CABLEVISION TO BOOST BROADBAND FEES FOR FIRST TIME IN A DECADE
(The following press release from Cablevision was received by e-mail and was reformatted. The sender verified the statement.)
CABLEVISION TO ADJUST PRICE OF AWARD-WINNING HIGH-SPEED INTERNET SERVICE IN 2013, FIRST PRICE INCREASE IN A DECADE
$5 Price Adjustment Will Result In An Average Increase Of 3.2 Percent On Monthly Bills Of Optimum Online Customers
BETHPAGE, NY, December 6, 2012 – Cablevision Systems Corp. (NYSE: CVC) today announced that the price of its award-winning high-speed Internet service will increase by $5 per month in 2013, the first increase in a decade. The new pricing will result in an average increase of 3.2 percent on the monthly bills of Optimum Online customers who are not currently in a promotional package. Cablevision made no adjustment to the price of its cable television or phone products.
Over the last 10 years, Cablevision has made significant investments in its broadband product – most recently through a $140 million network augmentation project – and enhancements like the deployment of more than 50,000 WiFi hotspots, offering customers free and fast wireless Internet access when away from their home or business connections. Cablevision’s high-speed Internet service is offered on a flat-rate basis, with no usage caps, additional fees or consumption-based surcharges. The price adjustment does not apply to customers currently in a promotional package.
“Optimum Online is the gold standard of high-speed Internet service, offering customers blazing fast speeds, free access to the nation’s largest WiFi network and unsurpassed reliability and value,” said Gemma Toner, Cablevision’s senior vice president of broadband product management. “Over the last 10 years, we have made significant investments in our broadband product, recently affirmed by the FCC to deliver in excess of 100 percent of the speeds we advertise, along with advanced security, no usage caps, local news and information and other key features.”
Cablevision customers used Optimum WiFi to connect to the Internet more than 50 million times last month. Optimum WiFi delivers speeds of up to 15 megabits-per-second (Mbps) downstream and up to 4 Mbps upstream, faster than expensive 3G and 4G cellular data services. Hotspots are easy for customers to find using the Optimum WiFi Finder App, available as a free download in the Apple App Store, or by visiting www.optimumwifi.com.
Cablevision’s high-speed Internet customers also enjoy access to award-winning news, including breaking news bulletins, extensive local coverage, traffic reports and weather updates 24/7 on www.Newsday.com or through the Newsday App. The Newsday App and access to Newsday.com is another free benefit for customers. E-mail and Web browsing are guarded from online threats and attacks by advanced security features – anti-virus and anti-spyware, personal firewall, anti-spam, parental controls and anti-phishing protections – offered to customers at no additional charge.
About Cablevision Cablevision Systems Corporation is one of the nation’s leading media and telecommunications companies. In addition to delivering its Optimum branded cable, Internet, and voice offerings throughout the New York area, the company owns and operates cable systems serving homes in four Western states. Cablevision’s local media properties include News 12 Networks, MSG Varsity and Newsday Media Group. Cablevision also owns and operates Clearview Cinemas. Additional information about Cablevision is available on the Web at www.cablevision.com.