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Cablevision Sells to European Telecom Altice for $17.7 Billion

Shareholders have already approved the deal, which will create the fourth largest U.S. cable operator.

The Verge

Altice is not a readily recognizable name, but it’s a company with big ambitions to be a global player in the cable TV market, and today it’s made its splashiest acquisition in the United States by announcing the $17.7 billion takeover of Cablevision.

This follows the $9.1 billion purchase of majority control of St. Louis-based Suddenlink Communications in May, which was Altice’s initial entry into the U.S. Already established with a number of significant brands in Western Europe, Altice provides the so-called quad-play package of Internet connectivity, fixed and mobile telephony and pay-TV services. The combined footprint of Cablevision and Suddenlink immediately vaults it to the position of fourth largest U.S. cable provider.

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This article originally appeared on Recode.net.