Uniondale, Long Island, New York, July 12, 2016 – Ruskin Moscou Faltischek P.C. announced today that it represented Patrick Dolan in his purchase of a 75% ownership stake in Newsday Media Group. Partner Irvin Brum, Esq., together with Partner Adam P. Silvers, Esq, led a team of RMF attorneys in completing the deal in less than two weeks.
Patrick Dolan, President of News 12 Networks, becomes President and Majority Owner of Newsday Media Group. His father Charles Dolan, former Cablevision Chairman, will hold a small financial interest in Newsday Media Group and serve on its board of directors. As part of the agreement for ownership and management, Altice USA will retain a 25% interest in the company. Altice USA’s Optimum Online customers will continue to receive access to Newsday.com and the Newsday mobile Apps.
“Altice USA and I are committed to preserving the journalistic excellence that Newsday has consistently provided to Long Islanders, and we hope to create greater opportunities to connect readers to what matters most to them,” said Patrick Dolan. “We retained Ruskin Moscou Faltischek to handle this important deal and I couldn’t be more pleased with the outcome,” added Mr. Dolan.
“Newsday Media Group is a well-respected and recognized leader in its industry, as well as a vital Long Island institution. While many other local newspapers are opting to sell out to large corporate conglomerates, we are honored to have participated in this important milestone in Newsday’s and Long Island’s history,” stated Irvin Brum. “Mr. Dolan cares deeply about Long Island and maintaining a local news operation that reflects the best Long Island has to offer.”
Irvin Brum is Senior Partner and the Chairman of the firm’s Corporate & Securities Department, Long Island’s largest such practice group, and personally represents some of the firm’s largest public and private clients. A trusted business advisor, Mr. Brum’s practice focuses on complex business transactions including mergers and acquisitions, public and private debt and equity financings, venture capital, succession planning, Employee Stock Ownership Plans and other exit strategies. Mr. Brum also regularly counsels CEOs and Boards of Directors on corporate governance and related matters.
Adam P. Silvers is Managing Partner and a member of the firm’s Corporate & Securities Department, Intellectual Property Group, and chairs the firms Technology Practice Group. His practice regularly counsels both private and publicly traded companies on a variety of legal issues. Mr. Silvers has successfully handled a wide range of complex transactions involving mergers and acquisitions, public offerings, private placements and venture capital financings, joint venture and partnership agreements, among other areas.
Newsday Media Group includes Newsday, one of the nation’s largest daily newspapers, serving Long Island through its print editions, its popular website newsday.com, and its mobile/digital products; amNewYork, the most widely circulated free daily serving New York City; and Newsday Hometown Shopper, one of the largest weekly shopper publications in the northeast.
For more than 48 years, Ruskin Moscou Faltischek P.C., headquartered in Uniondale, has built a reputation as one of the region’s leading providers of innovative legal services. Its attorneys are practical, experienced advocates who measure their success by their clients’ success. Cornerstone groups in all major practice areas of the law are represented at the firm, including corporate & securities, financial services, commercial litigation, intellectual property, health care, real estate, employment, cybersecurity and data privacy, energy, and trusts & estates. Clients include large and mid-sized corporations, privately held businesses, institutions and individuals.