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The Buzz

By Published on .

The accounting scandal at Cablevision Systems' AMC network has gotten thornier. Russell Solomon, a senior VP-cable analyst at Moody's Investor Service, suggested to Newsday that Cablevision execs knew about the scandal several months before they disclosed it publicly and that the Justice Department might expand its probe to the parent company. On June 18, 14 executives were fired after it was discovered that almost $18 million in marketing expenses and three years of invoices were under question. Cablevision said it had released the information after completing a five-month investigation, but Moody's suggested the company should have come clean earlier. So far the investor service has not downgraded Cablevision's bond rating.
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