Voom sold to Echostar

[Queasy]

Link - Looks like Echostar is going to try to figure out how to roll it into DISH Network.

NEW YORK - Moving to unload an unprofitable venture, Cablevision Systems Corp. on Thursday sold its satellite broadcasting business to rival EchoStar Communications Corp. for $200 million cash.

The Long Island-based cable TV provider started the high-definition satellite venture, which is marketed under the brand name VOOM, in the fall of 2003. But the operation has struggled to turn a profit and has dragged on Cablevision's finances and share price, as investors worried about how long the company would fund VOOM.

 

[MrBond]

Pretty good move on Dish Network's part - now they can offer more HD content to their already existing customer base.

Of course, the problem here is integrating it into the dish network systems. Hopefully they can get it to work with their HD ready dish so people don't have to buy another dish or upgrade theirs.

 

[DingDingDao]

Wow...good thing I didn't spring for Voom just yet. I'll be interested to see what Dish does with this.

 

[conjur]

Hmm...wonder how much monthly rates for both will go up now.

 

[Queasy]

Voom showed off some interesting hardware at CES that allows recorded video to be shared throughout a house. DirecTV promised something similar. It'll be interesting to see if DISH tries to integrate VOOM's hardware.

 

[isasir]

I see the Dolan son won out. (Papa Dolan wanted to keep Voom as part of Cablevision)

 

[rudder]

Originally posted by: conjur
Hmm...wonder how much monthly rates for both will go up now.

$3, just got the letter from Dish.

 

[conjur]

Is that the same increase as was previously announced by DISH or a new one?

 

[rudder]

This may have been a previous announcement that I had missed.