Cablevision Statement Regarding New Offer For Fox 5

BETHPAGE, N.Y., Oct. 27 -- Cablevision Systems Corp. (NYSE: CVC) today issued the following statement regarding a new offer for Fox 5.

"In the interest of Cablevision's 3 million households and our mutual viewers, today we have made a new offer to News Corp. Simply put: we agree to pay the rate Fox charges Time Warner Cable for carriage of WNYW-Fox 5 New York and WTXF-Fox 29 Philadelphia for a period of one year. This is higher than the rate we pay any other New York broadcast station. This solution is in the best interest of not only baseball fans but of all Cablevision customers and Fox viewers. We look forward to a positive response."

About Cablevision

Cablevision Systems Corporation is one of the nation's leading telecommunications, media and entertainment companies. In addition to its Optimum-branded cable, Internet, and voice offerings, the company owns and operates News 12 Networks, MSG Varsity and Newsday Media Group. Cablevision's assets also include Rainbow Media Holdings LLC and its programming and entertainment businesses, AMC, IFC, Sundance Channel, WE tv and IFC Entertainment, as well as Clearview Cinemas. Additional information about Cablevision is available on the Web at www.cablevision.com.