CVC » Topics » CSC HOLDINGS, INC.

This excerpt taken from the CVC 8-K filed Jun 2, 2009.

CSC HOLDINGS, INC.

(Exact name of registrant as specified in its charter)

 

Delaware

 

No. 1-9046

 

No. 11-2776686

(State or other jurisdiction of

incorporation or organization)

 

(Commission File Number)

 

(IRS Employer Identification No.)

 

This excerpt taken from the CVC 10-Q filed May 7, 2009.

CSC HOLDINGS, INC.

 

The consolidated statements of operations of CSC Holdings are essentially identical to the consolidated statements of operations of Cablevision, except for the following:

 

·                 Interest expense of $30,189 and $33,395 for the three months ended March 31, 2009 and 2008, respectively, relating to Cablevision senior notes issued in April 2004 included in Cablevision’s consolidated statements of operations,

·                 Interest income of $35 and $231 for the three months ended March 31, 2009 and 2008, respectively, related to cash held at Cablevision,

·                 Interest income of $15,513 included in CSC Holdings’ consolidated statements of operations for the three months ended March 31, 2009 related to interest on 8% senior notes due 2012 and the accretion of the discount related to the notes issued by Cablevision in connection with the Newsday Transaction contributed to CSC Holdings (this interest income is eliminated in the condensed consolidated statements of operations of Cablevision),

·                 Write-off of deferred financing costs of $72 and loss on extinguishment of debt of $498 for the three months ended March 31, 2009 related to the repurchase of a portion of Cablevision’s April 2009 senior notes pursuant to a tender offer, and

·                 Income tax benefit (expense) of $19,060 and $14,278 for the three months ended March 31, 2009 and 2008, respectively, included in Cablevision’s consolidated statements of operations related to the items listed above.

 

Refer to Cablevision’s Management’s Discussion and Analysis of Financial Condition and Results of Operations herein.

 

This excerpt taken from the CVC 8-K filed Mar 16, 2009.
CSC HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
         
Delaware   No. 1-9046   No. 11-2776686
         
(State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification Number)
     
1111 Stewart Avenue    
Bethpage, New York   11714
     
(Address of principal executive offices)   (Zip Code)
Registrant’s telephone number, including area code: (516) 803-2300
N/A
(Former name or former address, if changed since last report)
     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 


TABLE OF CONTENTS

Item 8.01 Other Events
Item 9.01 Financial Statements and Exhibits
SIGNATURES
EX-99.1: PRESS RELEASE


Table of Contents

Item 8.01 Other Events
          On March 16, 2009, Cablevision Systems Corporation (“Cablevision”) and CSC Holdings, Inc. (“CSC Holdings”) issued a press release announcing the expiration and final results of the cash tender offers commenced February 13, 2009 for any and all of Cablevision’s outstanding Floating Rate Senior Notes due 2009 and any and all of CSC Holdings’ outstanding 8.125% Senior Notes due July 2009 and 8.125% Senior Debentures due August 2009. A copy of the press release containing the announcement is included as Exhibit 99.1 to this Current Report on Form 8-K.

2


Table of Contents

Item 9.01 Financial Statements and Exhibits
  (d)   
 
  99.1   Press Release dated March 16, 2009.

3


Table of Contents

SIGNATURES
     Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
         
  CABLEVISION SYSTEMS CORPORATION
(Registrant)
 
 
  By:   /s/ Michael P. Huseby    
    Name:   Michael P. Huseby   
    Title:   Executive Vice President and
Chief Financial Officer 
 
 
Dated: March 16, 2009
     Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
         
  CSC HOLDINGS, INC.
(Registrant)
 
 
  By:   /s/ Michael P. Huseby    
    Name:   Michael P. Huseby   
    Title:   Executive Vice President and
Chief Financial Officer 
 
 
Dated: March 16, 2009

4

This excerpt taken from the CVC 8-K filed Mar 2, 2009.
CSC HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
         
