Malone Quits Cablevision Board

10 June 2005

US cable TV magnate John Malone has resigned as a director of Cablevision Systems, run by his media mogul pal Charles Dolan.

Malone, chairman of global colossus Liberty Media International, wants to avoid a conflict of business interests as both companies own TV programming assets.

He was invited to join the Cablevision board in March [WAMN: 16-Mar-05] when Dolan was feuding with his ceo son James over the group's cash-hemorrhaging Voom satellite TV service. Dolan senior wanted to save it, while junior was keen to cut losses and close it down.

Malone was unable to help secure Voom's future and it is scheduled to have its plug pulled at a cost of up to $130 million (€105m; £70m).

Data sourced from Financial Times online; additional content by WARC staff