Cablevision and the Dolans have finally buried the hatchet and have come-up with a time line to shut down the ill-fated hi-def satellite service, Voom. Newsday reports that the board of directors including Charles Dolan made the decision last night. The father was pitted against his own sign, James who is the chief executive of the company.
To recap, 79-year-old cable maverick had tried hard to block the sale of the satellite operation to EchoStar for $200 million. With only 40,000 the operation lost $661 million, and never really got any traction. The HDTV channels of the company however will stay alive as part of company’s Rainbow Media programming unit, and will be offered to other cable and satellite TV companies. Dolan had offered $400 million to buy the assets of the company.