FCC OKs Altice-Suddenlink Deal

The Federal Communications Commission has stamped its approval on Altice Group’s proposed $9.1 billion acquisition of Suddenlink Communications. Altice and Suddenlink announced the deal in May, with Altice agreeing to acquire a 70 percent interest in the mid-sized, St. Louis (MO)-based company, which has about 1.5 million subscribers in about dozen states, including Texas, Louisiana, Arkansas, West Virginia, Oklahoma and Arizona. France-based Altice also has a deal in place to acquire Cablevision Systems for $17.7 billion, a move that makes Altice the fourth-largest US cable operator.

“We conclude that granting the Applications serves the public interest,” the FCC said in an order and opinion released Dec 18. “Based on our careful review of the record, we find the transaction is unlikely to result in any significant public interest harms,” the FCC continued. “We find that the transaction is likely to result in some public interest benefits of increased investment in local networks facilities and broadband services in Suddenlink’s service territory.” The Department of Justice signed off on the deal Dec. 11.