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