Earnings Call: Cablevision: We Can Better Manage Newspapers' Transition To Digital
This story was written by David Kaplan.
[In progress] Despite Cablevision's Q4's loss CEO Jim Dolan insisted that the company is weathering the recession pretty well and, in light of recent actions by companies like the NYTCo (NYSE: NYT) and Gannett (NYSE: GCI), the company will continue paying a dividend to investors. And while it dropped the VOOM HD service, both Dolan and COO Tom Rutledge said that Cablevision (NYSE: CVC) is not scaling back the build out of its wi-fi network business, which the company is spending $300 million on the initiative. "We're about a third of the way through it and we've spent about $66 million so far," Rutledge said later in the call.
On Newsday, Rutledge said that the company was well aware of the troubles of the newspaper industry. But Cablevision continues to believes that it can better manage the industry's transition from print to digital, Rutledge said. More to come
By David Kaplan