Cablevision Systems Corporation Reports Third Quarter 2013 Results

  Cablevision Systems Corporation Reports Third Quarter 2013 Results

Business Wire

BETHPAGE, N.Y. -- November 8, 2013

Cablevision Systems Corporation (NYSE:CVC) today reported financial results
for the third quarter ended September 30, 2013.^1

Third quarter consolidated net revenues increased 1.8% to $1.568billion,
consolidated adjusted operating cash flow (“AOCF”)^2 decreased 4.0% to
$441.1million and consolidated operating income increased 3.6% to
$225.4million, all compared with the prior year period.

Operating highlights for the third quarter 2013 include:

  *Average Monthly Revenue per Video Customer (“RPS”) of $164.61, an increase
    of $8.38 or 5.4%, compared with the prior year period.
  *Cable advertising revenue growth of 8.8%, compared to the prior year
    period.
  *Year to date Consolidated Free Cash Flow from Continuing Operations^2 of
    $77.3 million.

Cablevision President and CEO James L. Dolan said, “Cablevision continues to
enhance the overall Optimum experience for our customers with improved
products and a superior level of service. At the same time, we have taken a
number of steps to improve our financial performance and strengthen our
balance sheet. We expect that the investments we are making in the business
will yield results as we move forward."


     Financial results of Bresnan Broadband Holdings, LLC (Bresnan Cable) and
1.  substantially all of Clearview Cinemas (Clearview) are reflected in the
     Company’s consolidated financial statements as discontinued operations
     for all periods presented.
     See definition of AOCF and Consolidated Free Cash Flow from Continuing
2.   Operations included in the discussion of non-GAAP financial measures on
     page 4 of this earnings release.


Telecommunications Services – Cable Television and Lightpath

Telecommunications Services includes Cable Television – Cablevision’s video,
high-speed data, and voice residential and commercial services offered over
its cable infrastructure – and Lightpath, a provider of integrated business
communications solutions for larger companies.

Telecommunications Services net revenues for the third quarter 2013 increased
1.8% to $1.486billion, AOCF decreased 4.5% to $486.2 million and operating
income decreased 5.7% to $272.5million, all compared with the prior year
period. Third quarter 2012 results included a $12.0 million favorable
settlement with a voice carrier. If excluded, consolidated net revenues would
have increased 2.7%, AOCF would have decreased 2.2% and operating income would
have decreased 1.6%, all compared to the prior year period.

Cable Television

Cable Television third quarter 2013 net revenues increased 1.8% to
$1.407billion principally due to higher data rates, higher video revenues and
increased advertising revenues, compared to the prior year period. AOCF
decreased 5.4% to $447.7million and operating income decreased 7.2% to
$255.8million, all compared with the prior year period. Third quarter 2013
AOCF results reflect higher operating expenses, primarily programming and
other costs. Excluding the favorable settlement with a voice carrier mentioned
above, consolidated net revenues would have increased 2.7%, AOCF would have
decreased 2.9% and operating income would have decreased 3.1%, all compared to
the prior year period.

The following table illustrates the change in the Cable Television customer
base during the third quarter of 2013:


Customer Data

(rounded to nearest thousand)
                           
                            Total                              Total
                                      Net Gain/(Loss)  
                            June 30,                           September 30,
                            2013                               2013
                                                          
Total Customers^(a)         3,224          (29)                3,195
                                                               
Video                       2,868          (37)                2,831
High-Speed Data             2,787          (13)                2,774
Voice Customers             2,290          (18)                2,272
                                                               
Serviceable Passings        5,004        9                 5,013


(a)  Total customers are defined as the number of households/businesses that
      receive at least one of the Company's services.


Lightpath

For third quarter 2013, Lightpath net revenues increased 1.7% to
$82.7million, AOCF increased 7.2% to $38.6million and operating income
increased 27.0% to $16.6million, each as compared with the prior year period.
Third quarter results reflect an increase in revenue from Ethernet services
versus the prior year period and a higher overall gross margin.

Other

Other primarily consists of Newsday, News 12 Networks, MSG Varsity,
Cablevision Media Sales Corporation and certain other businesses and
unallocated corporate costs.

Third quarter 2013 net revenues increased 2.0% to $87.6million, AOCF deficit
decreased by 9.2% to a deficit of $45.1million and operating loss decreased
33.9% to a loss of $47.0million, all compared with the prior year period.
Third quarter AOCF results principally reflect lower operating costs as a
result of reduced activity at MSG Varsity. The improvement in operating loss
reflects lower depreciation expense, primarily due to a $13.2 million
adjustment related to prior periods.

