Altice to buy Cablevision for $17.7B to expand in the U.S

September 17, 2015 1:05 AM

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Altice, a European telecom company controlled by billionaire Patrick Drahi, has an agreement to buy Cablevision in a deal valued at $17.7 billion, according to a person familiar with their talks.

Not including Cablevision's debt, Altice will pay about $10 billion in cash for the Bethpage, N.Y.-based cable company, the source said, speaking anonymously because the deal is still not completed. An announcement could be made tomorrow.

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