Cablevision (CVC) Comments on WPIX, Tribune Blackouts; Says Should Stop Anti-Consumer Demands
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Price: $15.25 -1.29%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 3.6%
EPS Growth %: -128.6%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 3.6%
EPS Growth %: -128.6%
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Cablevision Systems Corp., (NYSE: CVC) released the following statement related to the blackout of WPIX and other Tribune Company-owned stations on Cablevision:
"The bankrupt Tribune Company and the hedge funds and banks that own it, including Oaktree Capital Management, Angelo Gordon & Co. and others are trying to solve Tribune's financial problems on the backs of Cablevision customers. Tribune and their hedge fund owners are demanding tens of millions in new fees for WPIX and other stations they own. They should stop their anti-consumer demands and work productively to reach an agreement."
WPIX and a number of other Tribune-owned stations carried in portions of Cablevision's service area have been blacked out. The other stations are: WCCT (CW), carried in a small portion of Connecticut; KWGN (CW) carried in some Optimum West markets, and WPHL (MyNetwork), which had been available in a small portion of New Jersey.
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"The bankrupt Tribune Company and the hedge funds and banks that own it, including Oaktree Capital Management, Angelo Gordon & Co. and others are trying to solve Tribune's financial problems on the backs of Cablevision customers. Tribune and their hedge fund owners are demanding tens of millions in new fees for WPIX and other stations they own. They should stop their anti-consumer demands and work productively to reach an agreement."
WPIX and a number of other Tribune-owned stations carried in portions of Cablevision's service area have been blacked out. The other stations are: WCCT (CW), carried in a small portion of Connecticut; KWGN (CW) carried in some Optimum West markets, and WPHL (MyNetwork), which had been available in a small portion of New Jersey.
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