Voom purchase takes shape

March 13, 2005

voomI know the Voom articles have taken up a lot of space here, but hey I’d rather write about what interests me. If you’ll indulge me yet again, I promise that this time there’s more than empty promises and false hopes in the Voom drama.

Last week as some of you may know, Charles Dolan in essence said “I’ll fund Voom this month” and he laid down 10 million dollars to back it up, ensuring Voom lasts at least until the end of the month. Now that in of itself may not be that impressive, as Voom’s monthly costs could easily exceed that, but how would 5 billion dollars in potential financing sound to you? I say that sounds like someone is deadly serious about becoming more than a by-line in the DBS wars.

Enter John Malone; Malone, one of Cablevision’s new board members, has the clout in the industry to put his money where his mouth is. And in a rumored partnership with Charles Dolan, the two could easily acquire the financial backing to make the Voom purchase from Cablevision a reality rather than a pipedream.

Gleaning a little more from the NY Post article, I get the impression that once this deal is a reality, Cablevision as many know it, would cease to exist. With the sale of Madison Square Garden and Radio City Music Hall assets, Voom’s future would be shored up, and in my opinion what’s left of Cablevision would be better off as well. With the company now able to focus on what they do best, deliver in home media and not manage multi -million dollar sports arenas and live entertainment venues.

Now this story from Reuters would seem to directly contradict the above article. One things for sure when it comes to Voom, drama and contradiction are becoming the norm.

Posted by Bryan Greenway | | Filed Under HDTV Programming