John Corn
11-07-02, 04:12 PM
NEW YORK (Reuters) - Cablevision Systems Corp. (NYSE:CVC - news), the cable television operator that owns New York sports teams such as the Knicks, on Thursday posted a wider third quarter loss, hurt by bigger losses from discontinued operations, and said it would consider further asset sales.
The Bethpage, N.Y. company also said it would consider more asset sales, including its American Movie Classics cable channel, after earlier this week agreeing to sell its controlling stake in the Bravo cable channel to NBC for $1 billion worth of stock.
Analysts also believe the company also could be willing to sell its soon-to-be-launched satellite.
!n selling the Bravo channel, Cablevision moved toward closing a potential 2003 cash shortage relative to its ambitious spending plans to upgrade its cable systems to compete with satellite.
Full Story (http://story.news.yahoo.com/news?tmpl=story&u=/nm/20021107/bs_nm/media_cablevision_earns_dc_4)
The Bethpage, N.Y. company also said it would consider more asset sales, including its American Movie Classics cable channel, after earlier this week agreeing to sell its controlling stake in the Bravo cable channel to NBC for $1 billion worth of stock.
Analysts also believe the company also could be willing to sell its soon-to-be-launched satellite.
!n selling the Bravo channel, Cablevision moved toward closing a potential 2003 cash shortage relative to its ambitious spending plans to upgrade its cable systems to compete with satellite.
Full Story (http://story.news.yahoo.com/news?tmpl=story&u=/nm/20021107/bs_nm/media_cablevision_earns_dc_4)