Hoping to cherry-pick the high-end, high-definition television viewer, Cablevision Systems will reportedly launch an HDTV-intensive satellite TV service Oct. 1.
So far, HDTV has been a disappointing business, with compatible televisions in only about 2 million homes. But Cablevision hopes its service, to be called either Rainbow 1 DBS or Voom, will help energize couch potatoes, according to a report in Broadcasting & Cable Magazine.
Cablevision is trying to sign the rights to every high-definition channel, from sporting events on ESPN to movies on HBO. Some popular cable channels, like A&E and Bravo, broadcast high-definition versions, and the NBA offers its games in HDTV. Basic service would cost about $50 a month.
The company, which plans to sell its dishes in Sears and other retailers, wants to sign up 30,000 viewers by the end of the year. Its main competitive target will be DirecTV, which has about 10 million subscribers. News Corp., owner of The Post, is in the process of buying DirecTV.
For investors, the launch can’t come a moment too soon. Cablevision officials have said the service could cost up to $2 billion, and many stockholders hope they spin off the satellite company after its premiere.