Item 2.06 Material Impairments
In connection with the preparation of the financial statements of Cablevision Systems Corporation and CSC Holdings, Inc. (collectively, the "Companies") to be included in their Annual Report on Form 10-K for the year ended December 31, 2008, the management of the Companies has concluded that charges for impairment of certain assets of the Companies' newspaper publishing group would be required under generally accepted accounting principles. Based on currently available information, the Companies expect to incur between approximately $375 million and $450 million of pre-tax impairment charges under generally accepted accounting principles related to impairments of excess costs over fair value of net assets acquired and other indefinite and definite lived intangible assets. These impairment charges reflect the continuing deterioration of values in the newspaper industry and the greater than anticipated economic downturn and its current and anticipated impact on the newspaper publishing group's advertising business. The impairment charges are not expected to result in any material future cash expenditures.
These impairment charges are expected to be reflected in the Companies' 2008 annual financial statements. The final conclusion as to the amount of these charges will be made in connection with the completion of the financial statements to be included in the Companies' Annual Report on Form 10-K for the year ended December 31, 2008.

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