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CABLEVISION INDUSTRIES ANNOUNCES EXCHANGE OFFER

 LIBERTY, N.Y., April 26 /PRNewswire/ -- Cablevision Industries Corporation (CVI) announced today that it has offered to exchange $200,000,000 aggregate principal amount of its 9-1/4 percent senior debentures due 2008, series B (the "new debentures"), for an equal amount of its outstanding 9-1/4 percent senior debentures due 2008 (the "old debentures"). The exchange offer will expire at 5:00 p.m., New York City time, on May 21, 1993 (unless extended). The old debentures were sold by CVI in a private placement transaction in March 1993. The interest rate on untendered old debentures which are not exchanged for new debentures pursuant to the exchange offer will decrease from 9-3/4 percent to 9-1/4 percent per annum following the completion of the exchange offer. The new debentures will bear interest at a rate of 9-1/4 percent per annum. The registration statement covering the new debentures has been declared effective by the Securities and Exchange Commission. The exchange offer is being made by means of a prospectus contained in the registration statement.
 CVI is the ninth largest independent cable television operator in the United States.
 -0- 04/26/93
 /CONTACT: Rocco B. Commisso of Cablevision Industries Corporation, 914-292-7550/


CO: Cablevision Industries Corporation ST: New York IN: TLS SU: OFR

AH -- NY122 -- 0979 04/26/93 16:54 EDT
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Publication:PR Newswire
Date:Apr 26, 1993
Words:222
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