Suddenlink now acquired by Altice

Local News

Suddenlink Chairman and CEO Jerry Kent made the following statement today, regarding the announcement that Altice S.A. has agreed to acquire Cequel Corporation, which does business  as Suddenlink:

“I’m very proud of the Suddenlink team and our accomplishments over the last 12 years. This acquisition is a testament to the consistently strong operating and financial results we’ve achieved.”

He continued his statement with “while our strong performance has afforded Suddenlink ready access to growth capital, the backing of Altice will better position the company  to gain critical scale as a major consolidator in the U.S. cable industry. For my part, after the acquisition is completed, I’ll continue to focus on other businesses, through my investment  and management company, Cequel III. Throughout my entrepreneurial career, I’ve been excited and energized by seeking new opportunities and companies, and I look forward to the next chapter.”

Likewise, Dexter Goei, CEO  of Altice, followed through with similar sentiments of his own:

“We are very excited about the acquisition of Suddenlink and are highly committed to continue to improve network investment, customer offers and service innovation in the attractive US market. Our investment in Suddenlink, our first in the cable sector in the US, opens an attractive industrial and strategic avenue for Altice in the US, one of the largest and fastest growing communications markets in the world. We are looking forward to our partnership with BC Partners and CPP Investment Board and believe Suddenlink is a best-in-class business that should be able to deliver profitability and cash flow  levels in line with best-in-class European cable businesses.”

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


More Sports