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Cablevision
Cablevision Systems Corporation was an American cable television company with systems serving areas surrounding New York City. It was the fifth-largest cable provider and ninth-largest television provider in the United States. Throughout its existence and in its final years, Cablevision exclusively served customers residing in New York, New Jersey, Connecticut, and a small part of Pennsylvania. However, at one time it provided service in as many as 19 states. Cablevision also offered high-speed Internet connections (Optimum Online), digital cable (Optimum TV/IO Digital Cable), and VoIP (Optimum Voice) phone service (the eighth-largest telephone provider in the U.S.) through its Optimum brand name. Cablevision also offered a WiFi-only mobile phone service dubbed Freewheel.
On June 21, 2016, Cablevision was acquired by European telecom conglomerate Altice. The former Cablevision services operate under Altice USA which continues to operate brands Optimum Online, Optimum Voice, and Optimum TV.
In the mid-1960s, Charles Dolan built a cable system called Sterling Manhattan Cable in the borough of Manhattan and launched Home Box Office (HBO). He ended up selling both the cable system and HBO to Time Life Inc. He used the money to start a new cable system in suburban Long Island called CableVision. Cablevision, having changed its name from CableVision, quickly expanded by building on Long Island and acquiring smaller cable systems from other providers. Cablevision also built systems throughout the New York metro area: some of the other boroughs of New York City, New Jersey, Westchester County, and Connecticut.
In the 1980s, Cablevision also expanded into the Chicago, Boston, and Cleveland areas. By the mid-1990s Cablevision would offer service to 2.9 million subscribers in 19 states. Through a series of transactions in the late 1990s, Cablevision consolidated its cable systems into three core areas: New York, Cleveland, and Boston. Despite reducing the number of areas served, they brought the number of subscribers to 3.5 million through these transactions. One major transaction made at this time was with Tele-Communications Inc. (TCI). Cablevision gained 10 New York area cable systems from TCI and in exchange TCI gained 33% ownership in the company. In 1999, AT&T Corporation took over TCI thus giving them the one-third ownership in Cablevision. In 2000, Cablevision sold-off its remaining systems outside the New York area in Boston, Cleveland, and Kalamazoo, Michigan to MediaOne, Adelphia, and Charter Communications respectively. As part of the deal, Cablevision traded its Boston area systems for MediaOne's Hudson Valley systems. AT&T sold its share of Cablevision in 2001.
On June 13, 2010, Cablevision announced that it would acquire Bresnan Communications for $1.37 billion. Bresnan provided service to about 308,000 cable subscribers in Colorado, Montana, Utah, and Wyoming. This is the first time in a decade that Cablevision has owned systems outside the New York area (although Bresnan, like Cablevision, had its headquarters in the New York City suburbs). In May 2011, Cablevision rebranded the Bresnan systems as Optimum West.
On February 8, 2013, Cablevision reached an agreement to sell its Optimum West systems to Charter Communications for US$1.63 billion.
On November 23, 2013, Cablevision laid off 400 employees.
On September 17, 2015, it was announced that Patrick Drahi's European telecom conglomerate Altice would acquire Cablevision for $17.7 billion, including debt, pending regulatory approval. The deal was approved by the FCC on May 3, 2016 and after approval from various regional regulators such as New Jersey's Board of Public Utilities and the New York Public Service Commission, closed on June 21, 2016. Under the terms of the deal, Altice paid $34.90 in cash for each share in Cablevision and a 22% premium to the company's stock price; Altice also assumed Cablevision's debt. The former assets of Cablevision operate as Altice USA.
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Cablevision
Cablevision Systems Corporation was an American cable television company with systems serving areas surrounding New York City. It was the fifth-largest cable provider and ninth-largest television provider in the United States. Throughout its existence and in its final years, Cablevision exclusively served customers residing in New York, New Jersey, Connecticut, and a small part of Pennsylvania. However, at one time it provided service in as many as 19 states. Cablevision also offered high-speed Internet connections (Optimum Online), digital cable (Optimum TV/IO Digital Cable), and VoIP (Optimum Voice) phone service (the eighth-largest telephone provider in the U.S.) through its Optimum brand name. Cablevision also offered a WiFi-only mobile phone service dubbed Freewheel.
On June 21, 2016, Cablevision was acquired by European telecom conglomerate Altice. The former Cablevision services operate under Altice USA which continues to operate brands Optimum Online, Optimum Voice, and Optimum TV.
In the mid-1960s, Charles Dolan built a cable system called Sterling Manhattan Cable in the borough of Manhattan and launched Home Box Office (HBO). He ended up selling both the cable system and HBO to Time Life Inc. He used the money to start a new cable system in suburban Long Island called CableVision. Cablevision, having changed its name from CableVision, quickly expanded by building on Long Island and acquiring smaller cable systems from other providers. Cablevision also built systems throughout the New York metro area: some of the other boroughs of New York City, New Jersey, Westchester County, and Connecticut.
In the 1980s, Cablevision also expanded into the Chicago, Boston, and Cleveland areas. By the mid-1990s Cablevision would offer service to 2.9 million subscribers in 19 states. Through a series of transactions in the late 1990s, Cablevision consolidated its cable systems into three core areas: New York, Cleveland, and Boston. Despite reducing the number of areas served, they brought the number of subscribers to 3.5 million through these transactions. One major transaction made at this time was with Tele-Communications Inc. (TCI). Cablevision gained 10 New York area cable systems from TCI and in exchange TCI gained 33% ownership in the company. In 1999, AT&T Corporation took over TCI thus giving them the one-third ownership in Cablevision. In 2000, Cablevision sold-off its remaining systems outside the New York area in Boston, Cleveland, and Kalamazoo, Michigan to MediaOne, Adelphia, and Charter Communications respectively. As part of the deal, Cablevision traded its Boston area systems for MediaOne's Hudson Valley systems. AT&T sold its share of Cablevision in 2001.
On June 13, 2010, Cablevision announced that it would acquire Bresnan Communications for $1.37 billion. Bresnan provided service to about 308,000 cable subscribers in Colorado, Montana, Utah, and Wyoming. This is the first time in a decade that Cablevision has owned systems outside the New York area (although Bresnan, like Cablevision, had its headquarters in the New York City suburbs). In May 2011, Cablevision rebranded the Bresnan systems as Optimum West.
On February 8, 2013, Cablevision reached an agreement to sell its Optimum West systems to Charter Communications for US$1.63 billion.
On November 23, 2013, Cablevision laid off 400 employees.
On September 17, 2015, it was announced that Patrick Drahi's European telecom conglomerate Altice would acquire Cablevision for $17.7 billion, including debt, pending regulatory approval. The deal was approved by the FCC on May 3, 2016 and after approval from various regional regulators such as New Jersey's Board of Public Utilities and the New York Public Service Commission, closed on June 21, 2016. Under the terms of the deal, Altice paid $34.90 in cash for each share in Cablevision and a 22% premium to the company's stock price; Altice also assumed Cablevision's debt. The former assets of Cablevision operate as Altice USA.
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