Cablevision Board To Debate Voom Fate

[Bruce]

Cablevision Board To Debate Fate Of Satellite Unit

THE WALL STREET JOURNAL - January 18, 2005 - The board of Cablevision Systems Corp. is scheduled to meet today to debate sharp differences among board members over what to do with Voom, the company's fledgling satellite-television business that has been running up big losses and dragging down its stock.

Charles Dolan, founder and chairman of Cablevision, wants the company to keep funding Voom, which launched service about a year ago but had only 26,000 subscribers at the end of the third quarter. Other board members, including James Dolan, Cablevision's chief executive and Charles Dolan's son, favor shutting it down or selling it at a discount if necessary.

A majority of the 14-member board sides with James Dolan....

Cablevision's satellite business has been harshly criticized by analysts and investors as too risky, given the existing fierce competition among cable operators and the two established satellite companies.

Voom has tried to distinguish itself by offering more high definition channels than the others. But that difference hasn't been enough to attract sufficient demand, critics contend. Voom generated $75.3 million in losses in the third quarter.

Full story at:
<http://online.wsj.com/article/0,,SB110601229617328480,00.html?mod=technology_main_whats_news> [/QUOTE]

No comment from me, just whoa.

 

[Amphicar770]

Hmm, good thing my install is not until Friday!

 

[riffjim4069]

My money, $1 for that matter, is on Dolan Sr. I doubt we will see much happen until the new HD/SD channels & HD DVR evolution is fully explored. I am very interested in the 4th quarter financials. Also, Strategic Alernatives can mean a number of things to include Strategic Partnerships. One things about VOOM...it is never boring! We shall see.

 

[jeslevine]

I hope you are right

My money, $1 for that matter, is on Dolan Sr. I doubt we will see much happen until the new HD/SD channels & HD DVR evolution is fully explored. I am very interested in the 4th quarter financials. Also, Strategic Alernatives can mean a number of things to include Strategic Partnerships. One things about VOOM...it is never boring! We shall see.

either way I hope it survives in one form or another

 

[Indy]

And they are at the gate! Waiting for the gun! I predict Voom to survive by a nose.

 

[Lucky]

As Porky Pig once said, "That's All Folks".

I think VOOM is a gonner and it could be gone as soon as tommorrow. I hate to be a doomsayer, but I do not think they will keep pouring money into it.

 

[Scott Greczkowski]

VOOM is not going anywhere, lots of things going on behind the scenes which havent even been mantioned here.

 

[Indy]

As Porky Pig once said, "That's All Folks".

I think VOOM is a gonner and it could be gone as soon as tommorrow. I hate to be a doomsayer, but I do not think they will keep pouring money into it.

You are soooooooooooo.... wrong! Want some good financial advice? When the Voom stock spins off in a public offering put all the money you can beg, borrow and steal from your credit cards into it. Wish I had done just that with Echostar when Dish started.

 

[Lucky]

VOOM is not going anywhere, lots of things going on behind the scenes which havent even been mantioned here.

Scott,

I certainly hope you are right. I love my VOOM and don't want to lose it.

 

[Lucky]

You are soooooooooooo.... wrong! Want some good financial advice? When the Voom stock spins off in a public offering put all the money you can beg, borrow and steal from your credit cards into it. Wish I had done just that with Echostar when Dish started.

I think you are way behind on your information. The VOOM stock spinoff was cancelled about a month ago.

 

[Bruce]

Here's a little more( the more in bold):

Cablevision board to debate fate of Voom- WSJ
Tue Jan 18, 2005 05:00 AM ET
NEW YORK, Jan 18 (Reuters) - The board of Cablevision Systems Corp. (CVC.N: Quote, Profile, Research) is scheduled to meet on Tuesday to debate differences among board members over what to do with Voom, the company's fledgling satellite-television business that has been running up losses, the Wall Street Journal reported on Tuesday.

The newspaper said Charles Dolan, founder and chairman of Cablevision, wants the company to keep funding Voom, which launched services about a year ago but had only 26,000 subscribers at the end of the third quarter.

Other board members, including James Dolan, Cablevision's chief executive and Charles Dolan's son, favour shutting it down or selling it at a discount if necessary, the article said.

A majority of the 14-member board sides with James Dolan, the newspaper said, citing people familiar with the matter.

In December, Cablevision said it would pursue strategic alternatives for Voom.

The article said people familiar with the matter said it was uncertain whether the board meeting will lead to any decisions or public announcements.

Cablevision could not immediately be reached for comment

http://yahoo.reuters.com/financeQuo...tfh56756_2005-01-18_10-00-05_n18162276_newsml

 

[jnardone]

VOOM is not going anywhere, lots of things going on behind the scenes which havent even been mantioned here.

So the Board of Directors has already decided what the fate of VOOM is and this meeting is just for show? So there is no disagreement among the board members and the Wall Street Journal is merely a tabloid reporting rumors without any basis in facts?? You may want to consider the possibilty that someone has been lying to you and that the fate of VOOM is actually not certain.

 

[rang1995]

Continued Uncertainty Over Fate of VOOM Business
CVC's Board is likely to meet today to continue to decide the fate of VOOM.
Despite public sentiment, the company still does not appear to have decided the
ultimate outcome, with the Board seemingly divided, though tilted slightly in
favor of selling or shutting it down.
! Board Dissention Could be Disruptive to Shareholders N-T
While the Board appears to slightly favor selling/shutting VOOM, dissention
could lead to a public battle, potentially pitting Chairman (Charles) vs CEO
(James). This could lead to N-T share volatility. Based on recent filings (Apr 04),
Dolans control 75% voting stake, w/Chairman, Charles controlling 41% direc

 

[techweb]

I like Voom a lot and hope it survices, but the Company can only bleed red ink for so long.

 

[Indy]

I think you are way behind on your information. The VOOM stock spin off was canceled about a month ago.

No I am not behind on my information. The spin off was suspended until a latter date is the way I read all the info. The timing was not correct for the spin off to take place but does not say it won't take place in the future. Just did not happen last year.

 

[hancox]

So the Board of Directors has already decided what the fate of VOOM is and this meeting is just for show? So there is no disagreement among the board members and the Wall Street Journal is merely a tabloid reporting rumors without any basis in facts?? You may want to consider the possibilty that someone has been lying to you and that the fate of VOOM is actually not certain.

You might want to read up on the difference between press releases and reality. Lots of info on this with the Worldcom "we don't see any storms on the horizon" public statements and their trial starting today.

 

[Bruce]

Based on recent filings (Apr 04),
Dolans control 75% voting stake, w/Chairman, Charles controlling 41% direc

If I was a betting man I would have to say the odds are with the father winning the battle, the only way the son could win is if all the board teamed up with him against his father, I don't that will happen.

 

[Bruce]

You might want to read up on the difference between press releases and reality. Lots of info on this with the Worldcom "we don't see any storms on the horizon" public statements and their trial starting today.

Except this was not a press release, this was a news story from the Wall Street Journal.

 

[Indy]

I guess the best stance to take on all this is as follows. The morning you switch on the TV and there is no programming on the Voom box, then you will have the right to ask"Is Voom dead or am I experiencing technical problems?" Until that moment Voom is alive and well and here to stay until that day comes around if it ever does.

 

[gutter]

Each member votes their stock. I guess the old man would have the upper hand as well or be able to stall for more time. Perhaps an interesting annoucement regarding a merger or a potential buyer could results as well.