Other Matters

On November 6, 2013, the Board of Directors of Cablevision declared a
quarterly dividend of $0.15per share on each outstanding share of both its
Cablevision NY Group Class A Stock and its Cablevision NY Group Class B Stock.
This quarterly dividend is payable on December 13, 2013 to shareholders of
record at the close of business on November 22, 2013.

There were no repurchases of stock during the third quarter of 2013. As of
September30, 2013, the Company had approximately $455 million available under
its stock repurchase authorizations.

Non-GAAP Financial Measures

We define adjusted operating cash flow (“AOCF”), which is a non-GAAP financial
measure, as operating income (loss) before depreciation and amortization
(including impairments), excluding share-based compensation expense or benefit
and restructuring charges or credits. Because it is based upon operating
income (loss), AOCF also excludes interest expense (including cash interest
expense) and other non-operating income and expense items. We believe that the
exclusion of share-based compensation expense or benefit allows investors to
better track the performance of the various operating units of our business
without regard to the distortive effects of fluctuating stock prices in the
case of stock appreciation rights and, in the case of restricted shares,
restricted stock units and stock options, the expense associated with an award
that is not expected to be made in cash.

We present AOCF as a measure of our ability to service our debt and make
continuing investments, including in our capital infrastructure. We believe
AOCF is an appropriate measure for evaluating the operating performance of our
business segments and the company on a consolidated basis. AOCF and similar
measures with similar titles are common performance measures used by
investors, analysts and peers to compare performance in our industry.
Internally, we use net revenues and AOCF measures as the most important
indicators of our business performance, and evaluate management’s
effectiveness with specific reference to these indicators. AOCF should be
viewed as a supplement to and not a substitute for operating income (loss),
net income (loss), cash flows from operating activities, and other measures of
performance and/or liquidity presented in accordance with U.S. generally
accepted accounting principles ("GAAP"). Since AOCF is not a measure of
performance calculated in accordance with GAAP, this measure may not be
comparable to similar measures with similar titles used by other companies.
For a reconciliation of AOCF to operating income (loss), please see page 6 of
this release.

We define Consolidated Free Cash Flow from Continuing Operations (“Free Cash
Flow”), which is a non-GAAP financial measure, as net cash from operating
activities (continuing operations) plus any excess tax benefit related to
share-based awards less capital expenditures (continuing operations), all of
which are reported in our Consolidated Statement of Cash Flows. Net cash from
operating activities excludes net cash from operating activities of our
discontinued operations. We believe the most comparable GAAP financial measure
of our liquidity is net cash from operating activities. We believe that Free
Cash Flow is useful as an indicator of our overall liquidity, as the amount of
Free Cash Flow generated in any period is representative of cash that is
available for debt repayment and other discretionary and non-discretionary
cash uses. It is also one of several indicators of our ability to make
investments and/or return capital to our shareholders. We also believe that
Free Cash Flow is one of several benchmarks used by analysts and investors who
follow our industry for comparison of our liquidity with other companies in
our industry, although our measure of Free Cash Flow may not be directly
comparable to similar measures reported by other companies.

COMPANY DESCRIPTION

Cablevision Systems Corporation (NYSE: CVC) is a leading media and
telecommunications company, serving millions of households and businesses
throughout the greater New York area. Providing quality products that keep
customers connected, Cablevision offers Optimum-branded digital cable
television, high-speed Internet and phone services as well as Optimum WiFi,
the nation's most robust wireless Internet network. Cablevision’s Lightpath
subsidiary is a premier provider of integrated business communications
solutions for larger companies. Through its local media and programming
properties – News 12 Networks, Newsday Media Group and MSG Varsity –
Cablevision also delivers news and information created specifically for the
communities it serves. Additional information about Cablevision is available
at www.cablevision.com.

This earnings release may contain statements that constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995. Investors are cautioned that any such forward-looking statements are
not guarantees of future performance or results and involve risks and
uncertainties, and that actual results or developments may differ materially
from those in the forward-looking statements as a result of various factors,
including financial community and rating agency perceptions of the company and
its business, operations, financial condition and the industries in which it
operates and the factors described in the company’s filings with the
Securities and Exchange Commission, including the sections entitled "Risk
Factors" and "Management’s Discussion and Analysis of Financial Condition and
Results of Operations" contained therein. The company disclaims any obligation
to update any forward-looking statements contained herein.

