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CABLEVISION ELECTS TO BUY PARTNER'S 50 PERCENT STAKE IN AMERICAN MOVIE CLASSICS;

 -- Reaffirms Commitment To Innovative Cable Programming --
 WOODBURY, N.Y., Sept. 16 /PRNewswire/ -- Cablevision Systems Corporation (AMEX: CVC) announced today that the company has elected to purchase, through its Rainbow Programming Holdings subsidiary, Liberty Media Corporation's 50 percent stake in American Movie Classics (AMC). The announcement was made after Cablevision formally notified its partners of the decision, which was prompted when Liberty triggered a buy-sell provision contained in the AMC partnership agreement.
 "We're committed to the programming business and to this product, so there was really no question about whether we would buy," said James Dolan, CEO, Rainbow Programming Holdings. "AMC's distinct franchise and its loyal, growing following make the channel a model for the kind of strong niche programming we are developing at Rainbow."
 Cablevision conducts its programming activities through Rainbow Programming Holdings, a wholly-owned subsidiary of Cablevision Systems Corporation, and through Rainbow subsidiaries in partnership with the National Broadcasting Company, Inc. and, in some cases, Liberty Media Corporation.
 "AMC has been the fastest growing cable network for the past three years. It provides a unique value to 46 million cable subscribers as the only commercial-free basic channel with uncut, unedited classic movies," said Rainbow COO Josh Sapan.
 AMC has developed a broad and loyal audience by creating a franchise that celebrates the world of classic Hollywood with originally produced documentaries and on-air host Bob Dorian, acknowledged as one of the most popular and recognizable personalities on television. AMC showcases quality classic titles from Goldwyn, Fox, Universal and RKO through studio license agreements that are secured into the next century.
 Rainbow Programming Holdings, Inc., manages 14 programming networks including American Movie Classics, Bravo, News 12 Long Island and Prime SportsChannel Networks and SportsChannel Regional Network.
 Cablevision Systems Corporation owns and operates cable television systems in 19 states and, through subsidiaries, owns interests in companies that produce and distribute programming services and provides advertising sales services for the cable television industry.
 -0- 9/16/93
 /CONTACT: Jayne Wallace of Rainbow Programming Holdings, 516-364-2222, ext. 480/
 (CVC)


CO: Cablevision Systems Corporation; American Movie Classics ST: New York IN: ENT SU: FNC

LD -- NY081 -- 2883 09/16/93 18:05 EDT
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Publication:PR Newswire
Date:Sep 16, 1993
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