US Satellite TV Service Voom is Axed

12 April 2005

The plug has finally been pulled on America's bitterly fought-over TV satellite service Voom.

The board of family-run operator Cablevison voted last week to finally shut down the service from the end of April, hopefully ending the turmoil of the feud between chairman Charles Dolan and his ceo son, James.

Dolan senior has been trying to raise enough cash to buy out the service and keep it on-air. Dolan junior, together with the majority of the board, wanted to stem the estimated $1.4 billion (€1.08bn, £743m) hemorrhaged by Voom since its launch two years ago.

Voom's satellite, Rainbow, is being sold to rival EchoStar in a deal worth around $200m [WAMN: 01-Apr-05]. Cablevision is continuing to look into the possibility of selling Voom's TV channels.

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