March 31, 2005
VOOM to Get $400 Million Investment from Charles Dolan
Maybe VOOM isn't going to die after all, as Charles Dolan has reportedly told the FCC he will invest $400 million more into the HDTV satellite service from his personal wealth. The catch is he wants the FCC to nix the deal that sells VOOM's satellites to the Dish Network. That probably won't happen.Everyone who follows the VOOM story knows that Cablevision chairman Charles Dolan looks at the HDTV satellite service as his own pet project. Now Dolan reportedly is really putting his money where his mouth is. Dolan told FCC officials that he will make a $400,000,000 personal commitment to save the struggling satellite provider and Cablevision has plans to raise even more money to keep the project afloat. The catch is that Dolan wants the FCC to nix the deal that would have sold VOOM’s satellites to Dish Network.