Delaware   No. 1-9046   No. 11-2776686
         
(State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification Number)
     
1111 Stewart Avenue    
Bethpage, New York   11714
     
(Address of principal executive offices)   (Zip Code)
Registrant’s telephone number, including area code: (516) 803-2300
N/A
 
(Former name or former address, if changed since last report)
     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 


 

Item 8.01 Other Events
     On March 2, 2009, Cablevision Systems Corporation (“Cablevision”) and CSC Holdings, Inc. (“CSC Holdings”) issued a press release announcing the results to date of the cash tender offers commenced February 13, 2009 for any and all of Cablevision’s outstanding Floating Rate Senior Notes due 2009 and any and all of CSC Holdings’ outstanding 8.125% Senior Notes due July 2009 and 8.125% Senior Debentures due August 2009. A copy of the press release containing the announcement is included as Exhibit 99.1 to this Current Report on Form 8-K.

2


 

Item 9.01 Financial Statements and Exhibits
     (d)
  99.1   Press Release dated March 2, 2009.

3


 

SIGNATURES
     Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
         
  CABLEVISION SYSTEMS
CORPORATION
(Registrant)
 
 
  By:   /s/ Michael P. Huseby    
    Name:   Michael P. Huseby   
    Title:   Executive Vice President and
Chief Financial Officer 
 
 
Dated: March 2, 2009
     Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
         
  CSC HOLDINGS, INC.
(Registrant)
 
 
  By:   /s/ Michael P. Huseby    
    Name:   Michael P. Huseby   
    Title:   Executive Vice President and
Chief Financial Officer 
 
 
Dated: March 2, 2009

4

These excerpts taken from the CVC 10-K filed Feb 26, 2009.

CSC HOLDINGS, INC.

 

The statements of operations of CSC Holdings are essentially identical to the statements of operations of Cablevision, except for the following:

 

·                  Interest expense of $125,874, $134,446 and $132,784 for the years ended December 31, 2008, 2007 and 2006, respectively, relating to $1,500,000 of Cablevision senior notes issued in April 2004 included in Cablevision’s consolidated statements of operations,

·                  Interest income of $591, $3,453 and $3,958 for the years ended December 31, 2008, 2007 and 2006, respectively, related to cash held at Cablevision,

·                  Interest income of $26,155 included in CSC Holdings’ consolidated statements of operations for the year ended December 31, 2008 related to interest on 8% senior notes due 2012 and the accretion of the discount related to the notes issued by Cablevision in connection with the Newsday Transaction contributed to CSC Holdings (this interest income is eliminated in the consolidated statements of operations of Cablevision),

·                  Miscellaneous income of $4 included in Cablevision’s consolidated statement of operations for the year ended December 31, 2008, and

·                  Net income tax benefit of $59,645, $55,448 and $52,831 for the years ended December 31, 2008, 2007 and 2006, respectively, included in Cablevision’s consolidated statements of operations related to the items listed above.

 

Refer to Cablevision’s Management’s Discussion and Analysis of Financial Condition and Results of Operations herein.

 

CSC HOLDINGS, INC.



 



The statements of operations of CSC
Holdings are essentially identical to the statements of operations of
Cablevision, except for the following:



 



·                  Interest
expense of $125,874, $134,446 and $132,784 for the years ended December 31,
2008, 2007 and 2006, respectively, relating to $1,500,000 of Cablevision senior
notes issued in April 2004 included in Cablevision’s consolidated
statements of operations,



·                  Interest
income of $591, $3,453 and $3,958 for the years ended December 31, 2008,
2007 and 2006, respectively, related to cash held at Cablevision,



·                  Interest
income of $26,155 included in CSC Holdings’ consolidated statements of
operations for the year ended December 31, 2008 related to interest on 8%
senior notes due 2012 and the accretion of the discount related to the notes
issued by Cablevision in connection with the Newsday Transaction contributed to
CSC Holdings (this interest income is eliminated in the consolidated statements
of operations of Cablevision),



·                  Miscellaneous
income of $4 included in Cablevision’s consolidated statement of operations for
the year ended December 31, 2008, and



·                  Net
income tax benefit of $59,645, $55,448 and $52,831 for the years ended December 31,
2008, 2007 and 2006, respectively, included in Cablevision’s consolidated
statements of operations related to the items listed above.



