The Dolan family and Altice USA have reached a settlement in the family’s lawsuit over layoffs at News 12 Networks by Altice, according to a court document.
The settlement was reached Thursday, according to a filing in Delaware Chancery Court. A three-day trial had been scheduled to begin Wednesday in Dover, Delaware.
The terms of the settlement were not disclosed.
The Dolans and Altice will pay their respective legal costs, including attorneys’ fees, the filing states.
"The litigation related to News 12 has been resolved and settled to both parties' satisfaction," the Dolans and Altice said in a statement on Tuesday. Their press representatives declined to comment further.
The Dolans were controlling shareholders of Cablevision Systems Corp. when the Bethpage company was sold to Altice's parent, Altice N.V. of the Netherlands, in 2016. The family had founded News 12 when it owned Cablevision.
The Dolans sued Altice USA a year ago, alleging the Long Island City, Queens-based company violated the 2016 sales agreement, which prohibited job cuts at News 12 through 2020.
The family said Altice laid off 70 News 12 employees in 2017, called for an additional 35 job cuts last year and a 10 percent reduction in the News 12 workforce in each subsequent year, according to an Aug. 26 court filing.
The layoffs brought the News 12 payroll below the 462 full-time jobs stipulated in the sale of Cablevision for $17.7 billion, the suit stated.
Patrick Dolan, owner of Newsday Media Group, was one of the suit’s named plaintiffs, along with his parents and brother James.