Cablevision (NYSE: CVC) didn’t do as well as analysts had predicted, but it did manage to avoid the struggles that its rivals had in attracting more video subscribers. At the same time, the Newsday segment was mixed. Newsday revenues were down 9.7 percent — pulled down by 12 percent decline in newspaper ad revenues — while its adjusted operating cash was up 3.7 percent. Like most newspapers, the positive cash flow was the result of continued cost-cutting. The overall decline in the company’s net income was attributed to a one-time loss related to the extinguishment of debt.
In addition to the flagship Long Island daily paper and its website, the Newsday segment also includes the free commuter dailyamNewYork and the weekly pennysaver group Star Community Publishing.
In contrast to rivals Comcast (NSDQ: CMCSA) and Time Warner (NYSE: TWX), which lost subscribers in Q2, Cablevision added 2,900 basic video subscribers. The company added 27,000 home internet subs; along with an additional 24,900 phone subs.
Cablevision’s overall cable business saw advertising revenue rise 26.7 percent. Ad sales at subsidiary Rainbow Media, which runs the AMC, WE tv and IFC networks, were up 18.1 percent, driven by higher pricing at AMC (home of Mad Men) and WE tv.
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