 



Refer to Cablevision’s Management’s
Discussion and Analysis of Financial Condition and Results of Operations
herein.



 



This excerpt taken from the CVC 8-K filed Feb 9, 2009.
CSC HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
         
Delaware   No. 1-9046   No. 11-2776686
         
(State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification Number)
     
1111 Stewart Avenue    
Bethpage, New York   11714
     
(Address of principal executive offices)   (Zip Code)
Registrant’s telephone number, including area code: (516) 803-2300
N/A
 
(Former name or former address, if changed since last report)
     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 


TABLE OF CONTENTS

Item 2.06 Material Impairments
SIGNATURES


Table of Contents

Item 2.06 Material Impairments
     In connection with the preparation of the financial statements of Cablevision Systems Corporation and CSC Holdings, Inc. (collectively, the “Companies”) to be included in their Annual Report on Form 10-K for the year ended December 31, 2008, the management of the Companies has concluded that charges for impairment of certain assets of the Companies’ newspaper publishing group would be required under generally accepted accounting principles. Based on currently available information, the Companies expect to incur between approximately $375 million and $450 million of pre-tax impairment charges under generally accepted accounting principles related to impairments of excess costs over fair value of net assets acquired and other indefinite and definite lived intangible assets. These impairment charges reflect the continuing deterioration of values in the newspaper industry and the greater than anticipated economic downturn and its current and anticipated impact on the newspaper publishing group’s advertising business. The impairment charges are not expected to result in any material future cash expenditures.
     These impairment charges are expected to be reflected in the Companies’ 2008 annual financial statements. The final conclusion as to the amount of these charges will be made in connection with the completion of the financial statements to be included in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2008.

2


Table of Contents

SIGNATURES
     Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
         
  CABLEVISION SYSTEMS CORPORATION
(Registrant)
 
 
  By:   /s/ Michael P. Huseby   
    Name:   Michael P. Huseby   
    Title:   Executive Vice President
and Chief Financial Officer 
 
 
Dated: February 9, 2009
     Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
         
  CSC HOLDINGS, INC.
(Registrant)
 
 
  By:   /s/ Michael P. Huseby   
    Name:   Michael P. Huseby   
    Title:   Executive Vice President
and Chief Financial Officer 
 
 
Dated: February 9, 2009

3

This excerpt taken from the CVC 10-Q filed Nov 6, 2008.

CSC HOLDINGS, INC.

 

The statements of operations of CSC Holdings are essentially identical to the statements of operations of Cablevision, except for the following:

 

·

 

Interest expense of $30,331 and $33,754 and $93,948 and $100,915 for the three and nine months ended September 30, 2008 and 2007, respectively, relating to $1,500,000 of Cablevision senior notes issued in April 2004 included in Cablevision’s consolidated statements of operations,

 

66



Table of Contents

 

·

 

Interest income of $157 and $569 and $529 and $3,141 for the three and nine months ended September 30, 2008 and 2007, respectively, related to cash held at Cablevision,

·

 

Interest income of $10,664 included in CSC Holdings’ consolidated statements of operations for the three and nine months ended September 30, 2008 related to interest on 8% senior notes due 2012 and the accretion of the discount related to the notes issued by Cablevision in connection with the Newsday Transaction contributed to CSC Holdings (this interest income is eliminated in the condensed consolidated statements of operations of Cablevision), and

·

 

Income tax benefit (expense) of $16,347 and $(4,044) and $43,283 and $21,907 for the three and nine months ended September 30, 2008 and 2007, respectively, included in Cablevision’s consolidated statements of operations related to the items listed above.

