Cablevision buyout makes Altice the fourth-largest US cable operator
Cablevision, an iconic US cable TV firm based in 1973, has been bought by France’s Altice for $17.7 billion. The sale has been permitted by shareholders and is predicted to undergo within the first half of 2016. “Almost half a century later, the time is true for brand spanking new possession of Cablevision and its appreciable belongings,” stated CEO James L. Dolan. Not included in these belongings, nevertheless, is Cablevision’s Madison Sq. Backyard firm — the Dolan household will hold the downtown New York area, together with Radio Metropolis Music Corridor and the Rangers and Knicks professional sports activities franchises. It is also holding onto AMC Networks, the house of Mad Males, Breaking Dangerous and The Strolling Lifeless.
Altice was an organization little recognized within the US till it bought regional cable group Suddenlink for $9.1 billion in Might. In Europe, the household-owned firm offers web, pay-TV and cell phone choices. “The acquisition of Cablevision represents Altice’s subsequent step within the US market,” stated CEO Patrick Drahi.” That is an understatement — with the Cablevision acquisition, Altice is now the fourth-largest cable TV supplier within the US.
Tags: acquisition altice cable cablevision france hdpostcross isp knicks madisonsquaregarden