Cablevision’s Website: www.cablevision.com
The conference call will be webcast live today at 10:00 a.m. ET
Conference call dial-in number is (888) 694-4641/ Conference ID Number
86198464/ Conference call replay number (855) 859-2056/ Conference ID Number
86198464 until November 15, 2013


CABLEVISION SYSTEMS CORPORATION

CONDENSED CONSOLIDATED OPERATIONS DATA AND RECONCILIATION

(Dollars in thousands, except per share data)

(Unaudited)

                       Three Months Ended                      Nine Months Ended
                                                       
                       September 30,                           September 30,
                       2013^(a)         2012^(a)            2013^(a)         2012^(a)

Revenues, net          $ 1,567,837        $ 1,539,515        $ 4,648,684        $ 4,616,563 
                                                                                   
Adjusted
operating cash           441,140             459,326             1,228,142           1,430,677
flow
Share-based
compensation             (12,252   )         (13,519   )         (40,544   )         (37,259   )
expense
Restructuring
credit                  (56       )        (330      )        582               61        
(expense)
Operating
income before
depreciation             428,832             445,477             1,188,180           1,393,479
and
amortization
Depreciation
and
amortization            203,405           227,814           657,603           655,350   
(including
impairments)
Operating                225,427             217,663             530,577             738,129
income
Other income
(expense):
Interest                 (145,275  )         (168,005  )         (457,862  )         (501,435  )
expense, net
Gain on
investments,             70,222              81,619              166,891             259,057
net
Loss on equity
derivative               (40,750   )         (57,082   )         (93,260   )         (184,413  )
contracts, net
Loss on
interest rate            -                   -                   -                   (1,828    )
swap
contracts, net
Loss on
extinguishment
of debt and
write-off of             (16,509   )         (61,052   )         (23,146   )         (61,052   )
deferred
financing
costs, net
Miscellaneous,          805               474               1,673             1,278     
net
Income from
continuing
operations               93,920              13,617              124,873             249,736
before income
taxes
Income tax              (34,172   )        (9,905    )        (44,036   )        (101,544  )
expense
Income from
continuing               59,748              3,712               80,837              148,192
operations
Income (loss)
from
discontinued            235,286           (7,576    )        333,516           (31,163   )
operations,
net of income
taxes
Net income               295,034             (3,864    )         414,353             117,029
(loss)
Net loss
(income)
attributable            (433      )        73                (534      )        (44       )
to
noncontrolling
interests
Net income
(loss)
attributable
to Cablevision         $ 294,601          $ (3,791    )       $ 413,819          $ 116,985   
Systems
Corporation
stockholders
                                                                                   
Basic net
income (loss)
per share
attributable
to Cablevision
Systems
Corporation
stockholders:
Income from
continuing             $ 0.23             $ 0.01             $ 0.31             $ 0.56      
operations
Income (loss)
from                   $ 0.90             $ (0.03     )       $ 1.28             $ (0.12     )
discontinued
operations
Net income             $ 1.13             $ (0.01     )       $ 1.59             $ 0.44      
(loss)
Basic weighted
average common          261,287           259,905           260,473           263,570   
shares (in
thousands)
                                                                                   
Diluted net
income (loss)
per share
attributable
to Cablevision
Systems
Corporation
stockholders:
Income from
continuing             $ 0.22             $ 0.01             $ 0.30             $ 0.55      
operations
Income (loss)
from                   $ 0.88             $ (0.03     )       $ 1.26             $ (0.12     )
discontinued
operations
Net income             $ 1.10             $ (0.01     )       $ 1.56             $ 0.44      
(loss)
Diluted
weighted
average common          267,558           264,636           265,487           268,704   
shares (in
thousands)
                                                                                   
Amounts
attributable
to Cablevision
Systems
Corporation
stockholders:
Income from
continuing
operations,            $ 59,315            $ 3,785             $ 80,303            $ 148,148
net of income
taxes
Income (loss)
from
discontinued            235,286           (7,576    )        333,516           (31,163   )
operations,
net of income
taxes
Net income             $ 294,601          $ (3,791    )       $ 413,819          $ 116,985   
(loss)


(a)  Operating results of Bresnan Cable and Clearview have been reflected in
      discontinued operations for all periods presented.