 

Refer to Cablevision’s Management’s Discussion and Analysis of Financial Condition and Results of Operations herein.

 

This excerpt taken from the CVC 8-K filed Oct 10, 2008.

CSC HOLDINGS, INC.

(Exact name of registrant as specified in its charter)

 

Delaware

 

No. 1-9046

 

No. 11-2776686

(State or other jurisdiction of incorporation)

 

(Commission File Number)

 

(IRS Employer Identification Number)

 

 

 

 

 

1111 Stewart Avenue

 

 

Bethpage, New York

 

11714

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code: (516) 803-2300

 

This excerpt taken from the CVC 10-Q filed Aug 1, 2008.

CSC HOLDINGS, INC.

 

The statements of operations of CSC Holdings are essentially identical to the statements of operations of Cablevision, except for the following:

 

·                  Interest expense of $30,222 and $33,618 and $63,617 and $67,161 for the three and six months ended June 30, 2008 and 2007, respectively, relating to $1,500,000 of Cablevision senior notes issued in April 2004 included in Cablevision’s consolidated statements of operations,

·                  Interest income of $141 and $855 and $372 and $2,572 for the three and six months ended June 30, 2008 and 2007, respectively, related to cash held at Cablevision, and

·                  Income tax benefit of $12,658 and $12,899 and $26,936 and $25,951 for the three and six months ended June 30, 2008 and 2007, respectively, included in Cablevision’s consolidated statements of operations related to the items listed above.

 

Refer to Cablevision’s Management’s Discussion and Analysis of Financial Condition and Results of Operations herein.

 

This excerpt taken from the CVC 8-K filed Jun 5, 2008.

CSC HOLDINGS, INC.

(Exact name of registrant as specified in its charter)

 

Delaware

(State or other jurisdiction of incorporation)

No. 1-9046

(Commission File Number)

 

No. 11-2776686

(IRS Employer Identification Number)

 

 

 

 

1111 Stewart Avenue

Bethpage, New York

(Address of principal executive offices)

 

 

11714

(Zip Code)

 

Registrant’s telephone number, including area code: (516) 803-2300

 

This excerpt taken from the CVC 8-K filed May 27, 2008.

CSC HOLDINGS, INC.

 

The statements of operations of CSC Holdings are identical to the statements of operations of Cablevision, except for the following:

 

·                  Interest expense of $134,446, $132,784 and $124,498 for the years ended December 31, 2007, 2006 and 2005, respectively, relating to $1,500,000 of Cablevision senior notes issued in April 2004 included in Cablevision’s consolidated statements of operations,

·                  Interest income of $3,453, $3,958 and $89 for the years ended December 31, 2007, 2006 and 2005, respectively, related to cash held at Cablevision,

·                  Miscellaneous expenses of $177 included in Cablevision’s consolidated statement of operations for the year ended December 31, 2005, and

·                  Net income tax benefit of $55,448, $52,831 and $50,993 for the years ended December 31, 2007, 2006 and 2005, respectively, included in Cablevision’s consolidated statements of operations related to the items listed above.

 

Refer to Cablevision’s Management’s Discussion and Analysis of Financial Condition and Results of Operations herein.

 

This excerpt taken from the CVC 8-K filed May 14, 2008.
CSC HOLDINGS, INC.
(Exact name of registrant as specified in its charter)

 

Delaware

 

No. 1-9046

 

No. 11-2776686

(State or other jurisdiction of incorporation)

 

(Commission File Number)

 

(IRS Employer Identification Number)

 

1111 Stewart Avenue
Bethpage, New York

 


11714

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code: (516) 803-2300

 

N/A

(Former name or former address, if changed since last report)

 

This excerpt taken from the CVC 10-Q filed May 9, 2008.

CSC HOLDINGS, INC.

