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Cablevision's Third-Quarter Income Plummets 68 Percent

Cablevision CEO James Dolan.
Cablevision CEO James Dolan. Photo Credit: File photo

Cablevision Systems Corp. posted its third quarter performance figures Friday, reporting that its income had dropped by 68 percent from year to year, according to Nasdaq.com .

The Long Island-based cable television company is led by CEO James Dolan and serves much of New York, New Jersey and Connecticut.

Cablevision agreed to sell itself to European telecommunications giant Altice for approximately $17.7 billion in Septembe r. Altice has indicated it will c ut costs and lay off staffers after its acquisition is expected to become official early in 2016.

Friday, the company said its price per share dropped to $0.08 from $0.26 per share in the third quarter of 2014, Nasdaq.com reported.

Read the full report at Nasdaq.com .

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