Europe's Altice enters US cable frenzy with Suddenlink deal
NEW YORK — There’s a new player in the U.S. cable dating game.
European cable and mobile phone operator Altice, controlled by founder Patrick Drahi, is fixing its sights on the U.S. market starting with a $9.1 billion deal for St. Louis-based Suddenlink.
There are likely to be more attempts at U.S. purchases. Altice, which has grown through a series of acquisitions over the past dozen years, said Wednesday that it envisions U.S. operations making up about half its business.
A wave of consolidation has swept the cable and satellite TV industry as U.S. viewers increasingly turn to Internet providers like Netflix for their TV fix. At the same time, the cable companies’ costs for the channels have grown.
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