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Altice completes Cablevision acquisition

Altice thumbAltice has completed the acquisition of US cable operator Cablevision. Altice will now move ahead with its plan to merge the New York-based service provider with its existing US subsidiary Suddenlink Communications to create Altice USA, the number four cable operator in the country, with over 4.6 million customers across 20 states.

Altice agreed to acquire Cablevision in September last year in a deal that valued the US operator at US$17.7 billion and completed its previously agreed acquisition of Suddenlink in December. Completion of the Cablevision deal followed regulatory approvals at Federal, state and local level.

Completion of the deal followed hard on Altice’s reorganisation of its management team, with Dexter Goei taking over as head of the US operation as well as chairman of Altice overall, and COO Michel Combes stepping up to take over Goei’s former CEO role.

“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. We will accelerate network investments and bring innovative products and services to US customers by leveraging our global operational expertise, scale and resources. I wish to also thank the Dolan family for entrusting us with their life’s work at Cablevision, where they have developed under their pioneering stewardship one of America’s pre-eminent cable operations with best-in-class management talent,” said Patrick Drahi, founder and controlling shareholder of Altice, who stepped down as chairman to take a wider strategic role.

“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,” said Goei.