CABLEVISION SYSTEMS CORPORATION
CONDENSED CONSOLIDATED OPERATIONS DATA AND RECONCILIATION (Cont’d)
(Dollars in thousands, except per share data)
(Unaudited)


ADJUSTMENTS TO RECONCILE ADJUSTED OPERATING CASH FLOW TO
OPERATING INCOME (LOSS)


The following is a description of the adjustments to operating income (loss)
in arriving at adjusted operating cash flow included in this earnings release:

  *Depreciation and amortization (including impairments). This adjustment
    eliminates depreciation and amortization and impairments of long-lived
    assets in all periods.
  *Restructuring credit (expense). This adjustment eliminates the expense or
    credit associated with restructuring activities related to the elimination
    of positions, facility realignment, asset impairments and other related
    activities in all periods.
  *Share-based compensation benefit (expense). This adjustment eliminates the
    compensation benefit (expense) relating to stock options, stock
    appreciation rights, restricted stock, and restricted stock units granted
    under our employee stock plans and non-employee director plans in all
    periods.

          CONSOLIDATED FREE CASH FLOW FROM CONTINUING OPERATIONS^(a)


                                           Nine Months Ended September 30,
                                               2013^(b)        2012^(b)
                                                                  
                                                                  
Net cash provided by operating                 $ 813,593          $ 890,763
activities^(c)
Add: excess tax benefit related to               4,682              -
share-based awards
Less: capital expenditures^(d)                  (740,944 )        (742,232 )
Consolidated free cash flow from               $ 77,331          $ 148,531  
continuing operations


(a)  See Non-GAAP Financial Measures on page 4 of this release for a
      definition and discussion of Free Cash Flow from Continuing Operations.
(b)   Operating results of Bresnan Cable and Clearview have been reflected in
      discontinued operations for all periods presented.
      The level of net cash provided by operating activities will continue to
(c)   depend on a number of variables in addition to our operating
      performance, including the amount and timing of our interest payments
      and other working capital items.
(d)   See page 12 of this release for additional details relating to capital
      expenditures.



CABLEVISION SYSTEMS CORPORATION

CONSOLIDATED RESULTS FROM CONTINUING OPERATIONS

(Dollars in thousands)

(Unaudited)

REVENUES, NET

                           Three Months Ended
                                                            %
                           September 30,
                           2013^(a)         2012^(a)            Change
                                                                   
Cable Television           $ 1,406,963         $ 1,382,027         1.8  %
Lightpath                    82,651              81,273            1.7  %
Eliminations^(b)            (4,100    )        (4,570    )       10.3 %
Telecommunications          1,485,514         1,458,730        1.8  %
Other^(c)                    87,624              85,915            2.0  %
Eliminations^(d)            (5,301    )        (5,130    )       (3.3 )%
Total Cablevision          $ 1,567,837        $ 1,539,515        1.8  %



                           Nine Months Ended
                                                            %
                           September 30,
                           2013^(a)         2012^(a)            Change
                                                                   
Cable Television           $ 4,165,152         $ 4,137,744         0.7  %
Lightpath                    247,596             241,942           2.3  %
Eliminations^(b)            (13,365   )        (14,490   )       7.8  %
Telecommunications          4,399,383         4,365,196        0.8  %
Other^(c)                    265,063             267,349           (0.9 )%
Eliminations^(d)            (15,762   )        (15,982   )       1.4  %
Total Cablevision          $ 4,648,684        $ 4,616,563        0.7  %


(a)  Net revenues of Bresnan Cable and Clearview have been reflected in
      discontinued operations for all periods presented as applicable.
(b)   Represents intra-segment revenues.
(c)   Represents revenues of Newsday, News 12 Networks, Cablevision Media
      Sales Corp., and certain other entities.
(d)   Represents inter-segment revenues.



CABLEVISION SYSTEMS CORPORATION

CONSOLIDATED RESULTS FROM CONTINUING OPERATIONS (Cont’d)

(Dollars in thousands)

(Unaudited)

ADJUSTED OPERATING CASH FLOW AND OPERATING INCOME (LOSS)

                           Adjusted Operating                                     Operating Income
                                                                                                            
                           Cash Flow                                              (Loss)
                           Three Months Ended                                     Three Months Ended
                                                                   %                                                      %
                           September 30,                                          September 30,
                           2013^(a)         2012^(a)            Change         2013^(a)         2012^(a)            Change
                                                                                                                          
