Cablevision cashing in on equity market


On the heels of Charter Communications' successful $1.9 billion stock sale, Cablevision is turning to the equity market to raise $1 billion. The MSO filed to sell preferred and Class A common stock to raise the cash. The cash is slotted to pay for system upgrades and a wide rollout of digital set-top converters. Cable stocks have held up well in the recent stock market slump because the business is seen as resistant to recession.
- John Higgins