Cablevision to be bought by Altice for $17.7 billion, including debt: source

September 17, 2015 1:21 AM

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Cablevision to be bought by Altice for $17.7 billion, including debt: source

Cablevision Systems Corp (CVC.N) has agreed to be purchased by European telecommunications company Altice (ATCA.AS) for $17.7 billion, including debt, a source familiar with the matter told Reuters ahead of an official announcement.

Shares of Cablevision, which is controlled by New York's Dolan family, jumped 16 percent to $33.12 after the bell on Wednesday.

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