Cablevision Sold to French Company Altice for $17.7 Billion

[Poke]

Another one got sold.

http://www.dslreports.com/shownews/Cablevision-Sold-to-French-Company-Altice-for-177-Billion-135127

 

[whitewolf8214]

More on the sale........Altice expands in U.S. with $17.7 billion Cablevision deal.....http://news.yahoo.com/cablevision-agrees-sale-altice-sa-nyt-001738864--finance.html

Altice NV , one of the most acquisitive European telecoms groups, made a major move into the U.S. market on Thursday with a deal to buy fourth-largest operator Cablevision Systems Corp for $17.7 billion including debt.Altice founder Patrick Drahi, who built a telecoms and cable empire via debt-fueled acquisitions in France, Portugal and Israel, is expected to apply his cost-cutting zeal to achieve a target of $900 million in annual synergies at Cablevision.Drahi told a Goldman Sachs conference in New York that more than 300 Cablevision employees earn pay checks of over $300,000."This we will change," said the French-Israeli billionaire.Drahi entered the United States in May by buying a small, St Louis-based cable group called Suddenlink [CQUELS.UL] for $9.1 billion. He declared at the time that Altice would look for more acquisitions and eventually earn half its revenue from the United States.

I hope they stop this and we need to stop these foreign companies from buying teh companies here!! imo

 

[dishcomm]

Changes are scaring Cablevision employees.
Workers leaving 3 or 4 at a time.
http://www.fiercecable.com/story/al...wRk1yNG8rd3dwNDRGOVM3MG1aRmJDR0Nyd2w4Sk09In0=
Looks like Cablevision as the employees know it, is gone