Netherlands-based Altice to buy Cablevision for $17.7B for U.S. expansion

By Amy R. Connolly   |   Sept. 17, 2015 at 10:47 AM

NEW YORK, Sept. 17 (UPI) — European telecom company Altice Group has agreed to buy New York-based Cablevision in a deal valued at $17.7 billion including debt.

Altice, controlled by French cable entrepreneur Patrick Drahi, will pay about $10 billion in cash, or $34.90 a share, for the Bethpage, N.Y.-based Cablevision, the leading cable operator in New York, New Jersey and Connecticut. The deal creates the fourth largest cable operator in the United States.

The acquisition also includes Newsday Media Group, publisher of Newsday and amNewYork.

https://www.upi.com/Business_News/2015/09/17/Netherlands-based-Altice-to-buy-Cablevision-for-177B-for-US-expansion/4341442495888/

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