Verizon Communications may be moving its TV service rapaidly into Cablevision's markets, but the cable TV company is taking an eye for an eye: It managed 26 percent growth in subscribers to its voice service during the second quarter, an additional 81,000 subscribers. Cablevision also said in its second quarter earnings report that it had during the same period added 120,000 new digital video customers and 52,000 broadband subscribers.
Overall, the company's down from $317.4 million in the secon quarter last year to about $98.3 million this year, but last year's figure included a gain from the sale of some cable systems. Revenue was up 9 percent in the second quarter to $1.71 billion. The company lost only about 7,000 basic cable customers during the quarter, which may be a sign of good news in the future if Verizon's slowing TV subscriber growth proves to be a long-term trend.
Cablevision also said earlier Thursday that it had completed its acquisition of Newsday.
- see this Associated Press story at Forbes