WOODBURY, N.Y.--(BUSINESS WIRE)--May 10, 1996--Cablevision Systems Corp. (ASE:CVC) today announced that it has entered into an agreement with Warburg, Pincus Investors, L.P. ("Warburg") to acquire from Warburg the interests that Cablevision does not already own in A-R Cable Services Inc., A-R Cable Partners, Cablevision of Newark and Cablevision of Framingham Holdings, Inc. for $183 million. These systems serve approximately 420,000 customers. The transaction is subject to receipt of necessary regulatory approvals.
Cablevision Systems Corp. and its affiliates serve more than 2.7 million cable television customers in 19 states and, through its wholly owned subsidiary, Rainbow Programming, manages entertainment, news and sports programming services.
CONTACT: Cablevision Systems Corp. Woodbury
Charles Schueler, 516/393-1399
