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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 7)*
Cablevision Systems Corporation
(Name of Issuer)
Class A Common Stock, par value $.01 per share
(Title of Class of Securities)
12686C-10-9
(CUSIP Number)
Bruce D. Haims, Esq. Debevoise & Plimpton,
875 Third Avenue,
New York, NY 10022 (212) 909-6000
(Name, Address and telephone Number of Person Authorized to Receive
Notices and Communications)
April 30, 1997
(Date of event which requires filing of this
Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
Note: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) for other parties to whom copies are to be
sent.
* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purposes of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Page 1 of 6 Pages
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CUSIP No. 12686C-10-9 13D
(1) Names of Reporting Persons
S.S. or I.R.S. Identifica- Charles F. Dolan
tion Nos. of Above Persons SS: ###-##-####
________________________________________________________________________________
(2) Check the Appropriate Box (a)___________________________
if a Member of a Group (b)___________________________
________________________________________________________________________________
(3) SEC Use Only
________________________________________________________________________________
(4) Source of Funds OO- See Item of Statement
________________________________________________________________________________
(5) Check if Disclosure of Legal
Proceedings is Required Pursuant
to Items 2(d) or 2(e)
________________________________________________________________________________
(6) Citizenship or Place of
Organization U.S.A.
________________________________________________________________________________
Number of Shares (7) Sole Voting Power 5,073,424
Beneficially Owned ____________________________________________________________
by Each Reporting (8) Shared Voting Power 1,478,975
Person With ____________________________________________________________
(9) Sole Dispositive Power 5,073,424
____________________________________________________________
(10) Shared Dispositive Power 1,478,975
________________________________________________________________________________
(11) Aggregate Amount Beneficially
Owned by Each Reporting Person 6,552,399
________________________________________________________________________________
(12) Check if the Aggregate Amount
in Row (11) Excludes Certain Shares
________________________________________________________________________________
(13) Percent of Class Represented
by Amount in Row 11 32.5%
________________________________________________________________________________
(14) Type of Reporting Person IN
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CUSIP No. 12686C-10-9 13D
CONTINUATION PAGES OF AMENDMENT NO. 7
TO SCHEDULE 13D FILED BY
CHARLES F. DOLAN
This Amendment No. 7 to the Schedule 13D, dated May 23, 1988,
as amended by Amendment No. 1 thereto, dated May 7, 1990, Amendment No. 2
thereto, dated August 24, 1991, Amendment No. 3 thereto, dated January 6, 1995,
Amendment No. 4 thereto, dated November 20, 1995, Amendment No. 5 thereto, dated
March 22, 1996, and Amendment No. 6 thereto, dated February 14, 1997 (as so
amended, the "Schedule 13D"), previously filed by Charles F. Dolan ("Mr.
Dolan"), is being filed in connection with changes in Mr. Dolan's beneficial
ownership of the stock of Cablevision Systems Corporation, a Delaware
corporation (the "Company"), resulting from (i) Mr. Dolan's establishment and
funding of the Charles F. Dolan 1997 Grantor Annuity Trust (the "Trust") for
estate planning purposes, (ii) dispositions by gift by the Dolan Family
Foundation, a New York not-for-profit corporation (the "Foundation") of certain
shares of Class A Common Stock, par value $.01 per share, of the Company (the
"Class A Common Stock"), and (iii) the purchase by Mr. Dolan of certain
Depositary Shares of the Company. The cover page is amended and Item 5 is hereby
supplemented by adding the following information after the last paragraph
thereof. All other items remain unchanged from previous filings of this Schedule
13D.
Item 5. INTEREST IN SECURITIES OF THE ISSUER.
As of April 30, 1997 Mr. Dolan may be deemed to beneficially
own 250,280 shares of Class A Common Stock, 6,234,281 shares of Class B Common
Stock, par value $.01 per share, of the Company (the "Class B Common Stock") and
183,000 Depositary Shares. The Class B Common Stock is convertible at the option
of the holder share for share into Class A Common Stock of the Company. Each
Depositary Share represents a one-tenth interest in a share of the 8 1/2% Series
I Cumulative Convertible Exchangeable Preferred Stock of the Company and is
convertible at the option of the holder into .3707 shares of Class A Common
Stock (the
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CUSIP No. 12686C-10-9 13D
"Depositary Shares"). In addition, on or after 1/1/98, at the option of the
Company, the Depositary Shares are exchangeable for the Company's 8 1/2%
Convertible Subordinated Debentures due 2007 at the rate of $25.00 principal
amount per Depositary Share. This aggregate amount represents approximately
32.5% of the outstanding shares of Class A Common Stock (including shares of
Class A Common Stock issuable upon the conversion of shares of the Class B
Common Stock and Depositary Shares).
Mr. Dolan may be deemed to have (i) the sole power to vote or
direct the vote of and to dispose of or to direct the disposition of 11,305
shares of Class A Common Stock, 4,994,281 shares of Class B Common Stock and
183,000 Depositary Shares, (ii) the current shared power to vote or direct the
vote of and to dispose of or direct the disposition of (a) 233,975 shares of
Class A Common Stock through the Foundation, (b) 5,000 shares of Class A Common
Stock through his spouse Helen A. Dolan ("Mrs. Dolan") and (c) 1,240,000 shares
of Class B Common Stock through the Trust because of his right to reacquire
these shares within 60 days.
The following paragraphs describe the changes in Mr. Dolan's
beneficial ownership of the stock of the Company.
During January and February 1997, Mr. Dolan acquired a total
of 183,000 Depositary Shares.
On April 30, 1997, Mr. Dolan established the Trust for estate
planning purposes. The Trust was funded by the transfer of 1,240,000 shares
Class B Common Stock from Mr. Dolan to the Trust. Since under the current terms
of the Trust, Mr. Dolan has a power to reacquire any property held by the Trust
by substituting other property of equivalent value, Mr. Dolan may be deemed to
have beneficial ownership of the shares held in the Trust.
The Trust, through its trustees, has the sole power to vote
and dispose of such shares. The two co-trustees (the "Trustees") of the Trust
are Mr. Dolan and
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CUSIP No. 12686C-10-9 13D
Mrs. Dolan, who have the shared power to vote and dispose of such shares. For
three years or until the earlier death of Mr. Dolan, the Trust will pay to Mr.
Dolan a certain percentage of the fair market value of the property initially
contributed to the Trust (the "Annuity"). If Mr. Dolan dies during such
three-year term and is survived by Mrs. Dolan, the remaining portion of the
Annuity will be paid to Mrs. Dolan until the earlier of her death or the date
three years from Mr. Dolan's death, provided that Mr. Dolan may revoke Mrs.
Dolan's right to receive such payments. If Mr. Dolan is living at the expiration
of the term of the Trust, the remainder will pass into another trust for the
benefit of Mrs. Dolan and all descendants of Charles F. Dolan living at any time
and from time to time. If Mr. Dolan is not living at the expiration of the term
of the Trust, the then principal of the Trust will revert to his estate.
Also, on April 30, 1997, the Foundation gifted 13,500 shares
of Class A Common Stock to certain organizations.
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CUSIP No. 12686C-10-9 13D
SIGNATURE.
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this Statement is true,
complete and correct.
Date: May 12, 1997
/s/ Charles F. Dolan
Signature: By William A. Frewin, Jr.
-------------------------
Name/Title: Charles F. Dolan
By William A. Frewin, Jr., as
attorney-in-fact
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