I believe the reason voomllc.com was put into a limbo status, the board's counsel being directed to facilitate a temporary "gag" and/or "cease-and-desist" order(s).
Why...? Material contained on both websites contains © materials, more specifically, "Voom" is a registered trademark, is the property of Rainbow Media LLC whose parent is CVC.
The behavior portrayed up to this point of the CVC board has been unbecoming. The leaking of memos is also only pushes the issues to the forefront providing fuel for the trades. Perhaps Chuck Dolan's announcement of 4 new board members yesterday will bring continuity and ease the concerns financial markets.
I must add, I have little doubt at this juncture the highly lucrative cable division of CVC will sold off while James Dolan may be removed from the CVC board as CEO following his peers, 3 board members dismissed as of yesterday.
Chuck Dolan is in the process attempting to increase the board proportionally in size to reflect "B" stock ownership.
For those of you that may unfamiliar with categories of stocks pertaining to CVC... the "A" and "B" stock; "A" stock is possessed by the general public, while "B" stock can only be held by Dolan family members and insiders to CVC. "B" stock voting rights cary a 10:1 ratio in voting (each "A" stock share = cast 1 vote per/share, each "B" stock share = casts 10 votes per/share). "A" stock does NOT pay dividends and the company professes it is not likely to. The value of CVC "A" stock is its relative value to the market; how the market perceives the stock dictates its value.
CVC has split (2:1) only twice in its history.
