Another Move????

[BLW]

Is There Hope

From the New York Post:


VOOM'S DOOMED
By TIM ARANGO


TECHNICAL KNOCKOUT: Jimmy Dolan has won the fight over Voom satellite-TV service, thereby defeating his father Chuck (above) and stemming losses that totaled $661.4 million in 2004.

April 9, 2005 -- Cablevision said it is finally shutting down its money-losing satellite service Voom — but some are wondering if Chairman Chuck Dolan has another move up his sleeve.

Apparently unable to reach a deal that would have given a private company headed by Chuck Dolan control of some of Voom's assets, Cablevision announced yesterday it had begun shutting down the service.

But the company has previously made a similar announcement — only to mark another chapter in the ongoing family drama over the future of Voom, which is Cablevision patriarch Chuck Dolan's pet project.

A source close to the company said he "would be surprised if [Chuck] does not have another move" in mind to keep his satellite business afloat.

This source noted that Dolan has even further incentive to push Voom now that Cablevision has lost out in the bidding for bankrupt cable operator Adelphia.

Late Thursday Adelphia agreed to an $18 billion offer from Comcast and Time Warner. Cablevision had been a late entrant to the auction, having this week put in an all-cash bid of $16.5 billion.

In a filing with the Securities and Exchange Commission, Cablevision said its board met on Thursday and "confirmed its shut down decision and provided management with specific directives on shut down implementation including advising customers that the Voom service will cease to be available on April 30, 2005."

Earlier this year Chuck Dolan lost a boardroom battle with his son, CEO Jimmy Dolan, that resulted in the company cutting off funding for Voom.

Cablevision agreed to sell its satellite to EchoStar for $200 million, and its remaining assets to the private company formed by Chuck Dolan.

But Chuck Dolan, the company's controlling shareholder, took the radical step of firing board members who had opposed Voom and installing new, handpicked directors. He has also been lobbying the Federal Communications Commission to block his own company's deal with EchoStar.

In 2004 Voom lost $661.4 million on paltry revenues of $14.9 million, including $354.9 million in write-downs.

The company said it may begin to market Voom's 21 channels to other satellite and cable operators.


http://www.nypost.com/business/44128.htm

 

[ddlsmith]

BS or not BS? Who is this "source"?


New York Post:

VOOM'S DOOMED

By TIM ARANGO

Cablevision said it is finally shutting down its money-losing satellite service Voom — but some are wondering if Chairman Chuck Dolan has another move up his sleeve.

Apparently unable to reach a deal that would have given a private company headed by Chuck Dolan control of some of Voom's assets, Cablevision announced yesterday it had begun shutting down the service.

But the company has previously made a similar announcement — only to mark another chapter in the ongoing family drama over the future of Voom, which is Cablevision patriarch Chuck Dolan's pet project.

A source close to the company said he "would be surprised if [Chuck] does not have another move" in mind to keep his satellite business afloat.

This source noted that Dolan has even further incentive to push Voom now that Cablevision has lost out in the bidding for bankrupt cable operator Adelphia.

Late Thursday Adelphia agreed to an $18 billion offer from Comcast and Time Warner. Cablevision had been a late entrant to the auction, having this week put in an all-cash bid of $16.5 billion.

In a filing with the Securities and Exchange Commission, Cablevision said its board met on Thursday and "confirmed its shut down decision and provided management with specific directives on shut down implementation including advising customers that the Voom service will cease to be available on April 30, 2005."

Earlier this year Chuck Dolan lost a boardroom battle with his son, CEO Jimmy Dolan, that resulted in the company cutting off funding for Voom.

Cablevision agreed to sell its satellite to EchoStar for $200 million, and its remaining assets to the private company formed by Chuck Dolan.

But Chuck Dolan, the company's controlling shareholder, took the radical step of firing board members who had opposed Voom and installing new, handpicked directors. He has also been lobbying the Federal Communications Commission to block his own company's deal with EchoStar.

In 2004 Voom lost $661.4 million on paltry revenues of $14.9 million, including $354.9 million in write-downs.

The company said it may begin to market Voom's 21 channels to other satellite and cable operators.

 

[Nayl]

I really think they have no choice but to shut it down now,consumers are wary of them now they had orders and had to cancel those those people are likely not to want to try Voom now.You have people who put faith in the company,purchased equipment rather than lease,customers who have stuck around for months now to be told one week they were shutting down to the next of adding channels.

I for one hope nothing changes as horrible as that might sound I am one of the dumb ones who would stick with Voom even after all of this and I think right now I am just ready to move on and switch to a provider who will not have this kinda drama non stop.

 

[Sean Mota]

threads merged.

 

[jeslevine]

Sorry but this time even if he could keep it going he is going to lose his existing customer base

 

[FunkyBoss]

This is a cruel joke to be playing on us Voomers.

 

[HDwonderer]

I for one am:
1) Waiting to see if E* or D* pickup the Voom 21's.
2) Waiting to see who gets the Voom customer list and gives us 45,000 voomer the best offer to move over. ie... Free install up to 4 rooms with/HD units if needed and Free HD channels for one year with no contract. ya' ...that might do it. Don't forget the voom 21.

 

[Sean Mota]

It is a little too late... The name VOOM has already been scratched as a non business. DO NOT PUT YOUR HOPES ON THIS ARTICLE. I woudn't. Of course, this is only my opinion.

 

[jeslevine]

unfortunately, I think you will probably be right Sean, I wouldn't put too much hope in it.

I spoke with the CSR today, and he just stated the company position that they will be shutting down on April 30. After much pushing I asked if there was any chance it could survive, and the only thing he said was the 30th is a long way off, and anything could happen.

I think this is wishful thinking from a person who may unfortunately lose his job, but I hope I am wrong

 

[Lobstah]

The name doesn't much matter at this point. If Chuckles does pull a rabbit out of his @ss, it would probably make sense to come up with a new name at this point...it just depends on what the new "thing" looks like, if there even IS one.

Lob

 

[Spike]

Hmmmmm? Where is that rabbit coming from again?

ROFLOL

 

[Lucky]

Remember this is the NY Post. The stuff they print is nonsense. Do not believe one word you read in that paper. This is not like Newsday, which is pretty reputable.

 

[rang1995]

oh no "they killed kenny"

 

[ddlsmith]

Remember this is the NY Post. The stuff they print is nonsense. Do not believe one word you read in that paper. This is not like Newsday, which is pretty reputable.

Oh my gosh. I just read in the Post that the Pope was dead. So he actually is alive! Yea!!!!

 

[jeslevine]

what! the pope isn't dead?

I am so confused

 

[Lobstah]

No...the Pope is dead, the RABBIT is alive.

At least according to the Post

You don't think they have some interest, somewhere, somehow, regarding cablevision and that new stadium, do you?

Naaaaaaaaaaaaaaaaaaaaaaahhh... I've just been watching too many movies.

Lob

 

[jeslevine]

the question is who has the hat?

 

[ksload]

I think 2 announced shut downs have done Voom irreparable damage. If Voom is saved, I'm sure Sears would bolt and how many new customers would have the confidence in Voom to sign up.

I'd say it's over.

 

[andrzej]

the question is who has the hat?

The Pope, of course.

 

[bryan27]

it would probably make sense to come up with a new name at this point...it just depends on what the new "thing" looks like, if there even IS one.

HD Select, That was the working name of the service before it was announced as VOOM.

If Charles starts something new it will start out with the spector of VOOM around its neck. The news reports will compare any new venture started by Charles with VOOM, doom it to failure, and will make it very difficult for it to succeed.