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April 30, 1997updated 05 Sep 2016 12:05pm

CABLEVISION SYSTEMS IS TARGET FOR ACQUISITION

By CBR Staff Writer

New York-based Cablevision Systems Corp, the sixth largest cable TV company in the US, is the subject of bids for the company from the Time Warner Inc – US West Media Group, and from GTE Corp, according to a report in the New York Times. The company, which declined to comment on the rumours, has been struggling with losses over the last three years, and has a $3.1bn debt and $1.5bn in preferred stock. Cablevision’s Rainbow programming unit is part-owned by General Electric Co’s NBC.

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