James Nolan, chief executive, said he planned to meet with shareholders to close the gap between Cablevision's intrinsic value and current market value. The Dolan family is the controlling shareholder of Cablevision and has tried to take the company private several times in recent years.

Cablevision earned $98.3 million compared with $317.4 million in the quarter a year earlier. In the second quarter of 2007, Cablevision had a $183.9 million gain on the sale of a 50 per cent interest in FSN New England.

Revenue rose 9 per cent to $1.71 billion, helped by rate increases and strong gains in its digital video, high-speed Internet, phone and business services.

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