Cablevision agrees to $17.7B takeover offer

September 17, 2015 8:40 AM

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NEW YORK -- European telecommunications and cable company Altice has agreed to buy New York cable operator Cablevision for $17.7 billion, including debt.

Altice announced the deal Thursday morning before European financial markets opened, and Cablevision said the family-controlled company decided that "the time is right for new ownership of Cablevision."

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