European telecom giant Altice closed on its $9.1 billion purchase of a 70% interest in Suddenlink Communications Monday, making official its entrance into the U.S. cable market.
Altice first announced it would purchase Suddenlink in May. The all-stock purchase received Federal Communications Commission approval Dec. 18.
Former Suddenlink investors BC Partners and CPP Investment Board have retained a 30% interest in the company, now called Altice USA, as planned.
The television industry's top news stories, analysis and blogs of the day.
Thank you for signing up to Broadcasting & Cable. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.