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March 11, 2005

Daddy Cablebucks

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Posted by Dominic Basulto

The New York Post reports that Chuck Dolan of Cablevision is busy scraping together $10 million to keep his cherished Voom satellite TV unit alive. Voom is a money-loser ($640 million in losses and counting), but the senior Dolan is determined to make it work -- even if it means re-jiggering the board of directors, feuding with his son in public, selling shares of the company to raise cash and borrowing against his Class B "super-voting" shares. One scenario has Dolan and cable titan John Malone (recently installed on the Cablevision board) pooling their money & resources to buy the Voom unit outright.

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