CABLEVISION TAKES POSITIVE VIEW ON DEVILS' HOBOKEN PLAN

          Devils Owner John McMullen's plan to build an arena in
     Hoboken "is getting a boost from Cablevision," which is
     becoming a 50-50 partner in the venture, according to
     Richard Sandomir of the N.Y. TIMES.  McMullen said that a
     $250M arena "is more feasible with the Devils as the sole
     tenant" because of Cablevision's "management expertise." 
     McMullen: "It's clear they have the organization, talent and
     staff.  If they book an event at the Garden, they can book
     it in Hoboken."  McMullen "liked the idea" of Cablevision
     splitting the costs and "bringing its experience" in
     marketing luxury suites, club seats and sponsorships. 
     McMullen: "This makes financing it a lot easier."  A formal
     announcement is expected today (N.Y. TIMES, 5/20).  In NJ,
     George Jordan writes, "The Hoboken arena plan faces
     increasing local opposition out of fear that the facility
     will cause gridlock on the city's already overcrowded
     streets" (Newark STAR-LEDGER, 5/20).