Flash!!!! There will be no official statement on Monday

[rocatman]

C. Dolan can vote however he pleases. He is a stock holder. If others dont like it they are free to sell their stock.

Yes C. Dolan can vote however he pleases but for example if there was a proposal for his new privately held company Voom LLC to obtain all the remaining Rainbow DBS assets for free or at a low price while sticking Cablevision with all the liabilities, the SEC would not approve the proposal and would be after C. Dolan for what is commonly known as self dealing. I hope you can understand why this type of deal is not allowed.

I feel that some folks on this forum thought that once C. Dolan stacked the Cablevision board with new members that he could just ram whatever he wanted through the board and now are disappointed that no announcement was made after today's board meeting. The fact that the SEC is not going to approve any proposal unless it can be shown that it is fair to all the Cablevision stockholders regarding price and assumption of liabilities is what may be holding up a deal. Now what might be considered fair to the Cablevision stockholders may be a deal that is at least equivalent to the costs of just shutting down Voom. There are some complications with this as well including the corporate tax advantages of just writing off the losses.

 

[James Long]

C. Dolan can vote however he pleases.

C Dolan isn't the only board member. Apparently his hand picked changes didn't lead to the landslide victory that some predicted.

It seems a good idea for the board to spend the night considering the decision to be made and not rush to a result that they would regret.

JL

 

[Spike]

Can someone please tell me How to use the ignore feature in this forum. I'm not finding it.

 

[Spike]

Found it!

 

[texansgal8]

Found it!

Oh don't worry about it, just probably some D* tv troll...lol....

 

[fsds]

Just in Denver Post


VOOM FATE MAY REST WITH ECHOSTAR

Cablevision's chairman wants to keep its high- definition service despite a pending satellite sale.

By Kimberly S. Johnson
Denver Post Staff Writer





EchoStar Communications Corp. chief executive Charlie Ergen may control the fate of a fledgling satellite-TV service owned by a major cable company.

EchoStar, based in Douglas County, agreed to purchase Cablevision System Corp.'s Rainbow 1 broadcast satellite for $200 million in January.

But Cablevision chairman Charles Dolan wants to buy the high-definition Voom service from Cablevision despite the pending satellite sale.

Dolan, to the dismay of Cablevision board members who successfully voted to shut down Voom, is said to be in talks with Ergen to either buy back the satellite or lease it to continue serving Voom's 46,000 subscribers.

Ergen "will exact every pound of flesh he can. It has to be worth his while," said Paul Maxwell, chairman of Golden- based Media Business Corp., which publishes newsletters about the cable and satellite industry.

Last week, Dolan ousted three board members who opposed Voom, replacing them with stronger allies, including John Malone, chairman of Liberty Media Corp., based in Douglas County.

Cablevision's new board met Monday but reportedly took no action on Voom.

EchoStar bought the satellite to provide additional programming and services, such as local and high-definition programming, to its 11 million Dish Network subscribers.

EchoStar officials had no comment Monday when asked about the status of the Voom deal or talks with Dolan.

The satellite purchase still needs approval from the Federal Communications Commission.

"It's hard to see how they can stay in operation and not experience a service disruption without some assistance from EchoStar," said Bob Scherman, editor and publisher of Satellite Business News.

James Dolan, the CEO of Cablevision and son of Charles Dolan, opposes keeping Voom alive. Last year, Voom reported a loss of $661.4 million.

"Voom has really failed in the market. It's been an albatross on the (Cablevision) stock," said Matthew Harrigan, managing director for Janco Partners Inc. in Greenwood Village.

Cablevision, based on Long Island, N.Y., serves 2.9 million cable subscribers, primarily in the New York area.

Staff writer Kimberly S. Johnson

 

[TheForce]

"Cablevision's new board met Monday but reportedly took no action on Voom."

More press that makes up press.

I want to know who reported "no action." If this writer has the same information we have then she only knows that whatever was or was not discussed was not disclosed. Since she credited other sources in the article, then the lack of a credit, even one that "wishes to remain annonymous" tells me she just made that up making readers believe she has some inside scoop that other responsible writers don't have.

There are those that say...
Some people are reporting that...
It is a common belief that...
The consensus is...

yadayadayada...

When there is no news some reporters just make up stuff. Any liar can write stuff for a paper or state it in front of a TV camera or a radio station microphone and most of the people will believe it just because it is in the media.

 

[JimP]

Don,

I agree with you. There is a difference between objectively reporting news and this article in the news that doesn't actually contain any news.

It sounds too much like they had to write something without any real information.

 

[vurbano]

Oh don't worry about it, just probably some D* tv troll...lol....

Hmm you dont say?

 

[vurbano]

Oh don't worry about it, just probably some D* tv troll...lol....

Hmm you dont say?

Found it!

Me too.

 

[mindstein]

Don’t have much of a choice, I have the auto-billing option to a credit card and I heard that the billing section of the web site is still down. Besides, if I did not pay by the due date, would they not charge a late fee? That would probably offset any prorated savings if any.

