Cablevision Agrees to Binding Arbitration to Resolve News Corp. Dispute

Cablevision Systems Corporation CVC today agreed to submit to bipartisan calls from Reps. Steve Israel, Peter King and others for binding arbitration to ensure a new agreement with News Corp. is reached with no disruption of programming for Cablevision customers, and urged News Corp. not to pull the plug on Fox 5 and My9. Charles Schueler, Cablevision's executive vice president of communications, issued the following statement on News Corp.: "We will work around the clock to reach a new agreement and have appealed to News Corp. not to pull the plug on Fox 5 and My9. Cablevision would never take these broadcast stations away from our customers. While we would rather come to terms directly with News Corp., binding arbitration may be the best and fairest way to resolve this matter. Therefore, Cablevision will accept the bipartisan calls from Reps. Steve Israel and Peter King for binding arbitration under the direction of a neutral third party."