Altice To Acquire Cablevision - Quick Facts

(RTTNews) - Altice N.V. (ATCV.OB) and Cablevision Systems Corp. (CVC) announced they have entered into a definitive agreement for Altice to acquire Cablevision. Altice will deliver $34.90 in cash for each Cablevision share. The transaction is expected to close in the first half of 2016.

The acquisition represents an enterprise value of $17.7 billion. The transaction is to be financed with $14.5 billion of new and existing debt at Cablevision, cash on hand at Cablevision and $3.3 billion of cash from Altice. Altice advised Cablevision that up to $5.8 billion of Cablevision and CSC Holdings debt will remain outstanding after the transaction is completed.

Cablevision is a leading operator in the New York metropolitan area. With a network passing more than 5 million premises Cablevision serves more than 3.1 million residential and business customers.