Altice USA, Inc. (NYSE: ATUS) was founded in 1973 (the name was CableVision at the time ). It was a US subsidiary that was spin-off after the French telecom giant Altice NV (Euronext: ATC) acquired the original Cablevision Systems Corporation. It was incorporated in Delaware on September 14, 2015, headquartered in Long Island City, New York, USA, with 9,047 full-time employees (15,300 on 3/31/2018, 3/31/2017), the largest broadband communications in the United States And one of the video service providers.
Altice USA (ATUS):
Altice USA (formerly known as Cablevision or Optimum) is a subsidiary of Altice NV, an American cable television provider/multi-system operator, and one of the largest broadband communications and video service providers in the United States.
Altice USA is divided into two departments to operate: Cablevision and Cequel.
1. Altice USA provides broadband, pay TV, telephone service, Wi-Fi hotspot access, proprietary content and advertising services to approximately 4.9 million residential and commercial customers.
2. Altice USA also provides wireless routers and Internet security software; pay-TV services, including the transmission of radio stations and cable TV networks, and advanced digital pay-TV services such as video on demand, high-definition channels, digital video recorders and pay-per-view program.
3. In addition, Altice USA also provides Ethernet, data transmission, IP-based virtual private network, Internet access and phone services; hosted phone, hosted Wi-Fi, hosted desktop and server backup services; managed collaboration services, including audio and Web conferencing; including commercial email, hosted dedicated exchange extensions, web space storage and network security monitoring; data-driven TV, digital and other multi-platform advertising services; data-driven and audience-based advertising solutions.
4. Altice USA also operates local news channels, as well as traffic and weather channels; News12.com, an online local news service; and the mobile application News 12 To Go for mobile phones and tablets.
Altice USA acquires Cablevision:
On September 17, 2015, Altice NV of the Netherlands announced the acquisition of Cablevision from the Dolan family and other public shareholders for USD 17.7 billion. The agreement was approved by the FCC on May 3, 2016, and was approved by the New Jersey Public Utilities Commission and the New York Public Service Commission and other regional regulatory agencies, and was completed on June 21, 2016. According to the terms of the transaction, Altice paid $34.90 in cash for each share of Cablevision, which is 22% higher than the company’s stock price. Altice also assumed Cablevision’s debt. The Cablevision name is no longer used, the company changed its name to Altice USA, Optimum remains the company’s customer-oriented brand.
Before Cablevision Systems Corporation was acquired, there were three main businesses: cable television, Lightpath, and others.
- Cable business : Provide film and television services including programs, regional broadcasting network branches and independent TV stations, other news, information, sports and entertainment channels, regional sports networks, on-demand video entertainment, and entertainment and advertising services under the Optimum brand. There are also high-speed data services provided to residential and small business customers through wired network modem facilities under the name Optimum Online. Voice service via network protocol under the name Optimum Voice.
- Lightpath business : Provide Internet-based data, network, voice, and video transmission and management services to health care, finance, education, legal, and professional service industries, as well as public sector and communication service providers.
- Other business : Newsday daily newspaper, amNew York free daily newspaper, Star Community publishing company, weekly shopping publications and website operation. The business also provides News 12 Networks, responsible for the supply of regional news program services, cable TV commercials, MSG Interactive, MSG Varsity Interactive, and Tag Games.
Altice USA (ATUS) History:
- In the mid-1960s, Charles Dolan founded Sterling Manhattan Cable and Home Box Office (HBO). Later, these two companies were sold to Time Life Inc. (NYSE:TWC) and used the money they sold to establish in 1973 Cablevision;
- As of the mid-1990s, Cablevision had more than 2.9 million subscribers in 19 states;
- In the late 1990s, Cablevision acquired 10 limited systems in New York State under Tele-Communications Inc. (TCI). In exchange, TCI acquired 33% of Cablevision’s equity;
- In 1999, AT&T Corporation acquired TCI, and therefore acquired 1/3 of Cablevision;
- In 2000, CNN sold its business outside of New York;
- In 2001, AT&T sold its Cablevision shares;
- On June 13, 2010, Cablevision announced that it would acquire Bresnan Communications, a company that provides limited TV services in Colorado, Montana, Utah, and Wyoming, for US$1.37 billion. This is also the first time a US cable company has acquired Provide services outside of New York;
- In May 2011, Cablevision renamed Bresnan systems Optimum West;
- February 8, 2013, Cablevision Optimum West systems to sell 1.63 billion dollars to the nation’s third-largest cable company Carter Communications (Charter Communications);
- On September 17, 2015, the Dutch company Altice (Euronext: ATC) announced the acquisition of Cablevision Systems Corporation from the Dolan family for $17.7 billion . The transaction was completed in June 2016. After the acquisition, the original company was delisted from NYSE and the company was renamed Altice USA, Inc.
- In May 2017, Altice USA announced its intention to replace the original Suddenlink and Cablevision assets with the Altice brand before the end of the second quarter of 2018; and plans to officially abandon the Optimum brand, including: high-speed Internet connection and broadband services-Optimum Online; digital Cable TV service-Optimum TV; IP voice phone service-Optimum Voice (the eighth largest telephone provider in the United States); and the Lightpath brand that provides fiber-optic business data and voice services in the New York area.
- In June 2017, European telecommunications and media giant Altice plans to raise approximately US$1.4 billion from the listing of its US subsidiary (Altice USA) to conduct new acquisitions in the United States. Investors participating in this round of financing will not have voting rights.
- On January 8, 2018, Altice NV announced that it would spin off Altice USA and become an independent company. Patrick Drahi will maintain control of the two companies, although they will be led by independent management teams.
Altice USA (ATUS) investment:
Altice USA, Inc. (NYSE:ATUS) listed on the New York Stock Exchange on 6/22/2017 IPO, with an issue price of US$30 and 63,943,029 shares issued, raising US$1,918,290,870.00, stock code: ATUS.