Cablevision 2014 Annual Report Download - page 7

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PART I
Item 1. Business
This combined Annual Report on Form 10-K is separately filed by Cablevision Systems Corporation ("Cablevision") and CSC
Holdings, LLC ("CSC Holdings" and collectively with Cablevision, the "Company" or the "Registrants").
Cablevision Systems Corporation
Cablevision is a Delaware corporation which was organized in 1997. Cablevision owns all of the outstanding membership interests
in CSC Holdings and its liabilities include approximately $2.8 billion of senior notes which amount does not include approximately
$611 million of its senior notes held by Newsday Holdings LLC ("Newsday Holdings"), its 97.2% owned subsidiary. The $611
million of notes are eliminated in Cablevision's consolidated financial statements and are shown as notes due from Cablevision
in total member's deficiency of CSC Holdings. Cablevision has no operations independent of its CSC Holdings subsidiary.
CSC Holdings
CSC Holdings is one of the largest cable operators in the United States based on the number of video customers. As of December 31,
2014, we served approximately 2.7 million video customers in and around the New York metropolitan area. We believe that our
cable systems (also referred to as our broadband network) in the New York metropolitan area comprise the largest metropolitan
cluster of cable systems under common ownership in the United States (measured by number of video customers). We also provide
high-speed data (also referred to as high-speed Internet access) and Voice over Internet Protocol ("VoIP") services using our
broadband network. Through Cablevision Lightpath, Inc. ("Lightpath"), our wholly-owned subsidiary, we provide Ethernet-based
data, Internet, voice and video transport and managed services, to the business market in the New York metropolitan area. In
addition, through Newsday Holdings, we own approximately 97.2% of Newsday LLC ("Newsday") which operates a newspaper
publishing business. We also own a cable television advertising sales business and regional news programming services businesses.
We classify our operations into three reportable segments: (1) Cable, consisting principally of our video, high-speed data, and VoIP
services; (2) Lightpath; and (3) Other, consisting principally of (i) Newsday, which includes the Newsday daily newspaper, amNew
York, Star Community Publishing Group, and online websites, (ii) the News 12 Networks, which provide regional news
programming services, (iii) Cablevision Media Sales Corporation ("Cablevision Media Sales"), a cable television advertising
company, and (iv) certain other businesses and unallocated corporate costs. Refer to Note 17 to our consolidated financial statements
included in this Annual Report on Form 10-K for financial information about our segments.
On June 27, 2013, we completed the sale of substantially all of our Clearview Cinemas' theaters ("Clearview Cinemas") pursuant
to an asset purchase agreement entered into in April 2013 (the "Clearview Sale"). On July 1, 2013, we completed the sale of our
Bresnan Broadband Holdings, LLC subsidiary ("Bresnan Cable") pursuant to a purchase agreement entered into in February 2013
(the "Bresnan Sale"). For additional information concerning the Clearview Sale and the Bresnan Sale, see "Item 8. Financial
Statements and Supplementary Data".
Effective as of the closing dates of the Clearview Sale and the Bresnan Sale, the Company no longer consolidates the financial
results of Clearview Cinemas and Bresnan Cable. Accordingly, the historical financial results of Clearview Cinemas and Bresnan
Cable have been reflected in the Company's consolidated financial statements as discontinued operations for all periods presented.
Cable
General
Cable television is a service that delivers multiple channels of video programming to subscribers who pay a monthly fee for the
services they receive. Video signals are received over-the-air, by fiber optic transport or via satellite delivery by antennas,
microwave relay stations and satellite earth stations and are modulated, amplified and distributed over a network of coaxial and
fiber optic cable to the subscribers' television.
Cable television systems typically are constructed and operated pursuant to non-exclusive franchises awarded by local and state
governmental authorities for specified periods of time.
Our cable television systems offer varying packages of video service. Our video service is marketed under the "Optimum" brand
name. Our video services may include, among other programming, local broadcast network affiliates and independent television
stations, certain other news, information, sports and entertainment channels such as CNN, AMC, CNBC, ESPN, MTV, The NFL
Network and regional sports networks such as MSG Network, and certain premium services such as HBO, Showtime, The Movie