Altice Completes Acquisition of Cablevision Systems Corporation
Altice (Euronext: ATC, ATCB) announced today that it has completed the acquisition of Cablevision Systems Corporation, the leading communications service provider in the New York metropolitan area. Cablevision together with Suddenlink will form Altice USA, the #4 cable operator in the U.S., which serves more than 4.6 million Optimum and Suddenlink customers across 20 states.
This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20160621005951/en/
Dexter Goei, President, Altice N.V., and Chairman and Chief Executive Officer, Altice USA (left) Patrick Drahi, Founder and Controlling Shareholder of Altice (right).
Patrick Drahi, Founder and Controlling Shareholder of Altice: “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 U.S. business and the opportunities we see in this market. We will accelerate network investments and bring innovative products and services to U.S. 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.”
Dexter Goei, President of Altice N.V.; Chairman and Chief Executive Officer of Altice USA: “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.”
Altice entered into a definitive agreement to acquire Cablevision on September 16, 2015. Cablevision shareholders previously approved the transaction by written consent. The completion of this transaction follows the receipt of applicable federal, state and local regulatory approvals. In December 2015, Altice completed its acquisition of Suddenlink.
The acquisition of Cablevision by Altice represents an enterprise value of $17.7 billion. BC Partners and CPP Investment Board hold a 30 percent stake, as previously announced. Under the terms of the acquisition, Cablevision shareholders receive $34.90 in cash for each Cablevision Class A and Class B common stock. June 20, 2016, was the last full trading day of Cablevision Systems Corporation (NYSE: CVC) common shares on the New York Stock Exchange.
Executive Leadership Team 1
Altice USA has named its executive leadership team:
- Dexter Goei – President of Altice N.V.; Chairman and Chief Executive Officer of Altice USA
Charles Stewart – Co-President and Chief Financial Officer of Altice
- Lisa Rosenblum – General Counsel
- Michael Schreiber – Chief Content Officer
- Lee Schroeder – Head of Government Affairs
- Victoria Mink – Chief Accounting Officer
- Patrick Dolan – President, News 12 Networks
- Ed Renicker – President, Media Sales
Hakim Boubazine – Co-President and Chief Operating Officer of Altice
- Pragash Pillai – Head of Optimum Operations
- David Gilles – Head of Suddenlink Operations
- Kevin Stephens – President, Business Services
- Terry Cordova – Chief Technology Officer
- Gregg Graff – Head of Residential Sales
- Matthew Lake – Chief Marketing Officer
- Keith Sherwell – Chief Information Officer
- Colleen Schmidt – Head of Human Resources and Talent Development
Business Investments and Customer Benefits
Altice USA is committed to serving U.S. customers with superior and innovative products, service, and compelling integrated news and content. The completion of the Cablevision transaction will drive investments into the business while providing full access to the operational expertise, technology, and resources of Altice’s international operations. Among other initiatives, Altice USA will:
- Significantly increase broadband speeds through extensive investments in network upgrades and improvements;
- Introduce a low-income broadband offering;
- Introduce a state-of-the art and fully evolutive, all-in-one home center that integrates the functionality of set top boxes, routers and Wifi modems in one device and provides a more user-friendly experience;
- Introduce a next-generation customer interface offering a modern, informative and seamless navigation, integrating video on demand, online content, and advanced navigation and recommendation tools to maximize the consumer’s experience;
- Invest more into and support the WiFi network, which will further extend the reach of broadband offerings;
- Upgrade existing and invest into new IT systems to optimize processes and better serve customers; and
- Inspire the next generation of technology leaders through programs that encourage the pursuit of STEM-related career paths.
About Altice Group
Founded by telecom entrepreneur, Patrick Drahi, Altice is a multinational cable, fiber, telecommunications, contents and media company with presence in four regions -- Western Europe (comprising France, Belgium, Luxembourg, Portugal and Switzerland), the United States, Israel, and the Overseas Territories (currently comprising the French Caribbean, the Indian Ocean regions and the Dominican Republic). Altice provides very high speed based services (high quality pay television, fast broadband Internet and fixed line telephony) and, in certain countries, mobile telephony services to residential and corporate customers. Altice is also active in the media space with a portfolio of channels (News, Sports, Lifestyle...) as well as providing Premium content on nonlinear platforms; it also produces its own original content (Series, Movies…).
Altice (ATC & ATCB) is listed on NYSE Euronext Amsterdam.
