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Within a year or so, EchoStar and DirecTV may not be the only satellite broadcasters over North America. Cablevision Systems may join them.

The New York–based cable provider plans to launch a satellite sometime soon, "possibly with a partner," according to a recent report in the Wall Street Journal. Cablevision's 75-year-old founder, Charles Dolan, "has long dreamed of expanding into the satellite television business," writer Peter Grant explained. A target date of March 31 has been discussed for a satellite launch.

Protracted merger negotiations between EchoStar and DirecTV may have provided an impetus for Cablevision to go skyward. Cablevision could "provide a service that would be a very robust competitor to the one [EchoStar Chief Executive Charles Ergen] is proposing," Dolan said.

The cable pioneer has long recognized that satellite broadcasting is a much more efficient delivery system for television than cable is. Cablevision "would like to be able to beam programming directly to households by satellite rather than have to go through other cable operators," Grant observed, and is "moving forward with its satellite plans at a time when many investors and analysts would much rather see the company focusing on the formidable challenges facing its existing businesses."

One of the company's most daunting challenges is servicing heavy debt while cable stocks are at low ebb. Cablevision has moved to unload its interest in the Wiz electronics stores and Clearview Cinemas chain as a way to free up cash and reduce debt.