Cablevision Gets $525M From Voom SettlementAMC nets $175M 4/09/2013 08:55:10 AM 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.