Cable Television           $ 447,674           $ 473,005           (5.4  )%       $ 255,840           $ 275,718           (7.2  )%
Lightpath                   38,566            35,968           7.2   %         16,633           13,099             27.0  %
Telecommunications          486,240           508,973          (4.5  )%        272,473          288,817            (5.7  )%
Other^(b)                   (45,100   )        (49,647   )       9.2   %         (47,046 )         (71,154     )       33.9  %
Total Cablevision          $ 441,140          $ 459,326          (4.0  )%       $ 225,427          $ 217,663          3.6   %


                           Adjusted Operating                                     Operating Income

                           Cash Flow                                              (Loss)
                           Nine Months Ended                                      Nine Months Ended
                                                                   %                                                      %
                           September 30,                                          September 30,
                           2013^(a)            2012^(a)            Change         2013^(a)            2012^(a)           Change
                                                                                                                          
Cable Television           $ 1,277,223         $ 1,473,758         (13.3 )%       $ 692,584            $ 908,873          (23.8 )%
Lightpath                   109,186           103,147          5.9   %        42,141               34,717          21.4  %
Telecommunications          1,386,409         1,576,905        (12.1 )%       734,725              943,590         (22.1 )%
Other^(b)                   (158,267  )        (146,228  )       (8.2  )%       (204,148         )    (205,461 )       0.6   %
Total Cablevision          $ 1,228,142        $ 1,430,677        (14.2 )%       $ 530,577           $ 738,129         (28.1 )%



(a)  Operating results of Bresnan Cable and Clearview have been reflected in
      discontinued operations for all periods presented as applicable.
      Includes unallocated corporate general and administrative costs and the
      operating results of Newsday, News 12 Networks, MSG Varsity, Cablevision
(b)   Media Sales Corp., and certain other items. In addition, amounts include
      costs historically allocated to Bresnan Cable and Clearview that were
      not eliminated as a result of the Bresnan Cable and Clearview sales.



CABLEVISION SYSTEMS CORPORATION

SUMMARY OF CABLE TELEVISION OPERATING STATISTICS

(Unaudited)

                          September 30,       June 30,           September 30,
CABLE TELEVISION                                      
                          2013                2013^(a)(b)        2012^(a)
                                                                 
(in thousands)
Total                         3,195             3,224              3,273
Customers^(c)
Video Customers                2,831              2,868               2,943
High-Speed Data                2,774              2,787               2,775
Customers
Voice Customers                2,272              2,290               2,275
                                                    
                                                                 
Serviceable
Passings (in                   5,013              5,004               4,964
thousands)^(d)
                                                                 
Penetration
Total Customers
to Serviceable                 63.7   %           64.4   %            65.9   %
Passings
Video Customers
to Serviceable                 56.5   %           57.3   %            59.3   %
Passings
High-Speed Data
Customers to                   55.3   %           55.7   %            55.9   %
Serviceable
Passings
Voice Customers
to Serviceable                 45.3   %           45.8   %            45.8   %
Passings
                                                    
                                                                 
Revenues for the
three months
ended

(dollars in
millions)
                                                                 
Video^(e)                 $    797            $   793            $    792
High-Speed Data                336                338                 308
Voice                          210                211                 221
Advertising                    40                 37                  37
Other^(f)                    24              23               24     
Total Cable
Television                $   1,407         $  1,402         $   1,382  
Revenue
                                                    
                                                                 
Average Monthly
Cable Television
Revenue per               $    146.11         $   144.74         $    140.72
Customer
(“RPC”)^(g)
Average Monthly
Cable Television
Revenue per Video         $    164.61         $   162.42         $    156.23
Customer
(“RPS”)^(h)


(a)  Operating results of Bresnan Cable have been reflected in discontinued
      operations for all periods presented as applicable.
      Amounts exclude customers located in the areas most severely impacted by
      Superstorm Sandy who we were unable to contact and those whose billing
(b)   we decided to suspend temporarily during restoration of their homes. As
      of June 30, 2013 these customers represented approximately 2 thousand
      total customers, video, high-speed data and voice, respectively.
(c)   Represents the number of households/businesses that receive at least one
      of the Company's services.
(d)   Includes residential and commercial passings.
(e)   Includes equipment rental, DVR, video-on-demand and pay-per-view
      revenue.
(f)   Includes installation revenue, home shopping, advertising sales
      commissions and other product offerings.
      RPC is calculated by dividing average monthly cable television GAAP
(g)   revenue for the quarter by the average number of total customers for the
      quarter.
      RPS is calculated by dividing average monthly cable television GAAP
(h)   revenue for the quarter by the average number of video customers for the
      quarter.



