By Lydia Beyoud and Tim McElgunn
May 3 — The Federal Communications Commission has approved Altice NV’s proposed acquisition of Cablevision Systems Corp., finding it to be in the public interest, according to documents the agency released late May 3.
With the commission’s approval, the only regulatory hurdles left for Altice are in New York, where New York City and state officials are planning votes on the transaction this month.
Under the Cablevision deal, Altice would add 3.1 million customers in New York, New Jersey and Connecticut, to go along with the 1.6 million subscribers in 17 southern and western states it acquired when it gained a majority stake in Suddenlink Communications in late 2015. After acquiring Cablevision, Altice would have 8.1 million cable-, DSL-, and fiber-connected subscribers worldwide. The company currently has a total of 34.5 million wireline and wireless customers, according to the FCC.
The deal was approved by multiple FCC bureaus. Discussing concerns about the debt level taken on to finance the transaction, the commission said: “In determining whether the Cablevision subsidiaries, which will be wholly owned and controlled by Altice, are financially qualified to hold licenses, we do not substitute our business judgment for that of the applicant or the marketplace.”
The FCC also addressed concerns that network investment and service quality will suffer as a result of the transaction, saying, “Altice has committed to the NY PSC [New York Public Service Commission] that, as part of the transaction, it will invest fully across the Cablevision footprint, and specifically, will provide the network investment to support 300 Mbps [megabits per second] service to all customers.”
To contact the reporter on this story: Lydia Beyoud in Washington at firstname.lastname@example.org; Tim McElgunn in Cherry Hill, NJ at email@example.com
To contact the editor responsible for this story: Keith Perine at firstname.lastname@example.org
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to email@example.com.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to firstname.lastname@example.org.
Put me on standing order
Notify me when new releases are available (no standing order will be created)