Cablevision, Voom HD End Talks; Voom to Close

Mar 1, 2005  •  Post A Comment

Cablevision Systems said Tuesday it has ended discussions with Voom HD, formed by Cablevision founder Charles Dolan, without reaching a definitive agreement regarding the acquisition of Cablevision’s satellite broadcasting business not included in the previously announced sale to EchoStar.

Cablevision said the previously announced letter of intent between Cablevision and Voom HD to pursue such a transaction expired Tuesday and that as a result, Cablevision will close down the Voom business. The Voom satellite service posted a $450 million loss in the fourth quarter of 2004, the company said last week.