Altice USA
Altice USA, Inc., commonly known as Altice, is an American cable television provider with headquarters in New York City, owned by the Franco-Israeli businessman Patrick Drahi. It delivers pay television, Internet access, telephone services, and original television content to approximately 4.9 million residential and business customers in 21 states.[1]
For this company's predecessor, see Cablevision. For its sister company in Europe, see, see Altice (company).Company type
June 21, 2016
- Patrick Drahi (Controlling Shareholder)
- Dennis Mathew (Chairman & CEO)
- Marc Sirota (CFO)
Cable
(Internet)
(VoIP Phone)
(Business)
- Optimum
- Altice Business
- News 12 Networks
- News 12 Varsity
- Service Electric
Altice (2016-2018)
As a multiple-systems operator, the company operates the Optimum brand.[2] The company also provides international news through the February 2017 U.S. launch of i24NEWS[3] and local news through News 12 Networks. It formerly operated the Suddenlink brand.
With its combined brands, Altice USA is the fourth-largest cable provider in the U.S.,[2] having customers residing in the New York City tri-state area, as well as several midwestern and southern states.[4]
In November 2016, Altice USA announced a five-year plan for fiber-to-the-home to build a network capable of delivering 10 Gbit/s broadband speed.[5] In August 2017, the company stated it was on track to reach one million homes by the end of 2018.[6]
In June 2017, Altice USA raised US$2.2 billion in an initial public stock offering.[7]
Altice USA is based at One Court Square in Long Island City, Queens with its operational center located at Cablevision's former headquarters in Bethpage, New York.
In April 2022, Altice USA announced it would be rebranding Suddenlink under the Optimum name.[8]
History[edit]
On May 20, 2015, Netherlands-based French company Altice NV announced that it would enter the U.S. cable market by purchasing Suddenlink Communications, the country's 7th-largest cable provider, for $9.1 billion.[17] The acquisition closed on December 21, 2015.[18]
On September 17, 2015, Altice NV announced its intention to acquire Cablevision from the Dolan family and other public shareholders for $17.7 billion. The deal was approved by the FCC on May 3, 2016[19] and after approval from various regional regulators such as New Jersey's Board of Public Utilities and the New York Public Service Commission, closed on June 21, 2016.[20] Under the terms of the deal, Altice paid $34.90 in cash for each share in Cablevision and a 22% premium to the company's stock price; Altice also assumed Cablevision's debt.[21] Prior to this, Altice had already acquired St. Louis-based Suddenlink Communications, and both companies became subsidiaries of Altice USA.
In May 2017, Altice USA announced its intention to rebrand its Suddenlink and Cablevision properties under the Altice name by the end of the second quarter of 2018.[22]
In June 2017, Altice USA went public, raising $2.2 billion in its initial public offering.[7]
On January 8, 2018, Altice NV announced that it will spin-off Altice USA into a separate company. Patrick Drahi will maintain control of both companies, although they will be led by separate management teams.[23]
On April 30, 2019, it was announced Altice USA was buying Cheddar for $200 million in cash.[24]
On February 14, 2020, Altice USA announced that it has bought Service Electric Broadband Cable in New Jersey.[25][26] The deal closed in July.[27]
On March 1, 2021, Altice USA announced that it would acquire Morris Broadband in North Carolina for $310 million which was later closed on April 6, 2021. Altice later announced that Morris Broadband would be rebranded into the Optimum name.[28][29]