Cablevision Gets $525M From Voom SettlementAMC Nets $175M 4/08/2013 5:38 PM Eastern
AMC Networks received about $175 million from the settlement of its Voom litigation with Dish Network last year, with former parent Cablevision receiving the lion’s share, or about $525 million, according to documents filed Monday with the Securities and Exchange Commission.
Voom HD had sued Dish for more than $2 billion after the satellite giant canceled a long term contract to carry the suite of HD channels in 2009. After what at times was a bizarre court case last year, Dish decided to cut its losses and settled the case in October, agreeing to pay Voom $700 million in cash. Dish also reached a long-term carriage agreement with AMC, restoring its IFC, AMC, We TV and Sundance Channel to Dish’s 14 million customers. AMC had argued that Dish dropped the networks out of retaliation for the Voom suit, a claim Dish had denied.