Home Media Magazine » Cablevision Posts Loss Newsday Buy 14745
Font Size: A A A

Cablevision Posts Loss on 'Newsday' Buy



By Chris Tribbey | Posted: 26 Feb 2009


Cablevision Systems posted a fourth-quarter (ended Dec. 31) loss of $321 million, mostly due to its $650 million acquisition of Newsday, the company reported Feb. 26.

During the same period in 2007, the company posted a profit of more than $8.5 million.

Cablevision, which offers cable services in the New York, New Jersey and Connecticut areas, lost nearly 4,000 basic cable subscribers during the quarter, but added more than 22,000 digital video subscribers. The company made about $135 per video customer during the quarter.

“Our ongoing success in attracting new customers ensured our industry-leading penetration rates throughout the year,” said company CEO and President James Dolan.
 



User comments




NEWSLETTER

Sign up for our Daily newsletter to receive breaking entertainment news and other features.

POLL

Should movies be released on home video the same time they open in theaters?

Submit Vote
- OR -
Click here to view results

SEND US

Send us video clips of home entertainment industry events and parties