gutter said:
There can be many parts to the puzzle that we may have not seen. As of last week you are correct. But that was last week.
Right. It makes more sense to have both companies ignore that in their press releases and leave 26,000 Voom customers without a clue if there were to be a service when E* takes over the satellite. V* has done stupid things. E* has done stupid things. But really! BOTH companies simutaneously pulling off the same stupid thing of not mentioning the customers? Sheesh.
The deal announced last week WAS the deal made.
One satellite, Rainbow1, transfered to E*.
Eleven transponder licenses, 1-21 odd on 61.5, transfered to E*.
One nearly complete uplink center in SD, transfered to E*.
$200mil, transfered to Cablevision.
ALL OTHER ASSETS OF VOOM - still owned by Cablevision.
(That's their NY uplink center, their content, their unbuilt licenses, their obligations and liabilities and last and least, their customers.)
The deal is done. Pending regulatory approval E* owns Rainbow1 and the licenses and uplink center REGARDLESS of what Cablevision does with it's other assets.
One question for all the brilliant people blinded by hope:
If there was a deal to keep Voom alive why isn't it being reported?
It seems the first step in a reorganization is to say where you are going. But this isn't a reorganization. This is a liquidation and Cablevision had a willing buyer for Rainbow1 and the licenses - at a fire sale price! If Cablevision wanted to raise enough money to keep Voom in business they wouldn't be selling assets at a fraction of their value.
JL