Hints and tips:
...uncertainty Pandemic permitting, Monday will be the kick-off of the US national college football championship, between the perennial favourite Alabama Crimson Tide and the Big Ten conference winner Ohio State Buckeyes...
...beyond France into Portugal, Israel and the Dominican Republic, Altice has most recently been increasing its footprint in the US, notably with the acquisitions of cable operators Suddenlink in 2015 and Cablevision...
...the contrary, it has delivered much of the cost savings and operational improvements it had pledged, particularly at its listed unit in the US that represents the $30bn of acquisitions of Suddenlink and Cablevision...
...cable subsidiary in New York to position itself for more dealmaking in America, but has managed to win support from shareholders thanks to the speed with which it has delivered operational improvement at Cablevision...
...In June last year, Cablevision closed its mobile network Freewheel, which operated exclusively over WiFi hotspots, after it failed to lure enough customers....
...France’s Altice, which owns the fourth-biggest cable player in the US, Cablevision, has said it will look for deals....
...Other notable deals include Altice’s takeover of Suddenlink Communications and Cablevision Systems and AT&T’s purchase of satellite provider DirecTV....
...The Dolan family, through Cablevision, had bought Newsday from Tribune for $650m in 2008....
...Altice, the French telecom upstart, has made an expensive splash in the US by buying up marginal providers Suddenlink and Cablevision for $27bn in recent years....
...Other notable deals include Altice’s takeover of Suddenlink Communications for $9.1bn and Cablevision Systems for $17.7bn, and AT&T’s purchase of satellite provider DirecTV....
...Cablevision’s 3.1m customers are concentrated in the greater New York market....
...Those are deep cuts — half of Cablevision’s existing earnings — but it will need them to help meet its interest bills....
...By FT reporters The future of Trump Inc Donald Trump has a knack for reinventing himself after business setbacks....
...On that basis, Altice’s premium over the pre-Suddenlink enterprise value for Cablevision ($3.5bn) looks fair. That assumes Cablevision has enough fabric to work with. Perhaps so....
...The transaction will leave Cablevision with $14.5bn of net debt....
...But like Cablevision, it may ultimately be too slim to survive on its own....
...Last week Altice, the French cable giant, was forced to lower the size of a bond offering to finance its takeover of Cablevision....
...No surprise that the share prices of both TWC and rival Cablevision rose sharply on the day, as did Altice’s, 11 per cent....
...Shares of Cablevision, the fourth-largest pay-TV operator controlled by New York’s billionaire Dolan family, surged 22 per cent last week on speculation about further consolidation....
...A combined Charter-TWC may then look to buy another company such as Cablevision, controlled by New York’s Dolan family....
...TWC’s shares rose 5.4 per cent, while smaller rival Cablevision closed up 18 per cent. Altice declined to comment on future deals and Cablevision said it did not comment on “rumours and speculation”....
...Two of those, Cablevision and Charter Communications, have now subtly shifted their personas to “connectivity” companies (Cablevision has even unveiled a mobile WiFi phone service called Freewheel)....
...Cablevision’s stock soared 7.3 per cent to $26.67 a share, leading the S&P 500 index, after the Wall Street Journal reported late on Thursday that Patrick Drahi, owner of Altice, was eyeing the company for...
...The service itself is unlikely to be financially material for either Cablevision or the wireless industry. The concept, however, is a big deal.”...
...It is a plum job obtained through his status as scion of the Cablevision family....
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