A New York state regulatory panel has recommended that the state's Public Services Commission approve Altice NV's $17.7 billion takeover of Cablevision.
As Altice and Charter Communications complete their mega-billion dollar acquisitions of Cablevision and Time Warner Cable, employees of these cable MSOs are bracing for potential layoffs as these companies look to trim off redundant positions.
With the latest wave of cable consolidation nearing its crest, Time Warner Cable and Cablevision employees are preparing for potential layoffs.
New York state regulators have postponed today's scheduled vote on Altice's proposed $17.7 billion purchase of Cablevision to June 16.
Following six years of litigation in which class-actioners successfully sued Cablevision over their anti-trust claim that the MSO restricts them from using cheaper third-party set-top boxes, the payouts have finally begun.
In terms of video subscriber growth, it was a tale of two cable MSO segments during the first quarter. While the largest cable providers such as Comcast, Time Warner Cable and Charter Communications collectively added 89,000 new subscribers, a number of mid-sized operators lost customers.
Cablevision's fleet of four Sikorsky helicopters will be the first to go when Altice NV likely closes its $17.7 billion purchase of the MSO later this month.
Comcast, Time Warner Cable and Charter Communications collectively added 89,000 video subscribers in the first quarter, but the return to pay-TV growth appears to be confined to the top.
New York City officials are all set to vote on May 11 to approve Altice NV's $17.7 billion purchase of Cablevision Systems, provide the European telecom conglomerate agrees to conditions mandated by New York state officials, according to the New York Post.
Altice NV is in regulatory striking distance of closing its $17.7 billion purchase of Cablevision Systems Corp., gaining approval from the FCC, and near a sign-off from New York City officials.