The FCC has given the green light to French company Altice's plan to pay $9.1 billion to acquire Suddenlink. In a notice (pdf) posted to the FCC website, the agency stated that after careful review, the agency finds that the merger would be in the public interest.
“Based on our careful review of the record, we find the transaction is unlikely to result in any significant public interest harms,” the FCC said in the order. “We find that the transaction is likely to result in some public interest benefits of increased investment in local networks facilities and broadband services in Suddenlink’s service territory.”
Altice originally announced the Suddenlink acquisition back in May.
“We find nothing in the record leading us to conclude that Altice will deviate from what Applicants describe as a ‘demonstrated track record’ of investing in the service providers Altice acquires, while improving its offerings and competitive position in the market, to the benefit of consumers,” the Commission said of the deal.
Altice is also waiting on the government's approval for its planned $17.7 billion acquisition of Cablevision, announced last September. Cablevision, once on the bleeding edge of broadband speeds, had spent the last few years stuck in neutral as the company's owners (the Dolan family) focused on finding a company interested in paying top dollar for the NY area cable operator.
Users interested in seeing what Altice has in store in 2016 should keep an eye peeled on our
Cablevision (Optimum) and
Suddenlink forums.