Last $19.90 USD
Change Today -0.20 / -1.00%
Volume 2.5M
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As of 3:23 PM 12/22/14 All times are local (Market data is delayed by at least 15 minutes).

cablevision systems-ny grp-a (CVC) Key Developments

Cablevision Systems Appoints Mickey Paxton as Senior Vice President and Executive Director of Creative Services

Cablevision Systems has appointed Mickey Paxton as senior vice president and executive director of creative services. In the new role, Paxton is in charge of the execution of the company's marketing and brand initiatives, supporting the firm s suite of Optimum-branded products and services, including oversight of both internal and external creative services teams.

The National Labor Relations Board Rules Cablevision Systems Corp. over Violated Federal Labor Law

The National Labor Relations Board ruled that Cablevision Systems Corp. and its CEO James Dolan have violated federal labor law. The ruling stemmed from allegations that Cablevision illegally fired workers, bargained in bad faith and spied on employees in Brooklyn, N.Y. The company is also accused of illegally intimidating, harassing and essentially bribing workers during a union representation election in the Bronx, N.Y. The union that represents the workers, the Communications Workers of America, vowed to press New York City to begin a process to bring the company into compliance with its cable franchise, and if necessary declare it in default of the franchise, for violations of the labor rights provisions of the agreement. The franchise requires the company to comply with federal labor law.

Cablevision Systems Corporation Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Cablevision Systems Corporation reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company's revenues, net was $1,626,187,000 compared to $1,567,837,000 a year ago. Operating income was $252,446,000 compared to $225,427,000 a year ago. Income from continuing operations before income taxes was $120,714,000 compared to $93,920,000 a year ago. Income from continuing operations was $71,901,000 compared to $59,748,000 a year ago. Net income was $71,822,000 compared to $295,034,000 a year ago. Net income attributable to the company stockholders was $71,491,000 or $0.26 per diluted share compared to $294,601,000 or $1.10 per diluted share a year ago. Income attributable to the company stockholders from continuing operations, net of income taxes was $71,570,000 or $0.26 per diluted share compared to $59,315,000 or $0.22 per diluted share a year ago. Adjusted operating cash flow increased 6.9% to $471.7 million. Capital expenditures were $205 million, and free cash flow was $116 million. For the nine months, the company's revenues, net was $4,829,910,000 compared to $4,648,684,000 a year ago. Operating income was $715,422,000 compared to $530,577,000 a year ago. Income from continuing operations before income taxes was $336,785,000 compared to $124,873,000 a year ago. Income from continuing operations was $253,063,000 compared to $80,837,000 a year ago. Net income was $256,060,000 compared to $414,353,000 a year ago. Net income attributable to the company stockholders was $255,464,000 or $0.95 per diluted share compared to $413,819,000 or $1.56 per diluted share a year ago. Income attributable to the company stockholders from continuing operations, net of income taxes was $252,467,000 or $0.94 per diluted share compared to $80,303,000 or $0.30 per diluted share a year ago. Net cash provided by operating activities was $1,029,004,000 compared to $813,593,000 a year ago. Net debt as on September 30, 2014 was $7,918,264,000.

Cablevision Systems Corporation Declares Quarterly Dividend, Payable on December 12, 2014

On November 5, 2014, the board of directors of Cablevision Systems Corporation declared a quarterly dividend of $0.15 per share on each outstanding share of Cablevision NY Group Class A common stock and Cablevision NY Group Class B common stock. This quarterly dividend is payable on December 12, 2014 to shareholders of record at the close of business on November 21, 2014.

The Madison Square Garden Company Teams Up with Cablevision Systems Corporation for Valuable Audience Analytics and Insights

The Madison Square Garden Company announced that it has teamed up with Cablevision Systems Corporation to provide MSG with meaningful audience analytics and insights based on Cablevision's census-level audience data. MSG will use these comprehensive analytics across the company to optimize television viewing and ad placement and pricing, as well as marketing campaigns that focus on ticket sales and engaging sponsorships and advertisers, enabling the company to better serve and grow its customer base. MSG is also planning a pilot with Cablevision to test making its MSG and MSG+ networks addressable to the household for advertisers within the Cablevision footprint. The two regional sports networks will use this capability, in conjunction with the data analytics, to enable them to selectively segment their audience and serve with different ads for the execution of efficient and effective targeted marketing, sponsorship and sales campaigns.

 

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