Cablevision’s Rainbow Media and PRIMEDIA’s NEW YORK Magazine Name Chief Executive of Joint Venture

Carolyn Everett Will Lead Development of Most Powerful Internet Destination Leveraging NEW YORK and Rainbow’s MetroChannels Brands

NEW YORK, April 25, 2000 – Cablevision’s (NYSE:CVC) Rainbow Media Holdings, Inc. and PRIMEDIA’s (NYSE:PRM) NEW YORK magazine announced today that Carolyn Everett, 44, has been named chief executive officer of the joint new media venture announced by the two companies on March 28, 2000. Everett is currently senior vice president and chief operating officer of Sunshine Media Corporation, publishers of the pop culture Internet site

The new media partnership will combine the brands and content of NEW YORK magazine and Rainbow’s MetroChannels to create the leading New York-focused Internet destination – a one-stop, interactive resource for the region. As CEO, Everett will recruit a staff of seasoned new media professionals to bring the product to market. Everett also will work closely with the staffs of both NEW YORK magazine and MetroChannels in the development of broadband programming initiatives, as well as content exchange and development across print, television and Web businesses.

Commenting on her appointment, Everett said, “In a world of Internet start-ups that are proliferating exponentially, this one is distinguished because it is backed by strong brands with definite experience. There is no question about the authority and value of both NEW YORK magazine and Rainbow’s MetroChannels. I have lived in the New York area my entire life and have a very strong connection with the region. I look forward to the challenge and opportunity to work with such great brands and the talented people who create them.”

“Carolyn’s combined background of television and Internet gives her the distinctive qualities that will empower and catapult this exciting venture into the forefront of its market,” said Tom Rogers, chairman and chief executive officer of PRIMEDIA. “Cablevision and PRIMEDIA are uniquely suited to provide a significant advantage to our joint venture.”

Josh Sapan, president & CEO of Rainbow Media Holdings, Inc. said: “I cannot think of an industry veteran who is better qualified to lead this venture than Carolyn Everett. Her television and Internet background will be invaluable as we roll out this truly converged, media rich information delivery model.”

Everett is a twenty-three year veteran of the television and new media industries who was recently named by Alley Cat News as one of the top women in Silicon Alley. An Emmy and Peabody award winner, she has a comprehensive background in television production, operations and management for a wide range of major television and media companies including ABC and Viacom. Everett has extensive experience with new media content creation, strategic planning, operations, business development, financial management, technology, electronic commerce and user interface, navigation and page design.

At Sunshine Media Corporation, Everett was involved with all aspects of the company’s operations, strategic planning and business development. Prior to joining Sunshine Media Corporation in 1998, Everett was the director of online commerce for MTV Networks, a division of Viacom, where she worked with the interactive units of Nickelodeon, MTV and VH1. Everett has also served as a consulting strategic planner and executive producer to the Broadband Media Applications group at Microsoft Corporation for its entry into the interactive television arena.

Everett holds a bachelor’s degree in journalism from a joint program at New York University in the university’s Department of Journalism and School of Film and TV. She also holds an MBA from Columbia University Graduate School of Business.

The venture is owned equally by PRIMEDIA and Rainbow, and represents the latest step in both companies’ strategies to transform their traditional media businesses into new media brands.

Since it was founded in April 1968, NEW YORK magazine has been New York City’s magazine of record, with extensive and regular coverage of local and national news, entertainment, culture, fashion, and personalities. NEW YORK magazine is part of PRIMEDIA Consumer Magazines.

PRIMEDIA Inc., with 1999 sales of $1.7 billion, is a targeted media company with several hundred print, video and Internet properties focused on consumer and business-to-business audiences. Some key businesses include Seventeen, NEW YORK, Chicago, Fly Fisherman, Channel One Network and 16 other specialty satellite television and TV distribution services, Horticulture, Modern Bride, American Baby, IntelliChoice, Telephony, American Demographics and Films for the Humanities & Sciences. The Company owns and operates more than 215 Web sites and other Internet properties.

MetroChannels is the first and only suite of television networks devoted entirely to the experience of living in the New York metropolitan area. MetroChannels consist of METRO, Metro Learning, and Metro Traffic&Weather. Metro includes original programming, live music and sports, classic New York TV series and documentaries about the people, places and history of New York. MetroLearning provides unfiltered coverage of events unfolding in the many diverse communities throughout the region. Metro Traffic&Weather is the Tri-state’s first and only 24-hour local traffic, transit, and weather channel. Since its 1998 launch, MetroChannels has received numerous accolades for its programming, including the 1999 & 2000 Community Spirit Award, New York Festivals Awards, Omni Awards and the Communicator Awards. In addition, MetroChannels was among the top 10 networks nominated for the 1999 local New York Emmy Awards.

Rainbow Media Holdings, Inc., a subsidiary of Cablevision Systems Corporation and NBC, is at the forefront of innovation in cable programming. Rainbow manages American Movie Classics, Romance Classics, Bravo, The Independent Film Channel, MuchMusic USA, Rainbow Sports, News 12 Networks and MetroChannels as well as the Rainbow Advertising Sales Corporation and Rainbow Network Communications. Rainbow holds a majority stake in Madison Square Garden Properties which includes the Madison Square Garden Arena complex, the Knicks and the Rangers professional sports teams, the MSG television network, Radio City Entertainment and a long-term lease on Radio City Music Hall. In addition, Rainbow is a fifty-percent partner in Fox Sports Net.

Cablevision Systems Corporation is one of the nation’s leading media, telecommunications and entertainment companies. The Company’s cable television operations serve more than 3.4 million customers located primarily in the New York metropolitan area. The Company also owns and operates both THE WIZ consumer electronics stores in 41 locations and Clearview Cinemas with 293 motion picture theater screens throughout the New York metropolitan area.

This release contains certain forward-looking statements concerning PRIMEDIA’s operations, economic performance and financial condition. These statements are based upon a number of assumptions and estimates, which are inherently subject to uncertainties and contingencies, many of which are beyond the control of the Company, and reflect future business decisions, which are subject to change. Some of these assumptions may not materialize, and unanticipated events will occur which can affect the Company’s results.


Rainbow Media:
Sean Cassidy – 212-981-5233
Christine Levesque – 516-803-5136

Aileen Budow – 212-324-8552

Investors – Warren Bimblick – 212-745-0615
Media – Eileen Murphy – 212-745-1857
Whit Clay – 212-446-1864

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