Patrick Drahi Hints at Cablevision Acquisition Sending Shares Higher by 7 Percent

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Shares of Cablevision Systems (CVC) ended Friday's trading day to the upside by 7.3 percent. The stock is TheStreet's Move of the Day. Shares were boosted after French billionaire Patrick Drahi said he'd be open to buying Cablevision, during an interview in Geneva. Drahi was at one point interested in buying Time Warner Cable (TWC), according to the Wall Street Journal, but Charter Communications (CHTR) scooped up the cable giant for $78.7 billion, back in May. The Journal said his goal is to bring price bundling for telephone, Internet, cable and mobile service, to the United States. The news sent shares of other cable companies higher. Charter Communications, which Drahi also said he'd be open to acquiring, rose 2 percent. Comcast Corporation (CMCSA) also advanced 2 percent. Cablevision shares are up almost 29 percent since the start of the year. TheStreet's Scott Gamm reports from New York. • Subscribe to TheStreetTV on YouTube: http://t.st/TheStreetTV • For more content from TheStreet visit: http://thestreet.com • Check out all our videos: / thestreettv • Follow TheStreet on Twitter: / thestreet • Like TheStreet on Facebook: / thestreet • Follow TheStreet on LinkedIn: / thestreet • Follow TheStreet on Google+: http://plus.google.com/+TheStreet

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