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Hedge fund ups stake in Cablevision again

Business Week – A hedge fund known for shaking up underperforming companies has increased its stake in Cablevision Systems Corp. to 9.1 percent, according to a regulatory filing Thursday.

Harbinger Capital Partners now owns more than 21 million shares of the diversified cable operator, up from nearly 19 million shares, or 8.1 percent of Class A shares, its stake as of a regulatory filing made last month. In an earlier August filing, Harbinger disclosed that it held a 4.9 percent stake. The Dolan family owns the Class B shares.

"As we stated previously, we welcome all investors and their focus on enhancing value for all shareholders," said Charlie Schueler, spokesman for Bethpage, N.Y.-based Cablevision.

Harbinger declined to comment beyond the filing.

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