A French telecom giant just bought Cablevision to move into the US market
Thomson Reuters
James Dolan, CEO of Cablevision
The deal, which is expected to be announced as soon as Thursday, comes not long after Charter Communications agreed to buy Time Warner Cable and AT&T bought DirectTV.
The New York Times describes Cablevision as "one of the last remaining trophies of the American cable industry."
Altice, owned by a French billionaire, has made its intention to move into the U.S. cable market clear: It bought Suddenlink Communications in May, and was reportedly in talks to buy Time Warner Cable before Charter sealed the deal.
Cablevision was founded by Charles Dolan in the 1960s; it's currently run by his son James.
The Altice deal for Cablevision would end Jimmy Dolan's 20-year run as CEO. Nice way to exit the business his dad founded.
- Anupreeta Das (@PreetaTweets) September 17, 2015
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