Cablevision Systems Corporation is one of the nation's leading entertainment and telecommunications companies. Its cable television operations serve more than 3 million households in the New York metropolitan area. The company's advanced telecommunications offerings include its iO: Interactive Optimum digital television, Optimum Online high-speed Internet, Optimum Voice digital voice-over-cable, and its Optimum Lightpath integrated business communications services. Cablevision's Rainbow Media Holdings LLC operates several successful programming businesses, including AMC, IFC, WE tv and other national and regional networks. In addition to its telecommunications and programming businesses, Cablevision owns Madison Square Garden and its sports teams, the New York Knicks, Rangers and Liberty. The company also operates New York's famed Radio City Music Hall and the Beacon Theatre, and owns and operates Clearview Cinemas.

Bethpage, N.Y., February 27, 2007 - Cablevision Systems Corporation (NYSE:CVC) today reported financial results for the fourth quarter and full year ended December 31, 2006. Fourth quarter consolidated net revenue grew 13.4% to just under $1.7 billion compared to the prior year period, reflecting solid revenue growth in Telecommunications Services and Rainbow. 
Consolidated operating income declined 9.4% to $208.3 million while consolidated adjusted operating cash flow (“AOCF”)1 increased 7.7% to $514.8 million. 
For the full year 2006, consolidated net revenue increased 14.6% to $5.9 billion, driven by the addition of over 1.4 million Revenue Generating Units (“RGU”) during the year in Telecommunications Services combined with revenue growth at all other reporting segments. Consolidated operating income increased 22.6% to $614.0 million and consolidated AOCF grew 13.0% to $1,820.4 million for full year 2006. Operating highlights for the fourth quarter and full year 2006 include: 
• Cable Television net revenue growth of 18.6% and 18.1% and AOCF growth of 16.8% and 19.4% for the quarter and full year, respectively 
• Eleventh consecutive quarter of basic video subscriber gains; 3.3% growth for the year 
• Record annual RGU growth of more than 1.4 million new video, high-speed data and voice units 
• Average Monthly Revenue per Basic Video Customer (“RPS”) of $115.30 in the fourth quarter 2006 Cablevision President and CEO James L. Dolan commented: “For our cable business, 2006 marked the most successful year in the company’s history with our largest annual revenue gain ever. The ongoing strong demand we are experiencing for our digital video, voice and data services continued to drive industry-leading penetration rates. For 2006, our long list of milestones includes surpassing 1 million voice customers and 2 million data customers, and adding basic video customers for the eleventh consecutive quarter. With our operating successes and state-of-the-art technology, we like our competitive position going forward,” concluded Mr. Dolan.