Cablevision Shutting Down Voom Service

Cablevision Systems Corp., a New York-area cable television provider, is shutting down its high-definition satellite television service called Voom after failing to reach an agreement with its own chairman, who wanted to buy the remaining assets of the business.

The announcement from the Bethpage, N.Y.-based company puts an end to a fractious battle among members of the Dolan family, which runs Cablevision. Charles Dolan, the company’s chairman and founder, had championed the service while his son James, who is chief executive, opposed it.

Cablevision shares fell 69 cents to $30.37 on the New York Stock Exchange.