BETHPAGE, N.Y. and NEW YORK, Aug. 10, 2011 /PRNewswire/ — Cablevision Systems Corporation (NYSE:CVC) and Viacom Inc. (NYSE: VIA, VIA.B) today reached an agreement to resolve litigation filed in the Southern District of New York related to Cablevision’s Optimum Apps. In connection with the agreement, the companies jointly issued the following statement:

“Viacom and Cablevision have agreed to resolve their pending litigation, and the Viacom programming will continue to appear on Cablevision’s Optimum Apps for iPad and other IP devices. In reaching the settlement agreement, Cablevision and Viacom were able to resolve the iPad matter and an unrelated business matter to their mutual satisfaction. Neither side is conceding its original legal position or will have further comment.”