sources add that the Tom Werner-Les Otten group "may lack some of the financial depth of [their] rivals," as the group has been "scrambling to bolster their package" (BOSTON HERALD, 12/4). Also in Boston, Meg Vaillancourt cites a source as saying that there was "at least one bid in excess of" $370M. The source "declined to identify" the bid group (BOSTON GLOBE, 12/4).

UP FOR SALE? Meanwhile, Andrew Bary of BARRON'S reports Cablevision President Jim Dolan, son of Charles Dolan, said that the Dolan family "would 'consider seriously' a substantial offer to purchase the company." Jim Dolan: "Is the family so in love (with the business) that they wouldn't consider an offer to sell? In fact, we would." Cablevision's total market value is $7B (BARRON'S, 12/3).