Cablevision is Okay with Newsday Losing Millions [Update]

Cablevision, Newsday’s parent company, is apparently cool with the paper losing millions. According to The New York Post, Cablevision’s latest earnings report showed that its “other businesses” group — which includes Newsday, MSG Varsity and News 12 — posted a combined loss of $100 million.

An analyst told the Post that Newsday is likely responsible for about $35 million of those annual losses. However, Cablevision’s execs greet those numbers with a shrug.

During the earnings call, Gregg Seibert, vice chairman and CFO of Cablevision, expressed support for the struggling paper. “Newsday

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