Altice Cablevision takeover clears final regulatory hurdle, with conditions

17 Jun 2016

The USD17.7 billion acquisition of east coast US cable network operator Cablevision by Netherlands-based Altice Group has cleared its final regulatory obstacle, receiving the approval of the New York State Public Service Commission. Altice says it expects to close the acquisition by the end of June. As reported by Reuters, the New York regulator added conditions to the deal, including the requirement for Altice to pass on 25% of the estimated USD450 million in expected cost savings from the deal to Cablevision subscribers over the next five years, plus a ban on staff cuts in customer-facing roles in New York for four years.

Altice’s takeover of Cablevision gained Federal Communications Commission (FCC) approval last month, and follows the group’s USD9.1 billion purchase of Suddenlink which it completed in December 2015.

United States, Altice Europe, Cablevision Systems (Optimum), Next Alt