John Malone comments on VOOM

[fredfa]

John Malone on VOOM

In a lengthy and wide-ranging interview in the upcoming April 4 issue of Broadcasting and Cable, John Malone talks about a lot of issues facing the broadcast, satellite and cable industries.
Here is an excerpt relating to Cablevision, Chuck Dolan and VOOM.

Here in New York, Cablevision is embroiled in a two-front tabloid battle: over the purchase of a potential stadium site and the struggle in the boardroom between Cablevision Chairman Chuck Dolan and his son, President/CEO James Dolan. At issue is the direction of Cablevision’s HD satellite service called VOOM. Years ago, you were briefly on the Cablevision board; now you’ve joined it again. What’s up?

I’m an old friend of Chuck’s. TCI used to own 30% of them. So I was on the board for a while, and I think I have good relations with both Chuck and Jimmy. Chuck asked me to do it, so I said for old time’s sake, sure.

What do you think is going to happen there with respect to Voom?

Well, Voom will clearly either be continued by Chuck personally, or it will cease to exist. I have declined to do that on behalf of Liberty on a number of occasions. Does he want my advice on anything I could be useful for relative to Voom? He’s got it, you know? Chuck’s problem is, he’s a public company and he really should be a private company. To be willing to play the cards as hard as Chuck plays the cards, you almost have to be private. It’s hard to find public directors who will support the management in a transaction that they perceive to be as risky as Voom. If you’re going to be exceptionally successful, you need an exceptional leader who has got to be a risk-taker, and he needs a board of directors who will support him. A lot of people have lost money betting against Chuck.
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The entire interview is here:
http://www.broadcastingcable.com/article/CA514729.html?display=Feature&referral=SUPP

 

[Vicki]

Ohhhhhhhhhhhhh....I'm scared! Especially by this part...

A lot of people have lost money betting against Chuck.

Vicki

 

[salsadancer7]

...According to everything I have read....you will have VOOM when you "grab it from my cold dead hand!" GO CHUCK GO!

 

[riffjim4069]

VOOM Need to go PRIVATE!!!

Chuck’s problem is, he’s a public company and he really should be a private company. To be willing to play the cards as hard as Chuck plays the cards, you almost have to be private. It’s hard to find public directors who will support the management in a transaction that they perceive to be as risky as Voom.

Well, this pretty much sums it up.

 

[andrzej]

Well, this pretty much sums it up.

And that's what Chuck is trying to do, isn't he? I.e., make it private.

 

[gutter]

I think Malone hit it on the head. A person like Chuck should be in 100% control and not have to think of stockholders. visionairies need room to move.

 

[riffjim4069]

And that's what Chuck is trying to do, isn't he? I.e., make it private.

Yep, but the sale of Rainbow-1 and 61.5 licenses made for one hell of a legal and logistical mess. VooM would be a private company at this very moment if it weren't for Jimmy Dolan's lil' temper tantrum - he made a real mess of his fathers store. No sane person with brainwave activity can dispute this fact. Anyway, at this point it may make better sense to shutdown VOOM, buy the existing technology and start fresh. Personally, I like the name ZOOM. Thankfully we still have our sense of humor!

 

[uboatcmdr]

I think Malone hit it on the head. A person like Chuck should be in 100% control and not have to think of stockholders. visionairies need room to move.

Or in Chucks case "room to Voom"

 

[rad]

I think Malone hit it on the head. A person like Chuck should be in 100% control and not have to think of stockholders. visionairies need room to move.

And to risk his own money and not the shareholders.

 

[gutter]

And to risk his own money and not the shareholders.

Either way, most of the money his his to loose. He would be the biggest looser or the biggest to gain.

 

[Burt]

Wake up people! Voom business plan is a money loser, public or private.
Would you invest money in this so called venture?

 

[niceprophet]

Either way, most of the money his his to loose. He would be the biggest looser or the biggest to gain.

Not true... Most of the money lost (while Voom is a part of Cablevision) is NOT his... Hence the problem - he's currently playing with other people's money and losing.

 

[TommyBoyTX]

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"Wake up people! Voom business plan is a money loser, public or private.
Would you invest money in this so called venture?"
BURT says​

Can't look at today... tomarrow is were the money is to be made. HD is the future.

Voom is that venue ...

 

[gutter]

Wake up people! Voom business plan is a money loser, public or private.
Would you invest money in this so called venture?

Wake up troll. You spend your money your way and we will spend ours our way. So how many billions are you worth? If you know so much...go out and earn it and report back. Then we may believe you.

 

[rad]

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"Wake up people! Voom business plan is a money loser, public or private.
Would you invest money in this so called venture?"​

Can't look at today... tomarrow is were the money is to be made. HD is the future.

Voom is that venue ...

Maybe a couple of decades ago, today is the age of show me the money. If the stock holders and Wall Street analysist don't see profits and dividends they dump the stock. If the board of directors continue to OK a money loosing operation they leave themselves open to being sued.

 

[socalpanman]

Wake up people! Voom business plan is a money loser, public or private.
Would you invest money in this so called venture?

In a heart beat.

What part of vision and cutting edge don't you get? But sure this kind of thing in today's business world will only be done with a private company.
To follow his vision Dolan needs Cablevision to follow the Dole Food corporate model and go private or at the very least insure Voom HD LLC is private.

 

[Vicki]

Yep!!! If I had any...you betcha!! Vicki

 

[RobR7]

Ok, someone help me out here...

I'm a Jets fan, so Cablevision and the stunts they've been playing really smell like rotten evil corporation type stuff.

My question is, was this rotten stuff even under Poppa Dolan? I admire his commitment to Voom and I may sub just to support a company with more creds than D* (Murdoch Empire) or Comcast (all that is wrong with monopolies)... but if all three are moral equivs, I guess I'll stay put.

What's the word?

 

[Tvlman]

The previous HBO experience is probably in the back of Chuck's mind. He partnered HBO with Time, Inc. and at the time it was a visionary and bold move. No one thought Pay Tv would ever work but it did. As I understand the story Chuck left HBO before all the money and accolades began to pour into HBO. He doesn't want that to happen again with VOOM. We know that HDTV is the wave of the future but just how far in the future is the profit? 3 years.....5 years.....10???

 

[iml]

Now is the time for Voom though, not 5 or 10 years.

They have a HUGE lead on the competition right now, so it is just a matter of proper marketing while they have the edge.

Someone asked if I would invest in a company like Voom, you bet I would. I have been investing in stocks a long time and you don't get rich on the "safe" bets. In fact, those so called safe bets have ruined a lot of people. You get rich on the cutting-edge, visionary companies that make it.

I have been watching this forum for a long, long time pondering Voom, and now that I finally pulled the trigger on ordering I would hate to see it go. I really can't understand why anyone would want to see it fail to be honest. Voom is the best thing going for HD right now.

HD is going to grow huge over the next few years. It would be sad to see a cutting-edge company like Voom go away on the tip of an increase in HD in the consumer market.

Personally, D* will never see a penny of my money, period. In addition, I have already given too much money to TW for only a few HD channels (terrible quality at that).

I, for one, hope Voom survives. Competition is a good thing for consumers.