Shearman & Sterling is advising Altice N.V. on its $17.7 billion acquisition of Cablevision Systems Corporation—a combination that will create the fourth largest cable operator in the US market. The announced transaction is expected to close in the first half of 2016 once applicable regulatory approvals have been obtained.
Cablevision is the leading operator in the New York metropolitan area (New York, New Jersey, Connecticut). With a network passing more than 5 million premises Cablevision serves more than 3.1 million residential and business customers.
Founded by telecom entrepreneur Patrick Drahi, Altice is a multinational cable, fiber, telecommunications, contents and media company.