Altice accepts PSC conditions on Cablevision deal
A view of Cablevision headquarters in Bethpage on Sept. 17, 2015. Cablevision is being sold to Altice, a Netherlands-based company. Credit: Newsday / J. Conrad Williams Jr.
Altice N.V., the Netherlands-based cable and telecommunications company that is purchasing Cablevision Systems Corp., said Thursday it “accepts the conditions of approval” set down by the state Public Service Commission for approval of the $17.7 billion deal.
The four commissioners unanimously okayed the transaction on Wednesday, subject to the acceptance of conditions that they said were aimed at ensuring quality service and restricting increased debt levels at Bethpage-based Cablevision. The conditions include boosting internet broadband speeds and not laying off customer service representatives and service technicians for four years.
Cablevision executives have said they expect the deal to close by June 30. Cablevision owns Newsday, the News 12 networks and amNewYork.
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Get ready for sun and fun with NewsdayTV's summer FunBook special! From celebrating America's 250th birthday to a new ride at Adventureland, NewsdayTV's Elisa DiStefano and Newsday lifestyle editor Meghan Giannotta have your inside look at Newsday's summer FunBook.
