UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
February 8, 2016
CABLEVISION SYSTEMS CORPORATION
(Exact name of registrant as specified in its charter)
Delaware | No. 1-14764 | No. 11-3415180 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification Number) |
CSC HOLDINGS, LLC
(Exact name of registrant as specified in its charter)
Delaware | No. 1-9046 | No. 27-0726696 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification Number) | ||
1111 Stewart Avenue Bethpage, New York |
11714 | |||
(Address of principal executive offices) | (Zip Code) |
Registrants telephone number, including area code: (516) 803-2300
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 1.01. | Entry into a Material Definitive Agreement. |
The litigation between Mr. Thomas C. Dolan and Cablevision Systems Corporation (the Company) concerning matters largely from 2005 to 2008 (as described in Notes 10 and 13 to the Companys Consolidated Financial Statements included in the Companys Quarterly Report on Form 10-Q for the period ended September 30, 2015) has been settled pursuant to agreements dated February 8, 2016. Under the settlement agreement with Mr. Thomas C. Dolan, the Company paid Mr. Thomas C. Dolan $21 million. Mr. Charles F. Dolan and Mr. James L. Dolan have entered into an agreement to pay the Company, in the aggregate, $6 million in partial reimbursement of the Companys settlement payment to Thomas C. Dolan if the Companys pending merger with Altice N.V. is not consummated. Mr. Charles F. Dolan is Chairman of the Board and a director of the Company, Mr. James L. Dolan is the Companys Chief Executive Officer and a director of the Company, and Mr. Thomas C. Dolan is the Companys Executive Vice President-Strategy and Development, Office of the Chairman, and a director of the Company. The settlement of the litigation with Mr. Thomas C. Dolan is permitted by the Companys merger agreement with Altice N.V. and the payment to him does not reduce or otherwise affect the consideration payable to the Companys stockholders under the merger agreement. The settlement agreement with Mr. Thomas C. Dolan and the further agreement with Messrs. Charles F. Dolan and James L. Dolan were approved by an independent committee of the Companys board of directors, which has been handling the matter on behalf of the Company.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
CABLEVISION SYSTEMS CORPORATION (Registrant) | ||
By: | /s/ Brian G. Sweeney | |
Name: Brian G. Sweeney Title: President & Chief Financial Officer |
CSC HOLDINGS, LLC (Registrant) | ||
By: | /s/ Brian G. Sweeney | |
Name: Brian G. Sweeney Title: President & Chief Financial Officer |
Dated: February 12, 2016