Cablevision (NYSE: CVC) said Thursday that more than 1.6 million of its Optimum cable TV, high-speed Internet and telephone subscribers in New Jersey, New York and Connecticut remain without power as a result of Hurricane Sandy, but the vast majority of subscribers with electricity have access to its Optimum services.
Click here for details on Cablevision's restoration efforts.
The hardest hit subscribers are in New Jersey, where 709,050 Optimum subscribers still don't have power, Cablevision said. In Long Island, 549,172 Optimum subscribers have no electricity. Sandy also hit the wealthy neighborhoods in New York's Westchester County, where 139,913 Cablevision subscribers still don't have power, according to the company. Cablevision said 126,532 Optimum customers in Connecticut have no power. It also offers service in the Bronx, where 27,011 have no electricity, and Brooklyn, where 54,881 subscribers have no power.
The Bethpage, N.Y.-based MSO said 1,655,838 subscribers in its New York metropolitan market service area do have power, and that only 7,265 of those customers with electricity remain without Optimum service because of damage caused by the storm.
Cablevision has been one of the most aggressive MSOs in building WiFi access points that it uses to market its high-speed Internet service. The company said 28,264 Optimum WiFi hotspots were operational as of 10 a.m. ET Thursday, and that 63 of its 64 transmission facilities in the tri-state area were operational. The company said its only facility that is out of service is in Seaside, N.J., a town that was devastated by Sandy.
It's highly unusual for Cablevision to release such detailed information about its operations. The public company typically only discloses information that it is required to by the Securities and Exchange Commission.
Cablevision, which was scheduled to report third-quarter earnings on Thursday, said Wednesday it would delay the release of its earnings until Nov. 6. It has also scheduled a conference call with investors Tuesday morning.
- see the release
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