Cablevision Loss Widens, but Sales Climb
05/08/08 - 03:19 PM EDT
Robert Holmes
Cablevision's earnings statement comes a day after the company said it will purchase the Sundance Channel for $496 million from General Electric (GE Quote - Cramer on GE - Stock Picks), CBS (CBS Quote - Cramer on CBS - Stock Picks) and entities controlled by the channel's founder Robert Redford. The cable network will become part of Cablevision's Rainbow Media.
The cable operator's results come a week after rival Comcast (CMCSA Quote - Cramer on CMCSA - Stock Picks) reported better-than-expected top line results. Charter (CHTR Quote - Cramer on CHTR - Stock Picks) is set to report quarterly results Monday.
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