Altice has received the final approvals needed to push ahead with its $10 billion purchase of Cablevision.
The New York State Public Commission authorised the transaction on Wednesday, attaching conditions that include the upgrade of broadband services and the safeguarding of local customer service jobs.
Patrick Drahi’s vehicle, which also owns the French Numbericable-SFR network, will gain 3.1 million subscribers in New York, New Jersey and Connecticut.
The acquisition of Cablevision also includes Lightpath, the company’s business services unit; News 12 Networks, the first, largest, and most- watched 24-hour local television news network in the US; Newsday Media Group with the newspapers Newsday and am NewYork; and Cablevision Media Sales, the company’s advertising sales division.