New York-based Cablevision Systems Corporation has announced an agreement to sell the high-definition television service Voom and certain other related assets to EchoStar Communications for $200m in cash despite it having only 26,000 subscribers. Echostar is the second-largest satellite television operator in the US, competing with cable companies and satellite rival DirecTV. EchoStar will acquire the Rainbow 1 satellite, as well as FCC licenses to build and operate DBS services at that orbital location. The VOOM high-definition satellite service that operates off Rainbow 1 will continue to service its customers for a "transitional period."

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