EX-99.1 2 ex_99-1.txt PRESS RELEASE DATED JUNE 22, 2005 Exhibit 99.1 JUNE 22, 2005 RESPONSE FROM CABLEVISION SYSTEMS CORPORATION REGARDING PROPOSAL BY THE DOLAN FAMILY GROUP On June 19, 2005, Cablevision Systems Corporation received a proposal from the Dolan Family Group to acquire the outstanding, publicly-held interests in Cablevision Systems Corporation following a pro rata distribution of Rainbow Media Holdings. On June 21, 2005, Cablevision Systems Corporation's Board of Directors appointed a 3-person special transaction committee consisting of independent directors to review the proposal. The special transaction committee has retained Willkie Farr & Gallagher LLP as its legal counsel. We do not intend to comment further at this time.