Cablevision and Viacom Resolve Litigation
October 16 2015 - 3:30PM
Business Wire
Cablevision Systems Corporation (NYSE:CVC) and Viacom (NASDAQ:
VIAB, VIA) announced today that the two companies have resolved
the antitrust litigation between them related to a 2012
carriage agreement between the companies, and that they are
simultaneously entering into mutually beneficial business
arrangements. Details of the settlement and arrangements were not
disclosed.
The companies issued the following statement:
“We are pleased to have put these matters
behind us in ways that benefit both of our companies and look
forward to working together to benefit Cablevision’s
customers.”
# # #
About Cablevision Systems Corporation
Cablevision Systems Corporation 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
voice services as well as Optimum WiFi, the nation's most robust
WiFi network. The company recently introduced Freewheel, a new
low-cost WiFi-exclusive phone service that provides unlimited data,
talk and text. 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 and Newsday Media Group – Cablevision also
delivers news and information created specifically for the
communities it serves. Additional information about Cablevision is
available at www.cablevision.com.
About Viacom
Viacom is home to premier global media brands that create
compelling television programs, motion pictures, short-form video,
apps, games, consumer products, social media and other
entertainment content for audiences in 180 countries. Viacom's
media networks, including Nickelodeon, Comedy Central, MTV, VH1,
Spike, BET, CMT,TV Land, Nick at Nite, Nick Jr., Channel 5 (UK),
Logo, Nicktoons, TeenNick and Paramount Channel, reach a cumulative
3.4 billion television subscribers worldwide. Paramount Pictures is
a major global producer and distributor of filmed
entertainment.
For more information about Viacom and its businesses, visit
www.viacom.com. Keep up with Viacom news by following Viacom's blog
at blog.viacom.com and Twitter feed at www.twitter.com/viacom
View source
version on businesswire.com: http://www.businesswire.com/news/home/20151016005971/en/
Cablevision Media:Lisa Anselmo,
516-803-2362lanselmo@cablevision.comorViacom Media:Jeremy
Zweig, 212-846-7503jeremy@viacom.com
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