Cablevision Systems Corp. and Verizon Communications Inc. have settled months-long litigation related to advertising claims about whose Wi-Fi service was the fastest, the companies said.
The two companies released nearly identical statements, saying they had resolved the dispute "to both parties' satisfaction." Terms of the agreement were not disclosed.
In January, Cablevision, which owns Newsday, filed a federal lawsuit challenging Verizon's claims that its FiOS Wi-Fi Internet service was faster. Bethpage-based Cablevision competes against Verizon in offering video, phone and Internet service on Long Island and in other areas around New York City.StoryJudge halts Cablevision ads mocking VerizonStoryCablevision suit against Verizon: Wi-Fi claims are falseSee alsoCheck a stock price
In August, U.S. District Court Judge Gary R. Brown in Central Islip enjoined Cablevision from running advertising that characterized Verizon, based in Manhattan, as being untruthful about its Wi-Fi speeds.
The settlement comes about two weeks after news of a $17.7 billion deal by European telecom giant Altice Group to acquire Cablevision.
That acquisition, which requires approval from regulators, is expected to close by mid-2016.