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Guest Message by DevFuse

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Outlook not so good...


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17 replies to this topic

#1 OFFLINE   brewerdude

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Posted 18 January 2005 - 04:50 PM

http://www.newsday.c...s-leadheadlines

...Ads Help To Support This SIte...

#2 OFFLINE   jeslevine

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Posted 18 January 2005 - 05:00 PM

http://www.newsday.c...s-leadheadlines


The father has all the shares, and he wants to keep VOOM

but even if that does not work out, there is still a good chance that dish or direct may buy it

dish already uses 61.5, and it might be a good match, especially since VOOM HD hardware already has mpeg4

We shall see, it makes there free installation and hardware deal even more attractive

#3 OFFLINE   Richard King

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Posted 18 January 2005 - 07:30 PM

Voom was the topic of discussion on CNBC this afternoon. They interviewed Tom Egan of Oppenheimer. He says that the various announcements from D* and high churn are hurting them. He says there is a high likelyhood that they will sell out to Echostar, pretty much in line with the thinking here. He says there is about a 20% chance they may just shut it down and go away. I need to call them and see if they would install an off air antenna that is "correct" for this area, one that would bring in my digital NBC and CBS from about 80 miles away. If they would install such an antenna and the required amp I just might jump on board (and add a rotor to the antenna myself so that I could get WPB and Orlando).
The Pump Don't Work 'cause the Vandals Took the Handles.

#4 OFFLINE   jeslevine

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Posted 18 January 2005 - 08:06 PM

Voom was the topic of discussion on CNBC this afternoon. They interviewed Tom Egan of Oppenheimer. He says that the various announcements from D* and high churn are hurting them. He says there is a high likelyhood that they will sell out to Echostar, pretty much in line with the thinking here. He says there is about a 20% chance they may just shut it down and go away. I need to call them and see if they would install an off air antenna that is "correct" for this area, one that would bring in my digital NBC and CBS from about 80 miles away. If they would install such an antenna and the required amp I just might jump on board (and add a rotor to the antenna myself so that I could get WPB and Orlando).

They gave me the OTA antenna with the regular install

#5 OFFLINE   Richard King

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Posted 18 January 2005 - 10:11 PM

That is standard for them, but will they use a high enough quality antenna to bring in a signal from 80 miles away? That is the deciding question. :D
The Pump Don't Work 'cause the Vandals Took the Handles.

#6 OFFLINE   sonicrob

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Posted 19 January 2005 - 01:15 AM

(and from the Wall Street Journal)
By PETER GRANT Staff Reporter of THE WALL STREET JOURNAL
January 19, 2005; Page B3
The board of Cablevision Systems Corp. reiterated its determination to shut down or sell its unprofitable satellite service over the protests of Cablevision Chairman and Founder Charles Dolan, who wants to keep it going, people familiar with the matter said.
At a three-hour meeting via phone, the board asked Cablevision's management to give it a plan for cutting back funding of the service, known as Voom, which launched about a year ago.
The board also asked for a status report on efforts to sell the business. The company has funded the service, which lost $75.3 million in the third quarter of last year, only until the end of the month, people said.
A Cablevision spokesman declined to comment.
The satellite service has created an unusual public rift between Mr. Dolan and his son James Dolan, Cablevision's chief executive. James Dolan sides with the majority of directors who voted last month in favor of shutting Voom down or selling it.
Charles Dolan has indicated that he might try to unseat some of the directors who oppose him. He would likely be able to do this because the Dolan family elects 75% of the directors through a separate class of stock that it owns. Charles Dolan is believed to control the family stake through his own shares and his influence with other family members.
Charles Dolan didn't mention the threat to replace board members at yesterday's meeting, people familiar with the matter said. But he continued to argue that Cablevision should continue funding Voom, they added.
Most investors and analysts favor pulling the plug on Voom, which has cost Cablevision over $500 million and would likely run at a deficit for years. In 4 p.m. composite trading on the New York Stock Exchange, the stock was trading down 38 cents, or 1.6%, at $23.97.
"The uncertainty will persist until they can figure out a structure to get rid of Voom," says Aryeh Bourkoff, a cable analyst with UBS Securities who downgraded Cablevision on the news of the board rift. :D

#7 OFFLINE   Fredfa

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Posted 19 January 2005 - 01:32 AM

sonicrob:
It is only decent, if you are going to repost an item from another forum, to give that forum and the poster, (in this case me) credit.
(Although, the headline you added was yours, not mine.)

#8 OFFLINE   Rodney

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Posted 19 January 2005 - 07:15 AM

One of the most interesting statements in the article is

"The board also asked for a status report on efforts to sell the business."

It would appear the desire to sell VOOM must have surfaced, and been acted on, at an earlier board meeting where it was decided to initiate those efforts. The status report basically is an indication of the level of interest displayed by contacts with potential, or likely, purchasers of VOOM.

#9 OFFLINE   brewerdude

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Posted 19 January 2005 - 09:33 AM

What I don't understand is if there's the possiblity of shutting down or selling off, why would they enter into a new contract for new satellites? And why announce new capacity? They clearly can't keep bleeding cash forever.

#10 OFFLINE   brewerdude

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Posted 19 January 2005 - 09:44 AM

Here's the result of that meeting (as reported by the NYT)

http://www.nytimes.c...ia/19cable.html

#11 OFFLINE   GoCubs

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Posted 19 January 2005 - 02:11 PM

My understanding on the satellite contracts is by entering into those agreements, VOOM is now "in line" for satellite production. When/if they sell, those contracts will have value to anyone who is seeking to build a satellite and not have to wait a long period of time.

