Altice-Cablevision Headed for June Vote - Broadcasting & Cable

Altice-Cablevision Headed for June Vote

New York PSC staff says adherence to conditions would make deal in public interest
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The other big cable deal this year – Altice N.V.’s $17.7 billion purchase of Cablevision Systems -- appears headed for a June finish, after the New York Public Service Commission issued a statement that said the deal would be in the public interest if its conditions are met.

Altice agreed to purchase Cablevision in an all-cash deal in September. The transaction received Federal Communications Commission approval on May 4.

The New York Public Service Commission, the regulatory body for Cablevision’s largest market, has taken a hard look at the deal over the past several months. The PSC had earlier expressed concern about the $900 million in expected synergies Altice intends to extract over time from Cablevision, fearing it could mean massive layoffs and a precipitous drop in customer service.

Go to Multichannel.com for the full story.

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