Altice acquires Cablevision22 June 2016
Altice has completed the acquisition of Cablevision Systems Corporation.
The deal, which is believed to have cost Altice around $17.7 billion, will see Altice combine Suddenlink – acquired in December last year – with its new purchase to build Altice USA.
The telco giant claims that the latest acquisition will take Altice USA to the fourth largest operator in the company.
Dexter Goei, chairman and chief executive officer of Altice USA, said, “Altice USA is well positioned to grow as a leading communications and media group with its best infrastructure, most innovative and reliable services, and a committed customer- centric approach.
“Our immediate focus is on integrating our businesses within Altice, fostering their development through innovation and investment, and delivering on our plans to enhance the customer experience.
“Our very talented employees have great energy and enthusiasm, and we are confident that altogether we will help to build Altice USA to the benefit of our customers and the local communities that we serve.”
Cablevision and Suddenlink form a base of 4.6 million subscribers for broadband and video services, and brings Altice USA to a total of 20 states throughout the US as it looks to accelerate network investments.
Patrick Drahi, founder and controlling shareholder of Altice, added, “The completion of the Cablevision acquisition marks a critical step in the development of the Altice Group.
“Altice USA is a key pillar of our business and a powerful and dynamic growth platform. We are very excited about our US business and the opportunities we see in this market.”