Dolan Says He'll Just Take His Satellite TV Company And Go Home
from the it's-my-company-and-you-can't-have-it! dept
While many people thought that Cablevision's satellite TV division, Voom, had been sold to EchoStar, the details are that only the single satellite, itself was sold. The rest of the company still exists... and Charles Dolan, who fought the sale to the very end has decided that, gosh darnit, he's not giving it up yet. He's agreed to buy out the additional Voom assets himself and see what he can do about growing the company again. It's likely Cablevision's so happy to see it go (and not have to deal with shutting it down) that they gave Dolan a good price. This should increase the speculation over whether or not the Dolan family is going to sell off Cablevision itself. You have to imagine that's one family gathering that won't be much fun next holiday season. In the meantime, though, Charles Dolan finds himself with a satellite TV company, about 26,000 customers, lots of losses and (ooops) no satellites. It's likely that he'll quickly work out some sort of deal to lease space on a satellite to keep the service going and (well, he hopes) growing.