Cablevision Reaches New Content Agreement With CBS
August 25 2015 - 11:13AM
Dow Jones News
By Angela Chen
Cablevision Systems Corp. and CBS Corp. have reached a new
content agreement that covers retransmission consent for CBS-owned
stations.
Financial terms of the multiyear agreement weren't
disclosed.
Cablevision will continue to carry Showtime, CBS Sports Network
and Smithsonian Channel. It will also distribute CBS All Access and
Showtime Internet services to its Optimum Online customers. This
makes it the first distributor to provide CBS's new Internet
services, the companies said in a news release.
Recently, Cablevision posted its first quarter of total customer
growth in more than two years. In the latest quarter, revenue
increased 1.6% to $1.65 billion, but profit fell nearly 20% as
higher programming costs and product and marketing investments
offset rate increases.
Cablevision Chief Executive James Dolan has assured investors
that a "landslide" of cord-cutting likely won't happen in the near
term, though he projected declines over the next several years.
Shares of Cablevision were recently up 1.6%.
Write to Angela Chen at angela.chen@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
August 25, 2015 10:58 ET (14:58 GMT)
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