Cablevision Reports Third Quarter 2007 Results

“¢ Cable Television net revenue growth of 9.7% compared to the third quarter of 2006
“¢ Quarterly Revenue Generating Unit (“RGU”) growth of 161,000 including 177,000 new digital video, high-speed data and voice units, partially offset by a 16,000 basic video subscriber loss
“¢ Madison Square Garden AOCF increase of $16.3 million over the prior year period
“¢ Rainbow AOCF growth of 41.5% compared to the third quarter of 2006

BETHPAGE, N.Y. — Cablevision Systems Corporation (NYSE:CVC) today reported financial results for the third quarter ended September 30, 2007.

Third quarter consolidated net revenue grew 9.4% to $1.512 billion compared to the prior year period, reflecting solid revenue growth in Telecommunications Services and Rainbow. Consolidated adjusted operating cash flow (“AOCF”) 1 increased 15.5% to $494.3 million and consolidated operating income grew 59.1% to $202.1 million.

Cable Television

Cable Television third quarter 2007 net revenues increased 9.7% to $1,135.5 million, AOCF rose 8.5% to $431.2 million and operating income increased 21.2% to $211.7 million, each compared to the prior year period. The increases in net revenue, AOCF and operating income resulted principally from growth in digital video, high-speed data, and voice customers, which is reflected in the net addition of 871,000 Revenue Generating Units since the third quarter of 2006.

The third quarter 2007 results reflect:
“¢ Basic video customers down 16,000 or 0.5% from June 2007 and up 11,000 or 0.4% from September 2006
“¢ iO: Interactive Optimum digital video customers up 35,000 or 1.4% from June 2007 and 221,000 or 9.3% from September 2006
“¢ Optimum Online high-speed data customers up 52,000 or 2.4% from June 2007 and 256,000 or 13.0% from September 2006
“¢ Optimum Voice customers up 91,000 or 6.5% from June 2007 and 389,000 or 35.4% from September 2006
“¢ Revenue Generating Units up 161,000 or 1.7% from June 2007 and 871,000 or 10.2% from September 2006
“¢ Cable Television RPS of $120.91, down $0.10 from the second quarter of 2007 and up $9.78 or 8.8% from the third quarter of 2006