DOW JONES NEWSWIRES
Cablevision Systems Corp. (CVC) is seeking to provide its
Optimum WiFi wireless Internet service on the Long Island and Metro
North commuter railroad systems.
The cable television company's WiFi service, launched a year
ago, already is available at roughly 96% of commuter rail platforms
and station parking lots serving Long Island and Westchester
County. It is also available in other high-traffic and commercial
locations such as parks and other outdoor sites in the New York
City area.
Cablevision, in its request to the New York Metropolitan
Transportation Authority, said its approach could provide
substantial benefits to MTA and its riders at no cost to the MTA
while giving the cash-strapped agency the ability to raise revenue.
The MTA is seeking proposals for WiFi service.
Growth at Cablevision's telecommunications business, by far its
largest, has been driven by higher numbers of Internet and voice
customers. The company plans to spin off its Madison Square Garden
and related assets by year's end to focus on its core
operations.
Shares recently were up 1.6% at $22.72. The stock is up 35% this
year.
-By Tess Stynes, Dow Jones Newswires; 212-416-2481;
tess.stynes@dowjones.com