Cablevision's Third-Quarter Income Plummets 68 Percent

Cablevision Systems Corp. posted its third quarter performance figures Friday, reporting that its income had dropped by 68 percent from year to year, according to Nasdaq.com.

Cablevision CEO James Dolan.
Photo Credit: *File photo*

James O'Rourke

11/07/2015 1:30 p.m.

The Long Island-based cable television company is led by CEO James Dolan and serves much of New York, New Jersey and Connecticut.

Cablevision agreed to sell itself to European telecommunications giant Altice for approximately $17.7 billion in September. Altice has indicated it will cut costs and lay off staffers after its acquisition is expected to become official early in 2016.

Friday, the company said its price per share dropped to $0.08 from $0.26 per share in the third quarter of 2014, Nasdaq.com reported.

Read the full report at Nasdaq.com.

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