You will be redirected back to your article in seconds

Altice USA, Owner of Cablevision and Suddenlink, Files for IPO

Altice USA, formed from the acquisition of cable operators Cablevision Systems and Suddenlink Communications, has filed for an initial public offering.

In the SEC filing Tuesday, Altice USA indicated that it plans to raise up to $100 million — however, it said that figure was “estimated solely for the purpose of calculating the amount of the registration fee.” Altice USA said it has not determined the number of shares to be offered or the price range for the IPO.

The company is the U.S. subsidiary of French telecom conglomerate Altice N.V. Altice USA comprises the assets of New York-area cable operator Cablevision, which Altice bought in a deal worth $17.7 billion; and Suddenlink, acquired for $9.1 billion in 2015. The combination made it the fourth-largest U.S. cable operator behind Comcast, Charter Communications and Cox Communications.

Altice USA said that net proceeds from the offering will be used for “general corporate purposes.” That could include potential future mergers and acquisitions of other cable operators in the U.S., with Cox among the possible targets.

Altice USA reported $9.15 billion in pro-forma revenue for 2016, up 2% from the year prior, with a net loss of $656 million (versus a net loss of $1.1 billion for 2015).

The Bethpage, N.Y.-based company provides residential and business services to more than 4.6 million customers across 20 states. The group is headed by Dexter Goei, chairman and CEO of Altice USA and president of the board for Altice N.V. He worked as an investment banker at JP Morgan and Morgan Stanley before joining Altice in 2009.

As of Dec. 31, 2016, the company had approximately 16,000 employees, of which 227 were represented by a labor union. On March 10, 2017, an additional 100 employees became represented by a union.

For the proposed offering, J.P. Morgan, Morgan Stanley, Citigroup and Goldman, Sachs & Co. are serving as joint book-running managers.

More Biz

  • Pandora Shares Surge as Fourth-Quarter Subscription

    Pandora Shares Surge as Fourth-Quarter Subscription Revenue Climbs 63%

    Altice USA, formed from the acquisition of cable operators Cablevision Systems and Suddenlink Communications, has filed for an initial public offering. In the SEC filing Tuesday, Altice USA indicated that it plans to raise up to $100 million — however, it said that figure was “estimated solely for the purpose of calculating the amount of […]

  • Eric Schneiderman

    Weinstein Co. Deal Moving Ahead After 3-Hour Meeting With Attorney General

    Altice USA, formed from the acquisition of cable operators Cablevision Systems and Suddenlink Communications, has filed for an initial public offering. In the SEC filing Tuesday, Altice USA indicated that it plans to raise up to $100 million — however, it said that figure was “estimated solely for the purpose of calculating the amount of […]

  • Farrah Abraham 'Single AF' TV show

    Farrah Abraham Claims MTV 'Sex-Shamed' Her for Doing Porn

    Altice USA, formed from the acquisition of cable operators Cablevision Systems and Suddenlink Communications, has filed for an initial public offering. In the SEC filing Tuesday, Altice USA indicated that it plans to raise up to $100 million — however, it said that figure was “estimated solely for the purpose of calculating the amount of […]

  • Ryan Reynolds Detective Pikachu

    Ryan Reynolds Buys Gin Company

    Altice USA, formed from the acquisition of cable operators Cablevision Systems and Suddenlink Communications, has filed for an initial public offering. In the SEC filing Tuesday, Altice USA indicated that it plans to raise up to $100 million — however, it said that figure was “estimated solely for the purpose of calculating the amount of […]

  • Moksha Fitzgibbons

    Todd Boehly's Valence Media Shakes Up Sales Teams for Billboard, THR, Other Divisions

    Altice USA, formed from the acquisition of cable operators Cablevision Systems and Suddenlink Communications, has filed for an initial public offering. In the SEC filing Tuesday, Altice USA indicated that it plans to raise up to $100 million — however, it said that figure was “estimated solely for the purpose of calculating the amount of […]

More From Our Brands

Access exclusive content