CABLEVISION SYSTEMS CORPORATION

CAPITALIZATION AND LEVERAGE

(Dollars in thousands)

(Unaudited)

CAPITALIZATION

                                                       September 30, 2013
                                                           
Cash and cash equivalents                                  $ 824,298
                                                           
Credit facility debt                                       $ 3,931,618
Senior notes and debentures                                5,175,437
Collateralized indebtedness                                748,445
Capital lease obligations and other                        39,806
Debt                                                       $9,895,306



LEVERAGE

Debt                                                       $9,895,306
Less: Collateralized indebtedness of unrestricted          748,445
subsidiaries^(a)
Cash and cash equivalents                                  824,298
Net debt                                                   $ 8,322,563
                                                           
                                                           Leverage Ratios^(b)
Consolidated net debt to AOCF leverage                     4.7x
ratio^(a)(c)
Restricted Group leverage ratio (Credit Facility           3.2x
Test)^(d)(e)
CSC Holdings notes and debentures leverage                 3.5x
ratio^(e)(f)
Cablevision senior notes leverage ratio^(e)(g)             5.6x


      Collateralized indebtedness is excluded from the leverage calculation
(a)  because it is viewed as a forward sale of the stock of unaffiliated
      companies and the Company's only obligation at maturity is to deliver,
      at its option, the stock or its cash equivalent.
(b)   Leverage ratios are based on face amount of outstanding debt.
(c)   AOCF is annualized based on the third quarter 2013 results, as reported.
      Reflects the net debt to cash flow ratio as defined in the CSC Holdings’
      credit facility debt agreement (which excludes approximately $2.9
(d)   billion of Cablevision’s senior notes and the debt and cash flows
      related to CSC Holdings’ unrestricted subsidiaries which are primarily
      comprised of Newsday). The annualized AOCF (as defined) used in the
      Restricted Group leverage ratio was $1.846 billion.
(e)   Includes CSC Holdings’ guarantee of Newsday LLC’s $640 million senior
      secured credit facility.
      Reflects the debt to cash flow ratio applicable under CSC Holdings’
      senior notes and debentures indentures (which excludes approximately
(f)   $2.9 billion of Cablevision’s senior notes and the debt and cash flows
      related to CSC Holdings’ unrestricted subsidiaries which are primarily
      comprised of Newsday). The annualized AOCF (as defined) used in the CSC
      Holdings notes and debentures leverage ratio was $1.797 billion.
      Adjusts the debt to cash flow ratio as calculated under the CSC Holdings
(g)   notes and debentures leverage ratio to include approximately $2.9
      billion of Cablevision’s senior notes plus $754 million of Cablevision’s
      senior notes that were contributed to Newsday Holdings LLC.



CABLEVISION SYSTEMS CORPORATION

CAPITAL EXPENDITURES

(Dollars in thousands)

(Unaudited)

                                   Three Months Ended
                              
                                   September 30,
                                   2013           2012^(a)
CAPITAL EXPENDITURES
                                                     
Consumer premise equipment         $ 48,894          $ 100,046
Scalable infrastructure              111,398           81,635
Line extensions                      7,451             7,149
Upgrade/rebuild                      9,470             4,726
Support                             32,011          53,904  
Total Cable Television               209,224           247,460
Lightpath                           29,211          21,704  
Total Telecommunications             238,435           269,164
Other^(b)                           6,659           8,645   
Total Cablevision                  $ 245,094        $ 277,809 
                                                               
                                                               
                                   Nine Months Ended

                                   September 30,
                                   2013^(a)          2012^(a)
CAPITAL EXPENDITURES
                                                     
Consumer premise equipment         $ 210,981         $ 234,961
Scalable infrastructure              242,579           239,245
Line extensions                      21,401            23,229
Upgrade/rebuild                      26,467            13,824
Support                             129,163         128,374 
Total Cable Television               630,591           639,633
Lightpath                           81,949          70,579  
Total Telecommunications             712,540           710,212
Other^(b)                           28,404          32,020  
Total Cablevision                  $ 740,944        $ 742,232 


(a)  Capital expenditures for Bresnan Cable and Clearview have been reflected
      in discontinued operations.
(b)   Other primarily includes Newsday, News 12 Networks, MSG Varsity,
      Cablevision Media Sales Corporation and Corporate.


Contact:

Cablevision Systems Corporation
Charles Schueler, 516-803-1013
Executive Vice President
Media and Community Relations
or
Bret Richter, 516-803-2270
Senior Vice President
Financial Strategy & Development
 
Press spacebar to pause and continue. Press esc to stop.