Cablevision Receives Bulk Of The Cash From VOOM Case Settlement
Cablevision Calls Cops As Union Protesters Disrupt Shareholders Meeting
The cable operator will pocket $525M and AMC Networks will end up with $175M the companies said today in an SEC filing. This was the last big question remaining after Dish Network agreed in October to pay $700M to settle the breach of contract suit that Cablevision and AMC filed. They asked the courts to determine whether Dish had the right in 2008 to terminate its 15-year deal to air the VOOM Networks suite of HD channels. The channels, formerly owned by Cablevision, were packaged with AMC when the cable company spun off the network operation last year. The cash split between Cablevision and AMC does not account for the income that the cable networks company will receive from the fee increase that Dish agreed to pay to continue carrying channels including AMC, IFC, Sundance Channel, and WeTV.