- Sep 8, 2003
From our friends at SkyReport.com
Executives with Cablevision didn't talk much about their new DBS service VOOM during a third quarter conference call, but did say they expect the platform to do better than its small dish competition when it comes to subscriber acquisition costs.
Company officials didn't offer specifics, but said the VOOM platform will have lower SAC costs than EchoStar's DISH Network or DirecTV. At the moment, the service, which aims to offer 88 standard-definition digital channels and 29 high-def channels, is free to customers though February.
Also in its third quarter report, the company disclosed some accounting issues.
Cablevision said an audit found $15 million in improperly booked expenses in 2002 and from earlier reporting periods. The MSO said it would restate first quarter and second quarter 2003 results and revise third quarter numbers to take into account the improperly recorded expenses.
Cablevision reported a third quarter net loss of $104.6 million and revenue of $975.8 million.