Oh Sandy—Cablevision 4Q Call Tackles Storm, Viacom & RSN Fees
By | March 1, 2013
Cablevision shares sank 9.5% Thurs after the MSO reported a $110mln financial impact on AOCF in 4Q from Superstorm Sandy (-44% to $350mln). “The storm had a significant negative impact on our customer metrics in 4Q,” CEO Jim Dolan said during CVC’s earnings call. Cablevision suspended normal collection efforts and non-pay disconnects because of the storm and estimated the number of accounts that it believes would have been disconnected. Here’s what that means in terms of customer losses from video, HSD and voice. Additionally, Dolan comments on escalating programming costs and the Viacom lawsuit filed this week.
More top stories in today’s CableFAX Daily:
A federal jury awarded DISH $4.9mln from ESPN Thurs, far less than the more than $150mln the satellite company had sought in the breach of contract case. But the DBS company prevailed on one of its claims.
The 10pm Season 3 premiere of A&E’s “Duck Dynasty” made for the net’s most-watched telecast of all time among all key demos. More details on the ratings win here.
In a joint hearing with the Senate Homeland Security and Governmental Affairs committee, members will examine President Obama’s Executive Order on cybersecurity. Meanwhile, discussions on media violence continue on the Hill.