Global cable group Altice is acquiring New York-based Cablevision for $17.7bn including debt. This makes Altice as the fourth largest cable provider in the US. Cablevision's CEO James Dolan will hand over the control to a group of Europeans after the Altice deal. Altice will pay $34.90 a share in cash taking the valuation of Cablevision equity to $9.6bn.
With the reported bid for Time Warner Cable said to be readied by Charter Communications dominating the news, the New York Post reported that Cablevision may soon be approached by private equity players.
Time Warner Cable stated that it would rather go into acquisitions than be bought by billionaire John Malone.