Layer3 TV to Launch in Chicago Soon, Backed by Altice and John Paulson

Secretive cable TV upstart Layer3 TV is getting ready to launch in Chicago (IL) in the coming weeks. Some of the money used to finance the launch comes from two previously unannounced investors: French telecommunication company Altice, through newly acquired US subsidiary Suddenlink, and Paulson Co., the investment company of famed hedge fund investor John Paulson.

A Layer3 spokesperson declined to comment on unannounced investors, but confirmed plans to launch in Chicago soon. “After an oversubscribed trial run in Texas, we look forward to making the Second City first in cable,” he said. Layer3 TV wants to compete with traditional cable companies by offering consumers a modern, 4K-ready set-top box, a DVR that records up to eight shows at the same time and no long-term contract obligations. The company launched a beta test under the Umio brand in late 2015 in Texas, and is now getting ready to enter a second market with its debut in Chicago. Layer3 TV has started to hire sales representatives and other necessary staffers to prepare for its roll-out in the city, and targeted local consumers with banner ads.