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

  • Transformers Bumblebee Superhero Girl

    Hasbro and DC Comics Settle 'Bumblebee' Trademark Dispute

    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 […]

  • Terry Crews

    Terry Crews' Ex-Social Media Manager Claims Actor Defamed Him, Owes Him $1 Million

    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 […]

  • David Nevins, President & CEO of

    Listen: Showtime's David Nevins on How Streaming Has Changed the Game

    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 […]

  • Ajit Pai FCC

    Why a Few Derailments Won't Stop the Media Merger Train

    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 […]

  • Amazon Music Names Andre Stapleton Head

    Amazon Music Names Andre Stapleton Head of U.S. Label Relations

    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 […]

  • Aerosmith Announces ‘Deuces Are Wild’ Las

    Aerosmith Announces ‘Deuces Are Wild’ Las Vegas Residency

    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 […]

  • Monster Hunter: World

    Tencent Logs $6 Billion Half Year Profit but Games Slowdown Hits Revenues

    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