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Voom news boosts Cablevision stock
BY HARRY BERKOWITZ
STAFF WRITER
February 12, 2005
(NewsDay.com) Cablevision's stock price rose more than 3 percent Friday on news that chairman Charles Dolan plans to personally take over the remaining pieces of the company's struggling Voom satellite TV service as a private business.
But announcement of the plan late Thursday left many unanswered questions that could dramatically affect Cablevision Systems Corp., its founding chairman and its chief executive James Dolan, who split with his father Charles over Voom.Foremost among the questions is how Charles Dolan can raise financing for the money-losing venture, which has already cost Cablevision $1.4 billion.
"Investor speculation is now focused on his willingness to potentially sell Cablevision outright, including the highly coveted cable systems," said Merrill Lynch analyst Jessica Reif Cohen, adding that Voom needs $400 million in 2005 financing.
For Cablevision, unloading Voom quickly could save money. Although Dolan would not pay for the assets, he would assume some commitments.
Cablevision "could save roughly $100 million of cash flow from the wind-down of expenses," investment firm Friedman Billings Ramsey said of the Dolan plan for Voom, formally called Rainbow DBS. "We believe this change, which still hangs on financing, would remove the final overhang of the Rainbow DBS debacle."
Cablevision stock gained 87 cents per share to $27.46 Friday.
Dolan has to raise financing by Feb. 28, the deadline set by a special committee of four independent Cablevision directors for a definitive agreement.
"The Dolans' financing alternatives appear limited," Reif Cohen said. "We doubt a partner could be found to fund the cost of maintaining a niche commercial satellite video operation."
Dolan, a billionaire, controls 75 percent of Cablevision's shareholder vote and directly controls 30.8 million shares, worth $845 million, part of which he presumably could use as collateral.
BY HARRY BERKOWITZ
STAFF WRITER
February 12, 2005
(NewsDay.com) Cablevision's stock price rose more than 3 percent Friday on news that chairman Charles Dolan plans to personally take over the remaining pieces of the company's struggling Voom satellite TV service as a private business.
But announcement of the plan late Thursday left many unanswered questions that could dramatically affect Cablevision Systems Corp., its founding chairman and its chief executive James Dolan, who split with his father Charles over Voom.Foremost among the questions is how Charles Dolan can raise financing for the money-losing venture, which has already cost Cablevision $1.4 billion.
"Investor speculation is now focused on his willingness to potentially sell Cablevision outright, including the highly coveted cable systems," said Merrill Lynch analyst Jessica Reif Cohen, adding that Voom needs $400 million in 2005 financing.
For Cablevision, unloading Voom quickly could save money. Although Dolan would not pay for the assets, he would assume some commitments.
Cablevision "could save roughly $100 million of cash flow from the wind-down of expenses," investment firm Friedman Billings Ramsey said of the Dolan plan for Voom, formally called Rainbow DBS. "We believe this change, which still hangs on financing, would remove the final overhang of the Rainbow DBS debacle."
Cablevision stock gained 87 cents per share to $27.46 Friday.
Dolan has to raise financing by Feb. 28, the deadline set by a special committee of four independent Cablevision directors for a definitive agreement.
"The Dolans' financing alternatives appear limited," Reif Cohen said. "We doubt a partner could be found to fund the cost of maintaining a niche commercial satellite video operation."
Dolan, a billionaire, controls 75 percent of Cablevision's shareholder vote and directly controls 30.8 million shares, worth $845 million, part of which he presumably could use as collateral.
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2475 views
J
I'm in agreement. You wouldn't want an announcement like this made unless you already knew you could come up with the financing.
Scott Greczkowski said:I believe that he already has the financing although I am sure he would want more. I can't see them announcing this deal without having all their ducks lines up in a row.
I'm in agreement. You wouldn't want an announcement like this made unless you already knew you could come up with the financing.
Supporting Founder
Several Dish offers showed up today in my account. Once you choose one the rest are removed. Offers were Showtime, Starz, AMC and others.
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1641 views
Not for me, mines has no mention of how long aka the offer period and the Terms and conditions the $0.00 is good for. All I see is one can lose $5.00 if you decide to remove it before day 31 after you add it to the account.
You have a different offer that is free for a shorter timeframe which is different than the one that I and bnewt saw without defining the promotion period as I sent the question to DISH Care via Facebook Messenger and this is the response I got back 20 minutes ago.
I thought I would come here and find lots of complaints about the update to the dish anywhere mobile app, but am not seeing any. It used to look just like the desktop webpage. Now you can no longer filter by sports channels or movie channels. Plus that they made it look like a big button telephone and you see fewer channels in the screen which requires more scrolling. Yes I realize you can look at sports then select which sport you want to look at, I just liked being able to see all sporting events in the guide with all other channels being filtered out. Am I alone in the wilderness on this?
