Cablevision 2012 Annual Report Download - page 40

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Additionally on June 30, 2011, CSC Holdings distributed to Cablevision all of the outstanding common
stock of AMC Networks.
CSC Holdings may make distributions on its membership interests only if sufficient funds exist as
determined under Delaware law.
CSC Holdings' indentures and CSC Holdings credit agreement restrict the amount of dividends and
distributions in respect of any equity interest that can be made.
Recent Sales and Use of Proceeds
In June 2010, Cablevision's Board of Directors authorized the repurchase of up to $500 million of CNYG
Class A common stock. In February 2011, Cablevision's Board of Directors authorized the repurchase of
up to an additional $500 million of CNYG Class A common stock. In May 2012, Cablevision's Board of
Directors authorized the repurchase of up to another $500 million of CNYG Class A common stock
giving the Company the ability to repurchase up to a total of $1.5 billion of CNYG Class A common
stock since inception of the program. Under the repurchase program, shares of CNYG Class A common
stock may be purchased from time to time in the open market. The program does not have an expiration
date and may be suspended at any time at the discretion of the Board of Directors. There were no
repurchases during the fourth quarter of 2012. As of December 31, 2012, the Company had
$455.3 million of availability remaining under its stock repurchase authorizations.