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Altice USA serves 4.6 million customers across 20 states, cable group says, as it completes $17.7 billion deal.
Altice has completed its US$17.7 billion acquisition of U.S. cable operator Cablevision.
The business will be integrated into Altice USA, which, with the addition of the new assets, becomes the fourth largest cable player in the country, Altice claimed on Tuesday.
The French cable operator sees the U.S. market as a major growth driver for the group and earlier this week, in preparation for the closure of its latest acquisition, announced a management shuffle that sees former group CEO Dexter Goei shift focus to take on the role of 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," Goei said.
"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," he added.
Indeed, Altice has shared a number of plans for the U.S. market. It has committed to investing in network upgrades to boost broadband speeds, improve its WiFi network, and deploy new IT systems. It also plans to introduce a broadband tariff for low-income households, launch an integrated home hub-type product, and roll out a next-generation customer interface to improve navigation and integrate video-on-demand and online content.
Altice USA will be made up primarily of Cablevision, which offers TV and broadband services under the Optimum brand in the New York tri-state area, and Suddenlink, for which it paid $9.1 billion last year; Suddenlink also provides cable TV and broadband services in nine western, midwestern and southern states.
Together, the businesses serve 4.6 million customers across 20 states, Altice said.
