Altice closes Cablevision deal, eyes up future acquisitions

Altice has announced the$17.7 billion capture of Cablevision has been completed, and the subsequent creation of Altice USA.

As reported yesterday, Altice USA will be headed up by Dexter Goei, whose role rotates slightly from being Altice group CEO to Chairman and CEO of Altice USA as well as President of Altice group. Michel Combes will become the group CEO following Goei’s move.

Back in December last year, the $9 billion acquisition of Suddenlink was also completed, with the combined entities forming the fourth largest cable operator in the US with nearly 5 million customers, according to Altice.

Altice says the completion of the Cablevision deal will drive investments into the business, leading to increased broadband speeds, a low-income broadband offering, as well as a comprehensive home gateway offering with set top boxes, routers and modems all being integrated into one piece of kit.

“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,” said Dexter Goei, Altice USA CEO. “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.”

Given Goei’s comments, and its recent spending spree topping $25 billion in the US market, it looks like Altice USA could be eyeing up further growth in the North American market. It wouldn’t be surprising to see further acquisitions targeted, and Reuters reported Goei as saying Altice may look at other business purchases outside of cable – including telecoms, technology and media.

“We will continue to grow through acquisitions, either by buying more cable in other geographies in the country or by looking at other revenue streams,” he said.