The US Federal Communications Commission (FCC) has approved the USD17.7 billion acquisition of New York-headquartered cableco Cablevision Systems by Netherlands-based Altice Group. A statement issued by the watchdog reads: ‘Based on our analysis, we find that the likely public interest benefits outweigh any potential public interest harms. Accordingly, we conclude that the transaction, on balance, serves the public interest, and we consent to the proposed assignments and transfers of control’. According to the FCC statement, following the completion of the transaction, Cablevision will be 100% directly owned by Neptune Holding US Corp, which is itself controlled by Altice.
TeleGeography notes that the Cablevision takeover represents one of two separate US deals that Altice agreed in 2015; the company secured regulatory approval for its USD9.1 billion takeover of Suddenlink in December last year.