Cablevision Announces Offering of $1 Billion of Senior Notes

BETHPAGE, N.Y.--(BUSINESS WIRE)-- Cablevision Systems Corporation (NYSE: CVC) today announced that it is planning a public offering of $1 billion aggregate principal of senior notes due 2018 and senior notes due 2020.

Cablevision intends to use the net proceeds, along with cash on hand, to address the company’s upcoming debt maturities by making a tender offer for all of its 8% Senior Notes due 2012 and for general corporate purposes.

The senior notes are being offered pursuant to the Company's existing shelf registration statement, which became automatically effective upon filing with the Securities and Exchange Commission. A preliminary prospectus supplement and accompanying prospectus describing the terms of the offering will be filed with the Securities and Exchange Commission. J.P. Morgan Securities Inc. will act as one of the joint book-runners for the offering. When available, copies of the preliminary prospectus supplement and accompanying prospectus for the offering may be obtained from: J.P. Morgan Securities Inc., 212-834-4533 (collect).

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, the company 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 the company and its business, operations, financial condition and the industry in which it operates and the factors described in the Company'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. The Company disclaims any obligation to update the forward-looking statements contained herein.

CONTACT:

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

KEYWORDS:   United States  North America  New York

INDUSTRY KEYWORDS:   Entertainment  TV and Radio  Technology  Other Entertainment  Internet  Telecommunications  Other Technology  Professional Services  Banking  Finance

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