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definitee@yahoo.com
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Cablevision Enters into Interim Agreement Regarding VOOM
Bethpage, N.Y., March 8, 2005 â€" Cablevision Systems
Corporation (NYSE:
CVC) announced today that it has entered into an agreement with its
Chairman, Charles F. Dolan, and Thomas C. Dolan, pursuant to which the
parties will work cooperatively to finalize the separation from
Cablevision of its Rainbow DBS operation. The agreement allows Rainbow
DBS to remain in operation and to continue to provide its VOOM service
to subscribers while Charles and Thomas Dolan seek to arrange an
alternate transaction that would avoid a shutdown of Rainbow DBS.
Charles Dolan has agreed to fund any costs incurred by Rainbow DBS
above those that would have been incurred under a shutdown scenario.
The agreement, which was approved by the Board of Directors of
Cablevision at a board meeting today and by a special committee of
independent directors, terminates on March 31, 2005.
http://www.cablevision.com/index.jhtml?id=2005_03_08
We'll see what happens.
------------------------
Bethpage, N.Y., March 8, 2005 â€" Cablevision Systems
Corporation (NYSE:
CVC) announced today that it has entered into an agreement with its
Chairman, Charles F. Dolan, and Thomas C. Dolan, pursuant to which the
parties will work cooperatively to finalize the separation from
Cablevision of its Rainbow DBS operation. The agreement allows Rainbow
DBS to remain in operation and to continue to provide its VOOM service
to subscribers while Charles and Thomas Dolan seek to arrange an
alternate transaction that would avoid a shutdown of Rainbow DBS.
Charles Dolan has agreed to fund any costs incurred by Rainbow DBS
above those that would have been incurred under a shutdown scenario.
The agreement, which was approved by the Board of Directors of
Cablevision at a board meeting today and by a special committee of
independent directors, terminates on March 31, 2005.
http://www.cablevision.com/index.jhtml?id=2005_03_08
We'll see what happens.
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