European telecom company Altice to buy Cablevision

Cablevision announced Thursday that it will be sold to European telecom company Altice.



The purchase is expected to be completed by the first half of 2016.



The acquisition of Cablevision represents Altice's next step in the U.S. market following the announced acquisition of Suddenlink earlier this year.



Cablevision is the parent company of News 12.


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