The guys I know at VOOM are saying the Old Man is going to attempt a palace coup and replace some of the directors against him with bobo's who will vote his way. If that happens, look for Cablevision's stock to tank and for large shareholders to sue.

#12 OFFLINE   brewerdude

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Posted 20 January 2005 - 02:22 PM

http://www.newsday.c...s-leadheadlines

#13 OFFLINE   Scott Greczkowski

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Posted 20 January 2005 - 02:32 PM

Its been a busy day...

From Breifing.COM http://www.briefing....epth/InPlay.htm



09:42
CVC Cablevision: Executive memo leaked - Satelliteguys.us (23.89 -0.48)


Satelliteguys.us is reporting that an executive memo from CVC Chairman Charles Dolan and Tom Dolan (CIO) was leaked to them yesterday. The reported memo reads, "Yesterday, Cablevision's Board of Directors in a split vote passed a resolution to sell or dispose of Rainbow DBS, i.e., VOOM and VOOM 21. It is our expectation that RDBS will be offered for sale as an operating business. To do otherwise risks minimizing the return to Cablevision. Sale of RDBS requires RDBS to continue to operate normally. Potential bidders for RDBS include members of the Dolan family." The complete text of the reported memo can be found at www.satelliteguys.us. (Briefing.com note: CVC has been the subject of much speculation over the past few days in regards to what the board would do with Rainbow DBS (VOOM). This memo could be seen as positive as it may signal that VOOM will be sold and that CVC will not continue to fund the money losing operation.)


From TheStreet.COM

Memo Spells Doom for Voom
By George Mannes
Senior Writer
1/20/2005 12:38 PM EST
URL: http://www.thestreet...s/10203770.html

Cablevision (CVC:NYSE) is trying to sell Voom, and members of the cable operator's controlling family may be buyers, according to what appears to be an internal company memo.


The memo, if authentic, confirms previous reports that Cablevision's board has been divided over the fate of its money-bleeding startup satellite service, and that a majority of directors were in favor of giving up on the venture.

The memo also serves to hearten many Cablevision analysts and investors, given the prevailing belief outside of Cablevision that the Voom HDTV-focused satellite service has little chance of competing profitably with the likes of DirecTV (DTV:NYSE) and EchoStar (DISH:Nasdaq) .

Cablevision's shares rose 77 cents Thursday to trade at $25.15.

A Cablevision spokesman didn't return a call requesting comment.

On Wednesday evening, the Internet site SatelliteGuys.US posted what purported to be a memo out of Cablevision's Rainbow Media Enterprises programming unit, addressed to RME's staff.

The memo, purporting to be from Charles Dolan -- chairman of both Cablevision and Rainbow -- and Tom Dolan -- Charles' son and CEO of Rainbow -- reports that on Tuesday, Cablevision's board, in a split vote, resolved "to sell or dispose of Rainbow DBS; i.e., VOOM and VOOM 21."

"It is our expectation that RDBS will be offered for sale as an operating business," continues the memo. "Potential bidders for RDBS include members of the Dolan family."

On Thursday, Fulcrum Global Partners analyst Richard Greenfield issued a report indicating that the memo -- which he reprinted but which appears to have been pulled from the SatelliteGuys.US site -- appeared to confirm Voom's impending sale.

"While we have not been able to confirm its authenticity with CVC corporate management," wrote Greenfield, "we have confirmed with two different Rainbow Media employees that such a memo was sent out yesterday afternoon by Charles and Tom Dolan."

Greenfield, who like other analysts on Wall Street is of the opinion that Voom was a value-devouring lost cause of Cablevision's, has a buy rating on the stock.

One would suppose that Greenfield would not be passing along the memo without some confidence in its authenticity, given the NASD's recent enforcement action against a colleague of his. Last Friday, the NASD announced it had fined Fulcrum wireless telecom analyst Walt Piecyk $75,000 on charges, which Piecyk neither admitted nor denied, that Piecyk had circulated a negative rumor about RF Micro Devices (RFMD:Nasdaq) without conducting "a reasonable inquiry into whether there was a basis for the rumor."


Its going to be interesting to see how this all pans out.

#14 OFFLINE   normang

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Posted 20 January 2005 - 03:48 PM

I don't quite understand how Charlie D. can defend Voom, when its lost or cost $$ to the tune of nearly a half-billion (with a "B") dollars since its inception.. Do these guys really have that kind of money to throw around? Imagine how cable rates might be able to drop if the company was not supporting Voom. I think customers should get a rebate..
Norm


#15 OFFLINE   garypen

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Posted 20 January 2005 - 08:03 PM

The argument is now moot:

http://www.dbstalk.c...ead.php?t=37846

Originally posted by WeeJavaDude
I have to agree with Gary.
Originally posted by Jacob S
I have to agree with Gary.
Originally posted by Randall DBS
Yep you know it. I have to agree with Gary.


#16 OFFLINE   normang

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Posted 20 January 2005 - 08:11 PM

Yes, that makes it pretty moot... end of story, end of road..
Norm


#17 OFFLINE   brewerdude

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Posted 21 January 2005 - 09:11 AM

It was fun while it lasted. And at least I got a sweet OTA antenna out of it.

#18 OFFLINE   sonicrob

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Posted 24 January 2005 - 12:15 AM

I give you all the credit in the world i am sorry that i did not mention your name and were i got my post but from now on i will post were i got my info. :D




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