Cablevision Chairman to Fund Voom Service
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Cablevision Systems Corp. Chairman Charles Dolan plans to use $10 million of his own cash and stock to fund the money-losing Voom satellite television service until the end of March.
Dolan, 78, will deposit cash and stock with Bethpage, N.Y.-based Cablevision to keep Voom going, according to a filing with the Securities and Exchange Commission.
Under an agreement Tuesday, Dolan and his son Thomas have until March 31 to acquire Voom from Cablevision.