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Article: More MSO's blast FCC rate rereg. (multiple system operator; Federal Communications Commission; cable television rate reduction) (Brief Article)
- Article from:
- Broadcasting & Cable
- Article date:
- May 16, 1994
- Author:
CopyrightCOPYRIGHT 1994 Reed Business Information, Inc. (US). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Cable MSOs Cablevision Systems and Comcast both criticized the FCC's latest rate regulations last week. Cablevision announced plans to cut back expenses "to help limit the effect of the impending second round of FCC rate rollbacks." The cutbacks include eliminating 160 jobs (about 3% of its workforce), a "reduction in outside service expenses" and "revisions in the employe health and benefit programs." The company recorded a $4.3 million charge in the first quarter for severance and other costs "related to the restructuring of its operations."
The MSO's debt was downgraded by Moody's ratings service, which said the FCC regulations will cause Cablevision's cash ...