Cablevision and Viacom Resolve Litigation
Cablevision Systems Corporation (NYSE:CVC) and Viacom (NASDAQ: VIAB, VIA) announced today that the two companies have resolved the antitrust litigation between them related to a 2012 carriage agreement between the companies, and that they are simultaneously entering into mutually beneficial business arrangements. Details of the settlement and arrangements were not disclosed.
The companies issued the following statement:
“We are pleased to have put these matters behind us in ways that benefit both of our companies and look forward to working together to benefit Cablevision’s customers.”
# # #
About Cablevision Systems Corporation
Cablevision Systems Corporation is a leading media and telecommunications company, serving millions of households and businesses throughout the greater New York area. Providing quality products that keep customers connected, Cablevision offers Optimum-branded digital cable television, high-speed Internet and voice services as well as Optimum WiFi, the nation's most robust WiFi network. The company recently introduced Freewheel, a new low-cost WiFi-exclusive phone service that provides unlimited data, talk and text. Cablevision’s Lightpath subsidiary is a premier provider of integrated business communications solutions for larger companies. Through its local media and programming properties – News 12 Networks and Newsday Media Group – Cablevision also delivers news and information created specifically for the communities it serves. Additional information about Cablevision is available at www.cablevision.com.
Viacom is home to premier global media brands that create compelling television programs, motion pictures, short-form video, apps, games, consumer products, social media and other entertainment content for audiences in 180 countries. Viacom's media networks, including Nickelodeon, Comedy Central, MTV, VH1, Spike, BET, CMT,TV Land, Nick at Nite, Nick Jr., Channel 5 (UK), Logo, Nicktoons, TeenNick and Paramount Channel, reach a cumulative 3.4 billion television subscribers worldwide. Paramount Pictures is a major global producer and distributor of filmed entertainment.