For more information, visit www.altice.net
About Altice USA
Altice USA, a subsidiary of Altice Group (Euronext: ATC, ATCB), is the fourth largest cable operator in the United States, delivering residential and business services to 4.6 million customers across 20 states. Providing high-quality products that keep customers connected, Altice USA (through its Optimum, Lightpath and Suddenlink brands) offers digital cable television, high-speed Internet, voice, WiFi and advertising services. To meet our customers’ content and information needs, the company through News 12 also offers hyper-local news and programming created specifically for the communities we serve. For more information, visit www.alticeusa.com
1 Full leadership team with bios and photos available on www.alticeusa.com
Head of Communications
Arthur Dreyfuss, +41 79 946 49 31
Head of Investor Relations
Nick Brown, +41 79 720 15 03
Head of Communications
Lisa Anselmo, 1-516-279-9461
Om Business Wire
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
DoubleTree by Hilton Closes Out Milestone Year with 30+ New Hotels, 510 Hotels Worldwide14.12.2017 13:01 | Pressemelding
2017 was a monumental year for DoubleTree by Hilton, one of Hilton’s (NYSE: HLT) 14 market-leading brands, surpassing 500 hotels worldwide and introducing 30+ new hotels to guests around the world. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171214005385/en/ DoubleTree by Hilton Dubai - Business Bay (Photo: DoubleTree by Hilton) To close out the year, the brand recently welcomed an additional three hotels to its portfolio. With convenient locations, inspired design and thoughtful upscale amenities, these hotels are now delivering unparalleled hospitality to guests and visitors, all starting with the brand’s signature, warm DoubleTree Cookie welcome. DoubleTree by Hilton Neenah : This contemporary hotel, which recently completed a multimillion
Dole Pineapple Workers Open Community Center Thanks to Fair Trade14.12.2017 13:00 | Pressemelding
Dole Food Company and Fair Trade USA jointly announced today the inauguration of two new community centers near Dole’s Muelle and Bosque Farms in Costa Rica, made possible by Fair Trade purchases made at Whole Foods Market stores, which drive additional money to pineapple farmworkers to invest in projects of their choosing. The commencement events at the two locations took place on December 5th and 6th, 2017. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171214005458/en/ (Photo: Business Wire) To earn Fair Trade certification, farms must adhere to rigorous social, environmental and economic standards. Once certified, farmworkers directly earn additional Community Development Funds with every purchase. They then vote on how to use the money to address their needs. This direct economic be
Reply: Go Reply Becomes a Google Cloud Managed Service Provider14.12.2017 13:00 | Pressemelding
Go Reply, the Reply Group company specialising in innovative Cloud services based on Google Cloud technology, has become a Google Cloud Managed Service Provider (MSP), joining a group of highly specialized Google Cloud partners. Go Reply supports customers through the whole cloud journey, able to respond to business needs during the different phases of the process, from engagement, to migration and execution, to post planning with optimization after deployment. As a Google Cloud MSP, Go Reply provides a high-touch service to customers who are looking for a complete and proactive support. Go Reply is able to bundle exclusive services for enterprise customers, covering not only the Cloud migration, but also all the aspects of the process, including future developments. Go Reply has access to Google training programs, Google Professional Services, and Google S
21st Century Fox to Spin off Businesses and Create New “Fox”; a Growth Company Centered on Live News and Sports Brands and the Iconic Fox Brand14.12.2017 12:12 | Pressemelding
Twenty-First Century Fox, Inc. (“21st Century Fox” or the “Company” – NASDAQ: FOXA, FOX) today announced that it intends to spin off to 21st Century Fox shareholders a portfolio of its highly-rated news, sports and broadcast businesses to create a new “Fox,” which will be a growth company centered on live news and sports brands, anchored by the strength of the Fox Network. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171214005660/en/ Left to right: Robert A. Iger, Chairman and CEO of The Walt Disney Company, and Rupert Murdoch, Executive Chairman, 21st Century Fox (Photo: Business Wire) The new “Fox” will include iconic branded properties Fox News Channel, Fox Business Network, Fox Broadcasting Company, Fox Sports, Fox Television Stations Group, and sports cable networks FS1, FS2, Fox Deportes and B
First Eagle Investment Management to Absorb Costs of External Research14.12.2017 11:00 | Pressemelding
First Eagle Investment Management announced today that effective January 3, 2018, it will absorb the costs of all external research purchased by First Eagle investment teams. Industry practices regarding payments for external research are evolving due to the Markets in Financial Instruments Directive II (MiFID II), an EU directive requiring the unbundling of external research costs from trade execution costs. As a result, asset managers worldwide have been considering whether to pass the costs of external research to their clients or to pay them from their own resources. “While our firm is not subject to MiFID II, we believe that this part of the directive points the way forward for our industry,” said Mehdi Mahmud, President and Chief Executive Officer of First Eagle Investment Management. “To be equitable and consistent across our entire client base, we have decided to use
Cognitec Brings Unique Video Investigation Features to Face Recognition Product for Law Enforcement14.12.2017 09:38 | Pressemelding
Cognitec Systems, the face recognition company, has significantly extended the feature set of its FaceVACS-DBScan product. The latest release combines the company’s renowned image database search technology with powerful video inspection tools for a multitude of investigation use cases. FaceVACS-DBScan LE enables fast import of video footage and detailed investigations of the extracted facial images. Agents can find known or unknown persons in multiple videos to quickly narrow down suspect investigations. The investigation can reveal, for example, if a suspect was seen in various locations within a set time window, always with the same group of persons, or in one location too many times during the day. With one click, the investigator can add the facial image seen in a video frame to a local database. If a person is already known, the technology can quickly compare
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom