TELECOM Digest OnLine - Sorted: Cablevision Chair to Buy Remainder of Voom

Cablevision Chair to Buy Remainder of Voom

Monty Solomon (
Fri, 11 Feb 2005 23:10:45 -0500

NEW YORK (AP) -- Charles Dolan, founder and chairman of Cablevision
Systems Corp., is not one to give up on his satellite TV plans.

After being forced by Cablevision's board of directors to sell
fledgling TV service Voom's only satellite to EchoStar Communications
Corp. for $200 million, Dolan said late Thursday that he is planning
to buy out the remainder of Voom's assets.

The deal includes Voom's 26,000 customers, 21 exclusive high
definition channels, various spectrum licenses and leased capacity.

Under the plan, Dolan, along with his son Tom Dolan and some other
Cablevision shareholders, will form a private company that will assume
Voom's liabilities and protect Cablevision from any losses.

Cablevision has signed a letter of intent agreeing to the transaction,
but the board must still approve final terms.


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