Cablevision 2011 Annual Report Download - page 146

COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Dollars in thousands, except per share amounts)
I-22
NOTE 1. DESCRIPTION OF BUSINESS, RELATED MATTERS AND BASIS OF
PRESENTATION
The Company and Related Matters
Cablevision Systems Corporation ("Cablevision"), its wholly-owned subsidiary CSC Holdings, LLC
("CSC Holdings," and collectively with Cablevision, the "Company") and their subsidiaries own and
operate cable television systems and own companies that provide regional news, other programming and
advertising sales services for the cable television industry, provide telephone service, operate motion
picture theatres and operate a newspaper publishing business. The Company classifies its operations into
two reportable segments: (1) Telecommunications Services, consisting principally of its video, high-
speed data, Voice over Internet Protocol ("VoIP") and its commercial data and voice services operations;
and (2) Other, consisting principally of (i) Newsday, which includes the Newsday daily newspaper,
amNew York, Star Community Publishing Group, and online websites including newsday.com and
exploreLI.com, (ii) a motion picture theatre business ("Clearview Cinemas"), (iii) the News 12 Networks,
which provides regional news programming services, (iv) the MSG Varsity network, a network dedicated
entirely to showcasing high school sports and activities, (v) a cable television advertising company,
Cablevision Media Sales Corporation ("Cablevision Media Sales"), previously known as Rainbow
Advertising Sales Corporation, and (vi) certain other businesses and unallocated corporate costs.
On February 9, 2010, Cablevision distributed to its stockholders all of the outstanding common stock of
The Madison Square Garden Company ("Madison Square Garden"), a company which owns the sports,
entertainment and media businesses previously owned and operated by the Company's Madison Square
Garden segment (the "MSG Distribution"). The MSG Distribution took the form of a distribution by
Cablevision of one share of Madison Square Garden Class A Common Stock for every four shares of
Cablevision NY Group ("CNYG") Class A Common Stock held of record at the close of business in New
York City on January 25, 2010 (the "MSG Distribution Record Date") and one share of Madison Square
Garden Class B Common Stock for every four shares of CNYG Class B Common Stock held of record on
the MSG Distribution Record Date. As a result of the MSG Distribution, the Company no longer
consolidates the financial results of Madison Square Garden for the purpose of its own financial reporting
and the historical financial results of Madison Square Garden have been reflected in the Company's
consolidated financial statements as discontinued operations for all periods presented through the MSG
Distribution date.
On June 30, 2011, Cablevision distributed to its stockholders all of the outstanding common stock of
AMC Networks Inc., formerly Rainbow Media Holdings LLC, ("AMC Networks"), a company which
consists principally of national programming networks, including AMC, WE tv, IFC and Sundance
Channel, previously owned and operated by the Company's Rainbow segment (the "AMC Networks
Distribution"). The AMC Networks Distribution took the form of a distribution by Cablevision of one
share of AMC Networks Class A Common Stock for every four shares of Cablevision NY Group
("CNYG") Class A Common Stock held of record on June 16, 2011 (the "AMC Networks Distribution
Record Date") and one share of AMC Networks Class B Common Stock for every four shares of CNYG
Class B Common Stock held of record on the AMC Networks Distribution Record Date. As a result of
the AMC Networks Distribution, the Company no longer consolidates the financial results of AMC
Networks for the purpose of its own financial reporting and the historical financial results of AMC
Networks have been reflected in the Company's consolidated financial statements as discontinued
operations for all periods presented through the AMC Networks Distribution date.