Cablevision Announces Final Tender Offer Results

BETHPAGE, N.Y.--(BUSINESS WIRE)-- Cablevision Systems Corporation (NYSE: CVC) announced today the final results of its previously announced cash tender offer for all of its outstanding 8% Senior Notes due 2012 (“Senior Notes”). The tender offer expired at 11:59 p.m., New York City time, on May 10, 2010 (the “Expiration Date”). The terms and conditions of the tender offer are described in the Offer to Purchase and related Letter of Transmittal, dated April 12, 2010, distributed to holders of the Senior Notes.

The principal amount of Senior Notes listed in the table below has been validly tendered in connection with the tender offer for the Senior Notes.

Holders of Senior Notes who validly tendered their Senior Notes prior to 11:59 p.m., New York City time, on April 26, 2010 (the “Early Tender Date”) received a total consideration of $1,105.00 per $1,000 principal amount of Senior Notes, including an early tender premium of $60.00 per $1,000 principal amount of Senior Notes. Holders who validly tendered their Senior Notes after the Early Tender Date but at or prior to the Expiration Date will receive a tender offer consideration less the early tender premium of $60.00 equal to $1,045.00 per $1,000 principal amount of Senior Notes. In addition to the consideration, Cablevision will pay in cash, in each case, accrued and unpaid interest on all validly tendered Senior Notes from and including April 15, 2010 to, but not including, the applicable date of payment. Payments of the consideration for Senior Notes validly tendered after the Early Tender Date, but at or prior to the Expiration Date, are expected to be made on or about May 11, 2010.

J.P. Morgan Securities Inc., BofA Merrill Lynch, Citigroup Global Markets Inc., and Credit Suisse Securities (USA) LLC are acting as Dealer Managers for the tender offer. The Information Agent for the tender offer is MacKenzie Partners Inc. Holders with questions regarding the tender offer should contact J.P. Morgan Securities Inc. at (800) 245-8812 (toll free) or (212) 270-3994 (collect), BofA Merrill Lynch, Liability Management Group at (888) 292-0700 (toll free) or (646) 855-3401 (collect), Citigroup Global Markets Inc. at (800) 558-3745 (toll free) or (212) 723-6106 (collect), or Credit Suisse Securities (USA) LLC at (800) 820-1653 (toll free) or (212) 538-1862 (collect). Requests for copies of the Offer to Purchase or related Letter of Transmittal should be directed to the Information Agent, MacKenzie Partners Inc., at (800) 322-2885 (toll free) or (212) 929-5500 (collect).

This press release is for informational purposes only and does not constitute an offer to purchase nor the solicitation of an offer to sell the Senior Notes. The tender offer was made only pursuant to the tender offer documents, including the Offer to Purchase and related Letter of Transmittal. The tender offer was not made in any jurisdiction in which such offer, solicitation or acceptance thereof would not have been in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the tender offer was required to be made by a licensed broker or dealer, it shall be deemed to have been made by the Dealer Managers on behalf of Cablevision.

Cablevision Systems Corporation is one of the nation's leading telecommunications, media and entertainment companies. In addition to its Optimum-branded cable, Internet, and voice offerings, Cablevision owns and operates News 12 Networks, MSG Varsity and Newsday Media Group. Cablevision's assets also include Rainbow Media Holdings LLC and its programming and entertainment businesses, AMC, IFC, Sundance Channel, WE tv and IFC Entertainment, as well as Clearview Cinemas. Additional information about Cablevision is available on the Web at www.cablevision.com.

This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that any such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, and that actual results or developments may differ materially from those in the forward-looking statements as a result of various factors, including financial community and rating agency perceptions of Cablevision and its business, operations, financial condition and the industry in which it operates and the factors described in Cablevision's filings with the Securities and Exchange Commission, including the sections entitled “Risk Factors” and “Management's Discussion and Analysis of Financial Condition and Results of Operations” contained therein. Cablevision disclaims any obligation to update the forward-looking statements contained herein.

Cablevision’s obligation to accept any securities tendered and to pay the consideration for them is set forth solely in the Offer to Purchase and related Letter of Transmittal.

This news release is not an offer to purchase or a solicitation of an acceptance of the tender offer. Cablevision may extend or, subject to certain conditions, terminate the tender offer at any time and in its sole discretion.

CONTACT:

Cablevision Systems Corporation
Kim Kerns, 516-803-2351
Vice President
Corporate Communications
or
Patricia Armstrong, 516-803-2264
Senior Vice President
Investor Relations

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