This AM most (if not all) Finance Institutions have VOOM Shutdown

[Sean Mota]

2/28/05: One PR Wire: VOOM Announces Continued Service

2pm on 3/1/04: Wall Street Journal Voom's Future Is Uncertain Amid Conflicting Statements



All Finance Institutions have ignored the PR Wire about VOOM continuing service and have declared the shutdown according to the wire released by James Dolan. (Update see WSJ at 2pm First one)


Finance Institutions

Forbes.com Dolan: No Dice On Voom Deal For Cablevision Chairman

Business - AP Cablevision Shuts Down Voom Service

theStreet.com Cablevision's Voom Deal Falls Through

Newsday Cablevision's Voom goes boom

NYPost DEAL FOR VOOM FALLS THROUGH

Iwon Money: Cablevision To Shut Down Voom; Couldn't Sell Remaining Operations

Business Wire: Cablevision and VOOM HD End Discussions without Agreement Regarding Sale of Rainbow DBS

Broadcasting and Cable : Analyst Praises Voom! Doom

News Scan: Cablevision to shut down Voom.

Financial Times : Cablevision to close Voom HDTV service

Wall Street Journal.

Voom Goes Boom
Broadband Reports Tue, 01 Mar 2005 10:58 AM PST
Dolan's dream takes a tumble. Cablevision's Voom satellite business didn't do well, and Cablevision chairman Charles Dolan had hoped to buy the venture and resuscitate it. Analysts had predicted that in order to raise capital to buy out the venture, he might need to sell Cablevi..


VOOM To Be Closed In 30 Days
DesignTechnica Tue, 01 Mar 2005 11:04 AM PST
Businessweek is reporting that the HDTV satellite service VOOM will be shut down in 30 days, this time for good.

 

[Indy]

Bummer

 

[gutter]

How much of these headlines are do to publishing deadlines of last night before the second release? I am just curious if that is part of the response or the reason the second release was ignored.

 

[Sean Mota]

IMO, a lot of these people have vested interest in stocks at CVC (themselves or through clients). This is the only they know CVC will survive (by shutting down VOOM). No coincidence that they are all singing the same tune.

 

[TheTimm]

Business - AP Cablevision Shuts Down Voom Service

Dewey Defeats Truman

 

[Indy]

IMO, a lot of these people have vested interest in stocks at CVC (themselves or through clients). This is the only they know CVC will survive (by shutting down VOOM). No coincidence that they are all singing the same tune.

I think we are all privy to seats behind home plate to watch the Dolan's play hardball. Not over until a winner is confirmed. I would'nt be surprised if the Voom service goes dark for a day or so during the the big game then returns with a bunch of victorious headlines.

 

[mkwillia]

As a casual customer, I can appreciate this fight and the excitement that has come along with it but as a consumer I am getting a little concerned. I hope they continue service with NO interruption of service. I don't know how many would wait through that period until they work out the financing. (that would be a great poll question)

Going from 26K to 46K is impressive and shows the viability of the product. I just hope it is not "to little, to late"

Mike

 

[Sean Mota]

If you see other financial institutions proclaiming shutdown or continuing service please post here and I will add to the first post. If you can get a link that will be great.

 

[John Kotches]

If one compares the two business wire reports directly from Cablevision and Rainbow DBS, I believe that the following interpretation is fairly accurate:

The deadline for negotiating a "savior" deal for Rainbow DBS has come and gone. The two Dolans trying to save Rainbow are asking for more time to negotiate a deal.

It is entirely within the rights of Cablevision to enforce the existing agreement, and shutting down the service in 30 days. Whether this happens or not is another story.

Cheers,

 

[tvrobert]

I'm just sorry that this might make Phil Swann even MORE arrogant.

 

[pauljk]

Dewey Defeats Truman

LOL! In three words you summed up my thinking exactly!

Paul

 

[Bruce]

I'm just sorry that this might make Phil Swann even MORE arrogant.

He does not need any help.

 

[1080iBeVuMin]

I heard a Comcast cable radio ad this morning that says Comcast will buy your satellite equipment if you switch to Comcast cable. Voom is probably too small for this turmoil to have triggered the Comcast ad, but still I wonder.

I love the "Dewey Beats Truman." Let's hope for the same outcome!

Another day, another trauma.

 

[Bruce]

I heard a Comcast cable radio ad this morning that says Comcast will buy your satellite equipment if you switch to Comcast cable. Voom is probably too small for this turmoil to have triggered the Comcast ad, but still I wonder.

I love the "Dewey Beats Truman." Let's hope for the same outcome!

Another day, another trauma.

That's been going on for a while, and I used that deal when I dropped E* two weeks ago.

 

[Peter Parker]

IMO, a lot of these people have vested interest in stocks at CVC (themselves or through clients). This is the only they know CVC will survive (by shutting down VOOM). No coincidence that they are all singing the same tune.

that'sa pretty serious charge Sean. I would agree that the VOOM HD LLC press release should be mentioned. But frankly Cablevison owns VOOM right now. Let's all just wait a few days to see if this is negotiation posturing or whether VOOM indeed met its doom.

 

[Sean Mota]

That's why I started with "IMO". Again, IMO, the bottom line that is driving this whole thing is the investors. They do not want money to be thrown out of the window.. That is their money. To quote one of those analyst, he said a month ago something like this: "we all know HD will be profitable and it is a good venture, but my clients are not into the future business. They want their money now." I am only paraphrasing. I carried the quote on my signature for 21 days if you did not see. That's the bottom line.

 

[Sean Mota]

And just to add: What is really sad... is that they all have ignored (so far) the Press Release. Makes you wonder why since it was made public since last evening. Their objectivity journalism has been clouded by whatever happens to be their agenda. Sad to say...

 

[Peter Parker]

Well I think a lot of people are a little less than objective in all this. Again let's see how the dust settles.

 

[Amphicar770]

Will be interesting if nothing else.

Is VOOM still signing up new subscribers as of today?

 

[Vreesar]

Yep, my cousin signed up about an hour ago.