That is interesting, The day before they announced shutdown, they contacted me to re establish my credit card since it expired last month. Now I am thinking about paying by check and cancelling the credit card. They bill me at the end of the month. Wonder what the chances are of getting and paying a bill before the 31st is?

 

[nystrand]

The Denver Post

Voom fate may rest with EchoStar
Cablevision's chairman wants to keep its high- definition service despite a pending satellite sale.
By Kimberly S. Johnson
Denver Post Staff Writer

Tuesday, March 08, 2005 -

EchoStar Communications Corp. chief executive Charlie Ergen may control the fate of a fledgling satellite-TV service owned by a major cable company.

EchoStar, based in Douglas County, agreed to purchase Cablevision System Corp.'s Rainbow 1 broadcast satellite for $200 million in January.

But Cablevision chairman Charles Dolan wants to buy the high-definition Voom service from Cablevision despite the pending satellite sale.

Dolan, to the dismay of Cablevision board members who successfully voted to shut down Voom, is said to be in talks with Ergen to either buy back the satellite or lease it to continue serving Voom's 46,000 subscribers.

Ergen "will exact every pound of flesh he can. It has to be worth his while," said Paul Maxwell, chairman of Golden- based Media Business Corp., which publishes newsletters about the cable and satellite industry.

Last week, Dolan ousted three board members who opposed Voom, replacing them with stronger allies, including John Malone, chairman of Liberty Media Corp., based in Douglas County.

Cablevision's new board met Monday but reportedly took no action on Voom.

EchoStar bought the satellite to provide additional programming and services, such as local and high-definition programming, to its 11 million Dish Network subscribers.

EchoStar officials had no comment Monday when asked about the status of the Voom deal or talks with Dolan.

The satellite purchase still needs approval from the Federal Communications Commission.

"It's hard to see how they can stay in operation and not experience a service disruption without some assistance from EchoStar," said Bob Scherman, editor and publisher of Satellite Business News.

James Dolan, the CEO of Cablevision and son of Charles Dolan, opposes keeping Voom alive. Last year, Voom reported a loss of $661.4 million.

"Voom has really failed in the market. It's been an albatross on the (Cablevision) stock," said Matthew Harrigan, managing director for Janco Partners Inc. in Greenwood Village.

Cablevision, based on Long Island, N.Y., serves 2.9 million cable subscribers, primarily in the New York area.

Staff writer Kimberly S. Johnson can be reached at 303-820-1088 or kjohnson@denverpost.com.

 

[riffjim4069]

Ok, I am officially getting tired of playing the waiting game. For the record, I am still expecting new channels and the release of the HD DVR by the end of the month. This ordeal appears to be impacting the planned release of new services and Lil' Jimmy is to blame! Boiling the the cyber tar & feathers.

 

[gutter]

Again, C. Dolan is not dumb like his son Jimmy. He has a bevy of lawyers who advise him on how to do what he wants to do or let him know that there could be trouble if he does it the wrong way. So far in his career, he has avoided the big mistakes.

 

[Juan]

So did they close down Voom yet?

 

[Sean Mota]

So did they close down Voom yet?

have you seen any indication that would tell you so?

 

[Juan]

Again, C. Dolan is not dumb like his son Jimmy. He has a bevy of lawyers who advise him on how to do what he wants to do or let him know that there could be trouble if he does it the wrong way. So far in his career, he has avoided the big mistakes.

His "dumb" son Jimmy was only implementing wwhat cablevisions "independent" advisory board recommended he do. He was acting in the best interest of the shareholders and attempting to protect cablevision from any further catastrophic losses from "voom"

 

[gutter]

His "dumb" son Jimmy was only implementing wwhat cablevisions "independent" advisory board recommended he do. He was acting in the best interest of the shareholders and attempting to protect cablevision from any further catastrophic losses from "voom"

I agree that it would be in the short term interests of stockholders but not the longterm interests. Stockholders bought shares in the company based on the history and insight of C. Dolan and company. They trusted his judgment and he has shown that he beats Wallstreet conservative thinking almost every time. They knew the ground rules and the personal stock control C. Dolan could exercise at any moment when they bought the stock. ( or at least they should) His control and right to exercise that control has always been a matter of public record.

In addition, stockholders should not be pleased with Jim Dolan either.

"In the best interest of stockholders and fans, the best thing you would hope is that the Garden could be sold and put into better hands," said Bob Gutkowski, CEO of Criterion Sports and Entertainment Inc. and a former Garden president. "Short of that, maybe it would be a better fit if [Araskog and Biondi] kept an eye on Jimmy."

Another sports business executive, who asked not to be identified, agreed, saying, "Rand and Frank are around to rein in Jimmy."

 

[bryan27]

For the record, I am still expecting new channels and the release of the HD DVR by the end of the month. This ordeal appears to be impacting the planned release of new services and Lil' Jimmy is to blame! Boiling the the cyber tar & feathers.

Great post. Can I use it at jimdolansucks? Like you I am getting tired of all this waiting.

 

[riffjim4069]

Great post. Can I use it at jimdolansucks? Like you I am getting tired of all this waiting.

Yes, please do. Great website by the way.