Purchase hits Cablevision income

2 Mar 2009

The US cable operator Cablevision Systems has reported a fourth-quarter loss of USD321.4 million on revenues of USD2.05 billion. Much of the quarterly loss was attributed to impairment charges relating to the group’s acquisition in May 2008 of New York newspaper Newsday. Sales for the full year were up 11.5% at USD7.23 billion while net loss stood at USD227.6 million, down from a profit of USD218.9 million in 2007. Cablevision had 3.32 million ‘revenue generating units’ at end-2008, up slightly on the year-earlier total. Broadband internet subscriptions were up from 2.28 million to 2.45 million.

United States, Cablevision Systems (Optimum)