Cablevision Board To Debate Voom Fate

[Seanb61]

If you are going to be criticizing reporters and their journalism, Walter L., you should note that there is no official mention of the memo here anymore, either.

sure there is check the homepage.....

Breaking News! Charles Dolan, sent an internal memo to all employees at VOOM. "It is our expectation that RDBS will be offered for sale as an operating business. To do otherwise risks minimizing the return to Cablevision. Sale of RDBS requires RDBS to continue to operate normally. Should RDBS, the business, be sold, RDBS staff will simply work under new ownership." Read more here

 

[Bruce]

Yep, link still there, goes right to the thread, but the post is gone.

 

[Scott Greczkowski]

Most places will report this news tommorow. I have been on the phone all day with various reporters from major papers around the USA.

And if I can be honest for a moment, while I am very excited about the exposure given to SatelliteGuys.US in all of this I am not happy that someone may lose their job over this.

The person who posted the memo went out of his way to share with us what I believe to be very positive news, and now if found this person may lose their job in doing so.

While we are always proud to scoop all other sites we like doing it without anyone risking their livelyhood.

 

[vurbano]

Most places will report this news tommorow. I have been on the phone all day with various reporters from major papers around the USA.

And if I can be honest for a moment, while I am very excited about the exposure given to SatelliteGuys.US in all of this I am not happy that someone may lose their job over this.

The person who posted the memo went out of his way to share with us what I believe to be very positive news, and now if found this person may lose their job in doing so.

While we are always proud to scoop all other sites we like doing it without anyone risking their livelyhood.

I dont think it should have been posted.

#1. It couldnt be verified.
#2. It said nothing definite only that the Dolans could be a potential Buyer. Big Deal wasnt that possible all along?

But it was posted and as soon as it hit the net it was in the public domain IMO where it should have remained.

 

[Bruce]

Most places will report this news tommorow. I have been on the phone all day with various reporters from major papers around the USA.

And if I can be honest for a moment, while I am very excited about the exposure given to SatelliteGuys.US in all of this I am not happy that someone may lose their job over this.

The person who posted the memo went out of his way to share with us what I believe to be very positive news, and now if found this person may lose their job in doing so.

While we are always proud to scoop all other sites we like doing it without anyone risking their livelyhood.

Don't feel that bad, it was that person who posted it, not anyone else.
He/She could have PM'ed it to you or Sean with the request to keep it private or not to say who it came from.

 

[Scott Greczkowski]

If VOOM were not a publicly held company it would have stayed, but I believe they have some SEC concerns about the memo and thats why they asked us to remote it and why we complied. We don't want to spend money going to court over somethiing internal posted here, especially since we dont have the money to do so.

The document was verifed by two seperate VOOM employees I spoke with and has also been confirmed by the independent press as well.

And any posting here is NOT under public domain, when you signed up you agreed that all posts here become property of SatelliteGuys, its like that on most every forum I know of.

We need to make decissions which are in the best interest of the site so we can be here in the future for all to enjoy.

 

[Walter L.]

#1. It couldnt be verified.

Now, the best authentication is the fact that it had to be removed

#2. It said nothing definite only that the Dolans could be a potential Buyer. Big Deal wasnt that possible all along?

It's a big deal to the so called financial "analyst" and that just demonstrate how competent they are, none of them ever imagine such posibility. LOL.

 

[rtt2]

Scott have you given their IP up to anyone?

 

[madpoet]

I would hope he hadn't.

 

[Bruce]

Now, the best authentication is the fact that it had to be removed

It's a big deal to the so called financial "analyst" and that just demonstrate how competent they are, none of them ever imagine such posibility. LOL.

But that's not the only thing it said, it had the word's "sell or dispose" in that memo I did not read here, if anything could affect prices more are those words, that would be the concern as far as the SEC goes.

 

[Bruce]

I be scarced too if these guys were looking for me

 

[Walter L.]

Scott have you given their IP up to anyone?

The IP address Scott got when the post was done is probably from the corporate HTTP proxy server. The address can prove that the post was done from VOOM, but there's no way to track it behind the corporate firewall.

 

[goaliebob99]

i know were all keeping it internally.. sense were not posting it.. i missed out on the infamous memo.. can some one pm me with it or pm me what it sayed..

 

[ddlsmith]

I don't want to get into trouble and put the actual link but "THE MEMO'" we aren't supposed to post anymore is on Newsday.com. Why is it OK for them and not here?

 

[rtt2]

Or it can be from the persons personal computer or blackberry. Remember Cablevision is also a provider of High Speed internet. It gives all employees internet and Tv for free. So I am sure they could track an IP address

 

[energetik]

My Google News Alert went off:

Cablevision to sell satellite business-source
Thu Jan 20, 2005 04:28 PM ET
NEW YORK, Jan 20 (Reuters) - Cablevision Systems Corp. (CVC.N: Quote, Profile, Research) has agreed to sell its money-losing Rainbow DBS satellite television business, possibly to its founding family, a source familiar with the family said.

Analysts and the source estimated a sale of Rainbow DBS, which operates the Voom satellite service, would be worth about $200 million.

"(The Dolans) wouldn't have a problem being able to finance the purchase at that price, given (Charles Dolan, Cablevision chairman's) net worth," the source said. "The issue is it's a huge operating bleed."

Cablevision declined to comment.

FULL ARTICLE:
http://yahoo.reuters.com/printerFriendlyPopup.jhtml?type=quotesCompanyNews&storyID=7386804

 

[energetik]

JUST UPDATED:

UPDATE 1-Cablevision to sell satellite business-source
Thu Jan 20, 2005 04:56 PM ET
(Adds details, background)

By Kenneth Li

NEW YORK, Jan 20 (Reuters) - Cablevision Systems Corp. (CVC.N: Quote, Profile, Research) has agreed to sell its money-losing Rainbow DBS satellite television business, possibly to its founding family, a source close to the family said.

A sale of Rainbow DBS, which operates the Voom satellite service, would be worth about $200 million, according to analysts and the family source.

The source said given the wealth of Charles Dolan, Cablevision chairman, he would have little problem financing the deal. "The issue is it's a huge operating bleed," the source added.

Cablevision declined to comment.

Rainbow DBS was originally earmarked for a spin-off, but that plan was shelved in December after it drew the ire of many analysts and investors that viewed the unit as economically unviable and a drain on Cablevision's cash.

The source said Cablevision, which has held discussions to sell the satellite business to EchoStar Communications Corp. (DISH.O: Quote, Profile, Research) , is continuing those discussions, contrary to media reports that those talks had fallen apart.

An EchoStar spokesman was not immediately reachable.

Voom, aimed at devotees of high-definition television, had 26,000 subscribers as of Sept. 30, compared with 13.5 million subscribers to DirecTV, the largest U.S. satellite service.

Third quarter operating losses swelled to $75.3 million from $29.5 million a year-earlier. It posted $5.9 million in revenue and generated no revenue a year earlier.

Cablevision shares closed up 4.51 percent on Thursday at $25.48 on the New York Stock Exchange.

 

[Walter L.]

Q:

I don't want to get into trouble and put the actual link but "THE MEMO'" we aren't supposed to post anymore is on Newsday.com. Why is it OK for them and not here?

A:

If VOOM were not a publicly held company it would have stayed, but I believe they have some SEC concerns about the memo and thats why they asked us to remote it and why we complied. We don't want to spend money going to court over somethiing internal posted here, especially since we dont have the money to do so.

 

[Horsnuts]

I really hope E* buys it. I'm starved for more HD!

 

[BFG]

I sure hope this ends soon, because it just keeps on dragging.