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Altice weighing bid for Charter Communications, sources say

Reports say Altice USA, seen here on June

Reports say Altice USA, seen here on June 21, 2017, is looking into a bid for Charter Communications. Photo Credit: Ed Betz

Altice, a provider of cable, internet and telephone services, is weighing a bid for competitor Charter Communications, according to media reports.

The reports by CNBC and Reuters, citing unidentified sources, said Netherlands-based Altice N.V. and its U.S. unit, Altice USA Inc., based in Bethpage, are in the early stages of working on a buyout offer for Charter.

Altice N.V. purchased Cablevision Systems Corp. of Bethpage last year and then combined it with Suddenlink of St. Louis, Missouri, to form Altice USA. Altice USA, which serves 21 states, went public in June and plans to move its headquarters to Long Island City, Queens.

A spokeswoman for Altice USA declined to comment Wednesday on the reports. Altice USA owns 25 percent of Newsday Media Group.

Charter, based in Stamford, Connecticut, has been the subject of multiple merger rumors under CEO Tom Rutledge, who was a top Cablevision executive before joining Charter.

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