 

The statements of operations of CSC Holdings are essentially identical to the statements of operations of Cablevision, except for the following:

 

·                 Interest expense of $33,395 and $33,543 for the three months ended March 31, 2008 and 2007, respectively, relating to $1,500,000 of Cablevision senior notes issued in April 2004 included in Cablevision’s consolidated statements of operations,

·                 Interest income of $231 and $1,717 for the three months ended March 31, 2008 and 2007, respectively, related to cash held at Cablevision, and

·                 Income tax benefit of $14,278 and $13,052 for the three months ended March 31, 2008 and 2007, respectively, included in Cablevision’s consolidated statements of operations related to the items listed above.

 

Refer to Cablevision’s Management’s Discussion and Analysis of Financial Condition and Results of Operations herein.

 

44



 

This excerpt taken from the CVC 10-K filed Feb 28, 2008.

CSC HOLDINGS, INC.

 

The statements of operations of CSC Holdings are identical to the statements of operations of Cablevision, except for the following:

 

·                  Interest expense of $134,446, $132,784 and $124,498 for the years ended December 31, 2007, 2006 and 2005, respectively, relating to $1,500,000 of Cablevision senior notes issued in April 2004 included in Cablevision’s consolidated statements of operations,

·                  Interest income of $3,453, $3,958 and $89 for the years ended December 31, 2007, 2006 and 2005, respectively, related to cash held at Cablevision,

·                  Miscellaneous expenses of $177 included in Cablevision’s consolidated statement of operations for the year ended December 31, 2005, and

·                  Net income tax benefit of $55,448, $52,831 and $50,993 for the years ended December 31, 2007, 2006 and 2005, respectively, included in Cablevision’s consolidated statements of operations related to the items listed above.

 

Refer to Cablevision’s Management’s Discussion and Analysis of Financial Condition and Results of Operations herein.

 

These excerpts taken from the CVC 8-K filed Aug 10, 2007.

CSC HOLDINGS, INC.

(Exact Name of Registrant as Specified in its Charter)

Delaware

 

1-9046

 

11-2776686

(State of Incorporation)

 

(Commission File Number)

 

(IRS Employer Identification Number)

 

 

 

 

 

1111 Stewart Avenue, Bethpage, New York 11714

(Address of Principal Executive Offices)

 

Registrants’ telephone number, including area code:

(516) 803-2300

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 




 

CSC HOLDINGS, INC.

The statement of operations results of CSC Holdings are identical to the statement of operations results of Cablevision, except for the following:

·                  Interest expense of $132,784, $124,498 and $85,048 for the years ended December 31, 2006, 2005 and 2004, respectively, relating to $1,500,000 of Cablevision senior notes issued in April 2004 included in Cablevision’s consolidated statements of operations,

·                  Interest income of $3,958 and $89 for the years ended December 31, 2006 and 2005, respectively, related to cash held at Cablevision,

·                  Miscellaneous expenses of $177 included in Cablevision’s consolidated statement of operations for the year ended December 31, 2005, and

·                  Income tax benefit of $52,831, $50,993 and $35,125 for the years ended December 31, 2006, 2005 and 2004, respectively, included in Cablevision’s consolidated statements of operations  related to the items listed above.

Refer to Cablevision’s Management’s Discussion and Analysis of Financial Condition and Results of Operations herein.

This excerpt taken from the CVC 8-K filed Aug 9, 2007.

CSC HOLDINGS, INC.

(Exact Name of Registrant as Specified in its Charter)

Delaware

 

1-9046

 

11-2776686

(State of Incorporation)

 

(Commission File Number)

 

(IRS Employer Identification Number)

 

 

 

 

 

1111 Stewart Avenue

 

 

Bethpage, New York

 

11714

(Address of principal executive offices)

 

(Zip Code)

 

 

 

Registrant’s telephone number, including area code: (516) 803-2300

 

N/A

(Former name or former address, if changed since last report)

 

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