FCC approves Altice's Cablevision acquisition2016-05-04 14:10 by Daniela
The U.S. Federal Communications Commission has approved Altice NV's acquisition of Cablevision Systems Corp. for $17.7 billion. The commission has concluded that the merger won't be against the public's interest."We find the transaction is unlikely to have adverse competitive effects," said the FCC.
"We find that the transaction is likely to result in some public interest benefits of increased broadband speeds and more affordable options for low income consumers in Cablevision's service territory."
The FCC is imposing no conditions, and it is a relatively small market size, which factored into the decision to grant it on delegated authority rather than require a commission-level decision.
Altice also successfully acquired regional cable operator Suddenlink for $9.1 billion in December. The company said in a statement that it was "pleased" with the FCC's action and continues to "make good progress towards a transaction closing in the second quarter of this year."
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