More detail helps lift Cablevision.(Cablevision Systems Corp. financial management strategy)(Brief Article)(Statistical Data Included)

Multichannel News, August, 2002 by Farrell, Mike

Cablevision Systems Corp. last week provided some much-needed detail regarding its capital-expenditure reductions in a quarterly filing with the Securities and Exchange Commission - most notably the reduction of its digital set-top box contract with Sony Corp. from $1 billion to $138 million.

Cablevision executives went before analysts and investors on Aug. 8 to map out their plans to meet a $550 million to $1 billion funding gap in 2003. But the meeting at New York's WaldorfAstoria hotel was largely deemed a failure, because Cablevision CEO James Dolan failed to provide necessary detail. That failure was reflected in Cablevision's stock price, which plunged 16 percent, or $1.28 per share, on Aug. 8. The stock continued to slide in subsequent...

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