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73 views
Supporting Founder
Pub Member / Supporter
Lifetime Supporter
Apple has finally released their Apple TV 4K with built-in Siri and a microphone so it can respond to your queries even if you don't have the remote. It also increases in price, to $299. I had been planning on updating my current Apple TV 4K streamers, but that's $600 for the two of them, and that's a pass at this point.
At $299, it had better come with 256 GB of Storage, Gigabit (or better) Ethernet, the latest HDMI tech and standards, and one year of free Apple One. But it probably won't…
At $299, it had better come with 256 GB of Storage, Gigabit (or better) Ethernet, the latest HDMI tech and standards, and one year of free Apple One. But it probably won't…
Apple TV 4K
Apple TV 4K. New Siri AI and hands-free control. Stunning picture and immersive HomePod surround sound. Works with your Apple and smart home devices.
www.apple.com
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242 views
S
. apple's been making money off of software and not hardware for a while
they all do that anyways.. ever notice your cell phone slows down when you come up for an upgrade..
. apple's been making money off of software and not hardware for a while
TWiT Tech Podcast Network
Time for another AWESOME video from the TWIT Network!
View: https://www.youtube.com/watch?v=Y4Edq2eavsQ
Direct YouTube Link - This Week in Space 232
TWIT's Website
TWIT Live Feed
View: https://www.youtube.com/watch?v=Y4Edq2eavsQ
Direct YouTube Link - This Week in Space 232
TWIT's Website
TWIT Live Feed
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6 views
TWiT Tech Podcast Network
Time for another AWESOME video from the TWIT Network!
View: https://www.youtube.com/shorts/oRVxjGm0qtE
Direct YouTube Link - Tim Cook, Elton John & King Charles: A Royal Tech Event
TWIT's Website
TWIT Live Feed
View: https://www.youtube.com/shorts/oRVxjGm0qtE
Direct YouTube Link - Tim Cook, Elton John & King Charles: A Royal Tech Event
TWIT's Website
TWIT Live Feed
0 Replies
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5 views
TFLEV
Time for another AWESOME video from TFL Electric Vehicles!
View: https://www.youtube.com/watch?v=MyF_RH1m0mc
Direct YouTube Link - Watch the New Tesla Roadster Jump, Fly and Barrel-Roll in Mid-Air!
View: https://www.youtube.com/watch?v=MyF_RH1m0mc
Direct YouTube Link - Watch the New Tesla Roadster Jump, Fly and Barrel-Roll in Mid-Air!
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12 views
TWiT Tech Podcast Network
Time for another AWESOME video from the TWIT Network!
View: https://www.youtube.com/shorts/0k5iT-OlpdE
Direct YouTube Link - The Apple HomeView
TWIT's Website
TWIT Live Feed
View: https://www.youtube.com/shorts/0k5iT-OlpdE
Direct YouTube Link - The Apple HomeView
TWIT's Website
TWIT Live Feed
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4 views
Pub Member / Supporter
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61 views
But.....if you like Tulsa King....looks like you would probably like this as well. I don't mind spin-offs as long as they don't involve a sassy niece who moves from the big cityAnother Tulsa King spin off.
Anyone else watch this show? Any guesses as to what was in the box Gibbs gave to Abby that was on her desk? It look liked it was glowing.
I also heard that someone was leaving the show at the end of this season. Any guesses as to who thats going to be?
I also heard that someone was leaving the show at the end of this season. Any guesses as to who thats going to be?
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214692 views
Tony as the director.
Would you rather have LaRoche ???Tony as the director.
No. Bring in someone new.
Tony is not serious enough for me. Parker is too close to the team and Tim is too young to take over IMO.
I don't think Tim and Tony are that far apart in Age ...No. Bring in someone new.
Remember what Tony said to Tim when they first got back together ...
Tony said: I am the New Tony, Tim .... (something to that effect)
Tony has changed, he's been running his Security Business ... I'm sure he has grown up.
Give it time ... your judging the New Tony from the old Tony.
It sounds like Tim won't be around the Team much longer either.
Pub Member / Supporter
Lifetime Supporter
Might be worth a watch when it comes out. Looks like typical big corp against the little guy movie BUT....there is a reason this plot type is so oft repeated, it draws audiences.
View: https://www.youtube.com/watch?v=_-f9OGsKHd4
View: https://www.youtube.com/watch?v=_-f9OGsKHd4
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17 views