Hi Randy,
The following is what I have gathered through various newpaper
articles regarding the shutting down of Voom satellite service.
In chronological order:
Dow Jones Newswires
Cablevision Chairman to Fund Voom
March 30, 2005 5:18 AM
"Cablevision Systems Corp. (CVC) Chairman Charles Dolan, in a further
sign that he is determined to keep his Voom satellite service
operating, has told the Federal Communications Commission that he is
in the process of making a $400 million personal commitment to the
business, The Wall Street Journal reported Wednesday."
SmartMoney
http://www.smartmoney.com/bn/ON/index.cfm?story=ON-20050330-000522-0518&hpadref=1
=======================================
The Associated Press
Dolan seeks to block satellite sale
03.30.2005, 04:05 PM
"In the latest twist in a bitter family feud, the founder and chairman
of Cablevision Systems Corp., Charles Dolan, is asking federal
regulators to block Cablevision's deal to sell a broadcast satellite
to EchoStar Communications Corp."
(...)
"Cablevision reached the deal to sell the satellite to EchoStar after
deciding to shut down the nascent satellite TV business that Dolan had
championed, called Voom.
Voom has suffered deep losses since starting up and became a
flashpoint of concern among investors, who see it has a drag on an
otherwise attractive cable TV company.
Cablevision has agreed to delay a shutdown of Voom to give Dolan
enough time to arrange financing to buy what's left of Voom and keep
the business alive.
In the filing with the FCC, Dolan said his private entity Voom HD LLC
was using $400 million to fund the business. The company is due to
decide on the fate of Voom this week."
Forbes
http://www.forbes.com/home/feeds/ap/2005/03/30/ap1914431.html
=======================================
Report: Dolan tries to block satellite sale
Last Update: 4:10 PM ET March 30, 2005
"The sale was hailed by investors and analysts at the time, as it
seemed to indicate that Cablevision was abandoning Voom, its
money-losing satellite service. Voom lost $75 million in last year's
third quarter alone.
Originally, Cablevision intended to spin off Voom, along with its
Rainbow cable network assets AMC, Women's Entertainment and the
Independent Film Channel. The spinoff, first announced in the fall of
2003, was postponed several times, and then finally suspended
indefinitely last December 21.
On March 8, Cablevision announced a deal with Dolan to keep Voom going
through at least the rest of this month..."
MarketWatch
http://cbs.marketwatch.com/news/story.asp?guid=%7B8ED64B99-4DEE-4DA0-85F4-6444A119B9CE%7D&siteid=google&dist=google
I hope this is helpful. If you have any questions regarding my answer
please don?t hesitate to ask before rating it.
Best regards,
Rainbow |
Clarification of Answer by
rainbow-ga
on
31 Mar 2005 00:47 PST
Hi Randy,
After reading the articles posted in my answer and various other ones,
the conclusion I came to was Voom will be open til at least the end of
the month (today). Although, Voom President Charles Dolan, is trying
his best to keep it open, it is still undecided what will happpen to
it after this month.
Email contacts at Voom:
James Dolan (Voom President): jdolan@cablevision.com, jdolan@voom.com
Charles Dolan (Voom President): cdolan@voom.com
Press Inquiry: pressinquiry@voom.com
Wilt Hildenbrand (Voom Customer Service): wilth@optonline.net
Source: HDTV TECHNO
http://hdtvtechno.netfirms.com/EmailContacts.htm
I hope this helps. If you have any other questions please don't
hesitate to ask. I will do my best to further assist you.
Best wishes,
Rainbow
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