Cablevision to hold off on major acquisitions: report

(Reuters) - Cable television operator Cablevision Systems Corp said it will hold off on major acquisitions as it concluded a three-day investor roadshow to weigh strategic options, the Wall Street Journal reported Thursday, citing an investor.

"The company indicated they don't plan on making further forays into the news business or other large acquisition," the investor told the Journal.

Top executives also weighed previously outlined options to lift its stock price, including declaring a dividend, buying back shares, and spinning off assets such as its Rainbow cable network and Madison Square Garden, the paper said, citing an investor who was present at one meeting.

Cablevision did not immediately return a call seeking comment.

Cablevision said earlier this month it was exploring options to close the gap between its intrinsic value and its share price.

Last week, Mario Gabelli, whose Gamco Investors Inc owns about 8 percent of Cablevision's share float, told Reuters that the cable TV operator should sell one of its units to raise cash for an aggressive stock buyback rather than break up the whole business.

At the time, Gabelli also told Reuters he and other major stakeholders would discuss their plans with management in a series of meetings August 11 to 14.

Shares of the company closed at $30.96 Wednesday on the New York Stock Exchange.

(Reporting by Tenzin Pema in Bangalore; editing by Karen Foster)