Voom, Cablevision's defunct premium satellite service, went dark a few weeks ago, but its chief benefactor has agreed to spend approximately $100 million annually (apparently for up to five years) to continue the 21 HD channels left out in the cold, with hopes of finding them a suitable new home, or homes.
According to Newsday on Long Island, N.Y., the Cablevision commitment was disclosed in a recent financial filing. The MSO will offer the mostly niche-format HD channels to other cable and satellite providers. It's all part of a 15-year deal under which EchoStar will offer the channels to its Dish subs, with the DBSer getting a reported 20-percent stake in those HD outlets, according to Newsday.
EchoStar would have the option to drop the HD channels if the deal proves financially infeasible. Also, Voom's only working satellite will be sold to EchoStar for a reported $200 million.
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