The franchise length change was part of a larger package of changes in cable regulations proposed by the commission staff last February.

The analysts said the stock price was probably affected by general concerns about highly leveraged companies, as well as by fears of new cable regulation.

The obstacles to profitability have included cable regulations, the economic recession and an inability to attract a mix of national and local advertising.

Democrats, who fought a pitched battle in 1992 to pass cable regulation, want to preserve as much of it as possible.

Communications lawyers said the agreement was unique in the annals of cable regulation.

Under the new cable regulations, systems will be required to provide subscribers with broadcast and public access channels at a minimal cost.

But the service will likely continue after that because sometime next month the Federal Government is to propose new cable regulations.

Newsday had published several pieces on cable regulation.

For weeks, industry lobbyists and lawmakers have been predicting a bargain on cable regulation.

The right to such payment is established in a new Federal law on cable regulation.