Advanced Television

Cablevision loss widens

November 12, 2007

US operator Cablevision reported a wider net loss for the third quarter, but operating income rose 59 per cent as more cable TV customers signed up for high-speed Internet and digital phone services.

Cablevision also trimmed its forecast for full-year growth in cash flow, from 10 per cent to 9 per cent, and said it expects to add fewer customers for premium services in 2007 than it had forecast three months ago.

Cablevision, which also owns Madison Square Garden, Radio City Music Hall and the New York Knicks, posted a loss of $79.3 million (E54m) versus a loss of $59.2 million in the same period a year ago. Revenues rose 9.4 percent to $1.51 billion.

Cablevision’s shares have fallen in tandem with other cable companies over the last three months, partly over concerns about competitive threats from satellite and IPTV.

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