The Federal Communications Commission ruled Tuesday that Altice N.V.’s $17.7 billion deal for Bethpage-based Cablevision Systems Corp. “serves the public interest.”
The FCC cited potential “benefits of increased broadband speeds and more affordable options for low income consumers.” The ruling is a key regulatory approval for the deal.
Later this month, New York State and New York City regulators will weigh in. Altice said in a statement that it’s “pleased with the FCC issuance of the approval order,” adding, “We continue to make good progress towards a transaction closing in the second quarter of this year.”
Altice, headquartered in the Netherlands, is a multinational cable and telecommunications company with operations in Western Europe, Israel, the French Caribbean, the Dominican Republic, the Indian Ocean and the United States.
Cablevision provides cable TV, high-speed Internet access and digital phone service, and owns media properties including Newsday, News 12 Long Island and amNewYork.