Altice Closes on Cablevision, Forms Altice USA

June 21, 2016
Altice (Euronext:ATC) has completed its acquisition of Cablevision. Cablevision - together with Suddenlink, which Altice bought late last year ...

Altice (Euronext:ATC) has completed its acquisition of Cablevision. Cablevision - together with Suddenlink, which Altice bought late last year - will form Altice USA, the fourth largest cable operator in the United States, serving more than 4.6 million Optimum and Suddenlink customers across 20 states.

Altice entered into a definitive agreement to acquire Cablevision last September. The acquisition represents an enterprise value of $17.7 billion. June 20 was the last full trading day of Cablevision (NYSE:CVC) common shares on the New York Stock Exchange.

Dexter Goei, president of Altice NV and chairman and CEO 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."

Other members of the Altice USA technical leadership include:

  • Pragash Pillai - Head of Optimum Operations
  • David Gilles - Head of Suddenlink Operations
  • Kevin Stephens - President, Business Services
  • Terry Cordova - Chief Technology Officer

Altice USA has a number of upgrade initiatives in store. The company plans to:

  • Increase broadband speeds through network upgrades and improvements
  • Introduce a low-income broadband offering
  • Introduce an all-in-one home center that integrates the functionality of set-top boxes, routers and WiFi modems in one device
  • Introduce a customer interface offering navigation, integrating VOD, online content, and recommendation tools
  • Invest more into and support the WiFi network
  • Upgrade existing and invest into new IT systems
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