[opendtv] Re: VOOM vamooses
- From: Segal Gary-r36550 <Gary.Segal@xxxxxxxxxxxxx>
- To: opendtv@xxxxxxxxxxxxx
- Date: Wed, 22 Dec 2004 14:09:00 -0700
Hmmm, I'm not sure what is going on here. CED Broadband Direct claims Voom is
still in business. They claim that Cablevision has suspended the Voom
spin-off, but not operations. This is consistent with other news articles
available on the financial web sites say for CVC.
Of course, tommorow we might learn that Voom is gone and that DTV was right all
along!
-Gary Segal
--------------------
http://www.cedmagazine.com/cedailydirect/2004/1204/cedaily041222.htm
Cablevision yanks Voom spinoff plans
Karen Brown, CED
It looks like Voom isn't going solo any time soon.
In a Securities and Exchange filing posted late yesterday, Cablevision Systems
Corp. stated it is suspending its proposed spinoff of Rainbow Media
Enterprises, an umbrella subsidiary that oversees Voom's Rainbow DBS
operations, as well as programming networks AMC, WE Women's Entertainment and
the Independent Film Channel, and on-demand content outlet Mag-Rack.
Originally, Cablevision had planned to complete the Rainbow Media Enterprises
spinoff next fall. But in the filing the company stated it will instead "pursue
strategic alternatives."
While touted as the most HD-rich TV service in the United States with 21
channels beamed in 1080i high-resolution format, it has not been easy going for
Voom since its launch in fall 2003. In the third quarter, the fledgling
satellite TV service reported it had just 26,000 customers, and was still
operating in the red, with revenues of $5.9 million and an operating loss of
$75.3 million. The loss was blamed on high development costs for the HD
channels, subscriber acquisition costs and the operating cost to support the
uplink, broadcast center and customer call center.
Nevertheless, it has soldiered on, announcing earlier this month the addition
of five new standard-definition channels from the Scripps Network - Home &
Garden Television, Food Network, DIY-Do It Yourself Network, FINE LIVING and
GAC-Great American Country.
--------------------
-----Original Message-----
From: opendtv-bounce@xxxxxxxxxxxxx [mailto:opendtv-bounce@xxxxxxxxxxxxx] On
Behalf Of Philip Hodgetts
Sent: Wednesday, December 22, 2004 3:48 PM
To: opendtv@xxxxxxxxxxxxx
Subject: [opendtv] VOOM vamooses
http://digitaltelevision.com/articles/article_859.shtml
Voom Goes Bust
By Staff
Dec 22, 2004, 12:40
Cablevision has decided to suspend its Voom=20
satellite service, which included several=20
high-definition channels, but had only a modest=20
25,000 subscribers by the end of Q3 2004.
The news had a positive and immediate effect on=20
the Cablevision stock, which closed at $25.06=20
yesterday, up by 13.3%
--
Philip Hodgetts philip@xxxxxxxxxxxxxxxxxxxxxxxxx
President and CEO 818 206 2415
Intelligent Assistants for Digital Media Software -
More than Training - Knowledge at the point of Need.
Take the Tour
http://www.intelligentassistance.com/tour/index.html
--------------------
Above all, I reserve the right to be wrong
=A9 2004 Philip Hodgetts
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