New Dolan: ‘Cablevision not for sale’ -
Dolan: ‘Cablevision not for sale’
Chris Forrester, on 21-09-2008
Speaking at last week’s Goldman Sachs “Communicopia” media conference, Cablevision CEO James Dolan said he no longer expected to be looking to sell the company’s cable networks. This is a u-turn on market comments barely a month ago, and reflected current market conditions. However, that decision does not apply to Rainbow’s VOOM HDTV division.
Referring specifically to Voom, Dolan said Cablevision, the USA’s fifth largest MSO which is widely available in and around New York and the North East of the USA, continued to mull its options for the future of the HDTV cluster of channels. Voom is busy rolling out services overseas at an impressive rate, but is now only available at home to Cablevision viewers, having lost carriage on Echostar’s DISH Network.
Dolan was asked if his family could try to take Cablevision private again after previous failed attempts. "I would never completely rule it out, but at this time it's not really on our radar," Dolan added, saying that his top priority amid the market turmoil is to manage the company's debt. "Today I think you need to be concerned about your debt first," he told conference delegates. ”The shutdown of the credit markets makes the purchase of assets and the sale of assets less likely,” suggesting that the first set of assets to be sold would be the firm’s movie theatres.