Cablevision Systems Corporation and Scientific-Atlanta Announce Agreement for Digital Set-Top Boxes and Headend Equipment.
BETHPAGE, N.Y. & ATLANTA--(BUSINESS WIRE)--Aug. 29, 2002
Agreement Expected to Strengthen and Support Expanded
Rollout of Cablevision's Advanced Digital Television
Service iO: Interactive Optimum(SM)
Cablevision Systems Corporation (NYSE: CVC) and Scientific-Atlanta (NYSE: SFA) today announced an agreement to integrate Scientific-Atlanta's digital technology with Cablevision's deployment of its digital television service, iO: Interactive Optimum, and to further develop iO's advanced home entertainment offering. The agreement will strengthen the foundation and scalability of iO's sophisticated digital television service which already provides customers superior entertainment value, compared to satellite offerings, with more than 200 channels, 1,000 video on demand titles, digital music and more.
The agreement enables Cablevision to purchase Scientific-Atlanta set-top boxes including the Explorer(R) 4200 digital set-top box, which can deliver a broad range of entertainment, information and communications services including video on demand, a dynamic interactive program guide and portal services. The Explorer 4200 set-top can support software upgrades and will feature a high-speed DOCSIS modem and DAVIC capability. A high-definition television version of the Explorer 4200 set-top box is expected to be available later this year. Additionally, Cablevision will purchase Scientific-Atlanta digital headend equipment and license related headend and application software. The installation and integration of the network will be fully supported by Scientific-Atlanta SciCare(TM) Broadband Services.
"Scientific-Atlanta is an established player and proven leader in digital interactive networks and set-top boxes. We are confident their expertise and technology will support the core digital functionality of iO, our leading-edge digital television service," said Tom Rutledge, Cablevision president, New York metropolitan area (NYMA). "This partnership will assist Cablevision in effectively managing and driving our planned growth strategy."
"This partnership allows us to play a key role in delivering exciting high-quality digital services to one of the country's prime markets," said Jim McDonald, Chairman, CEO and President of Scientific-Atlanta. "Cablevision has made a tremendous commitment to expanding their networks and bringing their subscribers a full range of applications, and we are very pleased by their confidence in our digital solutions and support as they move ahead with this major deployment."
Cablevision expects to have 3.4 million digital video capable homes by the end of 2002 and 4.4 million by year-end 2003. The Scientific-Atlanta Explorer digital set-top boxes are expected to be deployed to new subscribers in the fall of this year. Scientific-Atlanta's technology is expected to seamlessly integrate into Cablevision's digital plant; current iO subscribers' existing service will not be affected. NDS, a leading supplier of television solutions, and Scientific-Atlanta have signed a non-binding letter of intent to incorporate NDS conditional access technology into Explorer set-tops to meet Cablevision's requirements.
Cablevision's suite of digital television services, iO: Interactive Optimum, is the industry's most robust and sophisticated digital TV offering. Cablevision has built a superior digital platform that delivers the most progressive entertainment and communication services available. With iO, customers have access to more than 1,000 video on demand titles, 50 premium movie channels, 27 digital networks as well as 45 commercial free digital music channels.
Scientific-Atlanta, Inc. (NYSE: SFA - http://www.scientificatlanta.com) is a leading supplier of digital content distribution systems, transmission networks for broadband access to the home, digital interactive set-tops and subscriber systems designed for video, high-speed Internet and voice over IP (VoIP) networks, and worldwide customer service and support.
"Forward-looking statements," as defined in the Private Securities Litigation Reform Act of 1995, may be included in this news release. A variety of factors could cause Scientific-Atlanta's actual results to differ from the anticipated results expressed in such forward-looking statements. Investors are referred to Scientific-Atlanta's Cautionary Statements (Exhibit 99 to the Company's most recent Form 10-Q), which statements are incorporated into this news release by reference. All forward-looking statements in this news release are based on information that currently is available. Scientific-Atlanta disclaims any obligation to update any forward-looking statement.
Cablevision Systems Corporation is one of the nation's leading entertainment and telecommunications companies. Its cable television operations serve 3 million households located in the New York metropolitan area. The company's advanced telecommunications offerings include its Lightpath integrated business communications services; its Optimum-branded high-speed Internet service and iO: Interactive Optimum, the company's newly introduced digital television offering. Cablevision's Rainbow Media Holdings, Inc. operates programming businesses including American Movie Classics, Bravo, The Independent Film Channel and other national and regional services. In addition, Rainbow is a 50 percent partner in Fox Sports Net. Cablevision also owns a controlling interest and operates Madison Square Garden and its sports teams including the Knicks and Rangers. The company operates New York's famed Radio City Music Hall and owns and operates THE WIZ consumer electronics stores in the New York metropolitan area. Additional information about Cablevision Systems Corporation is available on the Web at www.cablevision.com.
This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that any such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, and that actual results or developments may differ materially from those in the forward-looking statements as a result of various factors, including financial community and rating agency perceptions of the company and its business, operations, financial condition and the industry in which it operates and the factors described in the company's filings with the Securities and Exchange Commission, including the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" contained therein. The company disclaims any obligation to update the forward-looking statements contained herein.
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|Comment:||Cablevision Systems Corporation and Scientific-Atlanta Announce Agreement for Digital Set-Top Boxes and Headend Equipment.|
|Date:||Aug 29, 2002|
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