Cablevision Delays Satellite Unit Spinoff
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Cablevision Systems Corp. of Bethpage, N.Y., delayed the spinoff of its Voom satellite-television service to beyond 2004.
The postponement, announced in a regulatory filing, is the second delay of the plan. Voom and the cable channels AMC, IFC and WE: Women’s Entertainment are parts of the Rainbow Media Enterprises business, the unit Cablevision is spinning off.
Voom, with 26,000 subscribers, is trying to break into a market dominated by DirecTV Group Inc. and EchoStar Communications Corp., which have 12.1 million and 10.5 million customers, respectively.
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