Cablevision Systems reports narrower loss

Cablevision Systems Corp. reported a narrower third-quarter loss Wednesday as the cable TV operator signed up more customers for premium services such as high-speed Internet access and digital phone.

Cablevision, which also owns Madison Square Garden, Radio City Music Hall and a handful of cable channels, posted a loss of $59.2 million, or 21 cents a share, versus a loss of $63 million, or 22 cents, a year earlier.

Analysts polled by Thomson Financial had been expecting a loss of 14 cents a share. Revenue rose 13% to $1.41 billion, meeting analysts’ estimates.

Cablevision’s shares edged up 2 cents to $27.91.

Cablevision’s board is evaluating an offer from the controlling shareholders, the Dolan family, to take the company private at $27 a share.

Despite a 25.6% gain in operating income to $135.4 million, the Bethpage, N.Y.-based firm still posted a net loss in part because of a 27.7% increase in interest payments to $238.7 million.

The interest costs rose as the company took on an additional $3 billion in debt to pay out a special dividend of $10 a share to all shareholders in April.