Cablevision CEO James Dolan's 2015 Compensation Valued at $24.6 Million

Cablevision Systems Corp. Chief Executive James Dolan's total compensation last year was valued at $24.6 million, up from $23.7 million in 2014.

The cable company, in what could be its final annual report, said founder and chairman Charles Dolan's compensation was valued at $18.3 million, up from $15.3 million the previous year. Amsterdam-listed telecom group Altice NV said in September that it would buy Cablevision for about $10 billion.

James Dolan, who is Charles Dolan's son, is executive chairman of Madison Square Garden Co., owner of the New York Knicks and Rangers. MSG was spun off Cablevision in 2010.

Most of James Dolan's pay consisted of option awards and non-equity incentive plan compensation. His base salary remained at $2 million.

Charles Dolan, whose base salary stayed at $1.66 million, received stock awards of $7.5 million and $8.8 million of non-equity incentive plan compensation.

The Dolan family controls Cablevision, with a 72.8% voting stake. The Wall Street Journal reported in September that issues including so-called cord-cutting contributed to Charles Dolan's support for a sale of the company .

New York City officials have expressed concerns about the Altice deal over potential job cuts and whether the company will favor wealthier communities in its infrastructure investing.

There has been a continuing debate about whether the city has the authority to block the transaction, or if officials are just posturing to try to win concessions from Altice.

Shalini Ramachandran contributed to this article.

Write to Josh Beckerman at [e-mail]

(END) Dow Jones Newswires

April 29, 2016 18:25 ET (22:25 GMT)

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