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CVC > SEC Filings for CVC > Form 8-K on 3-Jul-2013All Recent SEC Filings

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Form 8-K for CABLEVISION SYSTEMS CORP /NY


3-Jul-2013

Completion of Acquisition or Disposition of Assets, Financial Statem


Item 2.01 Completion of Acquisition or Disposition of Assets

On June 27, 2013, Cablevision Systems Corporation ("Cablevision") and its wholly owned subsidiary, CSC Holdings, LLC (collectively, the "Company") completed the sale of substantially all of its Clearview Cinemas' theaters ("Clearview Cinemas") to Bow Tie Cinemas in connection with the asset purchase agreement between the two parties entered into in April 2013 (the "Clearview Sale").

On July 1, 2013, the Company completed the sale of its Bresnan Broadband Holdings, LLC subsidiary ("Bresnan Cable") for $1,625,000 in cash, subject to certain adjustments, including a reduction for certain funded indebtedness of Bresnan Cable (the "Bresnan Sale") to Charter Communications Operating, LLC ("Charter") pursuant to a purchase agreement entered into between the Company and Charter in February 2013.

Subsequent to the Clearview Sale and Bresnan Sale, the Company will no longer consolidate the financial results of Clearview Cinemas and Bresnan Cable. The historical financial results of Clearview Cinemas will be reflected in the Company's consolidated financial statements as discontinued operations for all periods presented through the date of the Clearview Sale, beginning with the financial statements to be filed for the quarter ended June 30, 2013. The historical financial results of Bresnan Cable have been reflected in the Company's consolidated financial statements as discontinued operations for all periods presented beginning with the financial statements that were filed for the quarter ended March 31, 2013.



Item 9.01 Financial Statements and Exhibits

(b) Pro forma Financial Information

The unaudited pro forma condensed consolidated balance sheets of Cablevision Systems Corporation and CSC Holdings, LLC as of March 31, 2013, and the unaudited pro forma consolidated statements of operations of Cablevision Systems Corporation and CSC Holdings, LLC for the three months ended March 31, 2013 and 2012 and for the years ended December 31, 2012, 2011 and 2010 are filed as Exhibit 99.1 to this Current Report on Form 8-K.

(d)

99.1 The unaudited pro forma condensed consolidated balance sheets of Cablevision Systems Corporation and CSC Holdings, LLC as of March 31, 2013, and the unaudited pro forma consolidated statements of operations of Cablevision Systems Corporation and CSC Holdings, LLC for the three months ended March 31, 2013 and 2012 and for the years ended December 31, 2012, 2011 and 2010.


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