Cablevision Systems Corp.
Industry: Broadcasting & Cable TV

Cablevision Systems Corporation is engaged primarily in the business of cable television. The Company's businesses include the residential telephone and high-speed modem businesses; the commercial telephone and Internet operations of Lightpath; the New York metropolitan area sports and entertainment business, including Madison Square Garden,professional sports teams, Radio City Music Hall, MSG Network and Fox Sports Net New York, as well as the MetroChannels and the regional news businesses, doing business as News 12 Networks in the New York metropolitan area; the electronics retail operations of Cablevision Electronics, doing business as The WIZ; and the motion picture theater business, doing business as Clearview Cinemas.

Business Summary
Cablevision Systems Corporation is a cable operator in the United States. The Company also operates cable programming networks, entertainment businesses and telecommunications companies. As of December 31, 2004, the Company served approximately 2.96 million cable television subscribers in and around the New York City metropolitan area. Through subsidiary, Rainbow Media Holdings LLC, the Company owns interests in and manages national and regional programming networks, the Madison Square Garden sports and entertainment business, and cable television advertising sales companies. Through Cablevision Lightpath, Inc., the Company provides telephone services and Internet access to the business market. The Company also owns or has interests in a number of other businesses and companies that include Clearview Cinemas, a chain of 53 movie theaters, and Rainbow DBS, a direct broadcast satellite provider. The Company operates in four business segments.

Financial Summary
CVC is a telecommunications company, offering cable television, Internet access, and telephone services. It also has interests in programming networks and entertainment businesses. For the 6 months ended 6/30/05, revenues rose 6% to $2.45B. Net loss from cont ops. fell 58% to $107M. Revenues reflect growth in the Telecommunications segment. Lower loss reflects a $65.5M gain on sale of affiliate interest and the absence of loss on extinguishment of debt.