Cablevision 2014 Annual Report Download - page 12

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6
Lightpath
Lightpath is a regional provider to businesses of fiber based telecommunications, including Ethernet, data transport, Internet
protocol ("IP") based virtual private networks, Internet access, voice services, including session initiation protocol ("SIP") trunking,
and VoIP services. Lightpath also provides managed information technology services to businesses, including hosted voice services
(cloud based SIP-based private branch exchange ("IP-PBX")), managed WiFi, managed desktop and server backup, and managed
collaboration services including audio and web conferencing. Lightpath's customers include, among others, companies in health
care, financial, education, legal and professional services, and other industries, as well as the public sector and telecommunication
providers (wireless telecommunication companies, incumbent local exchange carriers ("ILEC"), and competitive local exchange
carriers ("CLEC")).
As of December 31, 2014, Lightpath had over 7,300 buildings connected to its fiber network. Lightpath has built an advanced
fiber optic network extending more than 6,100 route miles, which includes approximately 317,000 miles of fiber, throughout the
New York metropolitan area. Lightpath holds a franchise from New York City which grants rights of way authority to provide
telecommunications services throughout the five boroughs. The franchise expired on December 20, 2008 and the renewal process
with New York City is ongoing. We believe we will be able to obtain renewal of the franchise and have received assurance from
New York City that the expiration date of the franchise is being treated as extended until a formal determination on renewal is
made. Failure to ultimately obtain renewal of the franchise could negatively affect Lightpath's revenues.
Other
Newsday
Newsday consists of the Newsday daily newspaper, amNew York, Star Community Publishing Group and online websites. Newsday
has also developed and deployed applications for iPhone, iPad, Kindle and Android devices.
Our publications are distributed through both paid and free distribution in various ways across Long Island and the New York
metropolitan service area. Our products include:
• the Newsday daily newspaper, which is primarily distributed on Long Island and in the New York metropolitan area;
• amNew York, a free daily newspaper distributed in New York City; and
• Star Community Publishing, a weekly shopper publication, which is primarily distributed on Long Island.
News 12 Networks
Our regional news services include News 12 Long Island, News 12 New Jersey, News 12 Westchester, News 12 Connecticut,
News 12 The Bronx, News 12 Brooklyn, News 12 Hudson Valley, and News 12 Interactive, as well as News 12 Traffic and Weather
(collectively, the "News 12 Networks"). The News 12 Networks include seven 24-hour local news channels and five traffic and
weather services dedicated to covering areas within the New York metropolitan area. News 12 Networks is available to all
subscribers throughout our footprint in the New York metropolitan area.
Cablevision Media Sales
Cablevision Media Sales is a cable television advertising company that derives its revenues primarily from the sale of local and
regional commercial advertising time on cable television networks in the New York metropolitan area, which offers advertisers
the opportunity to target specific geographic and demographic audiences.
Investment in Comcast Corporation Common Stock
We own 21,477,618 shares of Comcast common stock acquired in connection with the sale of certain cable systems in prior years.
All of these shares have been monetized pursuant to collateralized prepaid forward contracts. See "Item 7A. Quantitative and
Qualitative Disclosures About Market Risk" for a discussion of our monetization contracts.
Bresnan Cable
On July 1, 2013, the Company completed the sale of Bresnan Cable for a purchase price of $1.625 billion, receiving net cash of
approximately $675 million, which reflects certain adjustments, including an approximate $962 million reduction for certain funded
indebtedness of Bresnan Cable, and transaction costs. Bresnan Cable includes cable systems in Montana, Wyoming, Colorado
and Utah, previously included in the Company's Cable segment. The Company recorded a pre-tax gain of approximately $408
million for the year ended December 31, 2013 relating to the Bresnan Sale. During 2014, the Company recorded an additional