For Immediate Release: 06/15/16
Audrey Zibelman, Chair
Contact: James Denn | James.Denn@dps.ny.gov | (518) 474-7080
16036/15-M-0647 June 15, 2016
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Cablevision Sale Approved with Conditions to Increase Speed, Improve Reliability, Expand Broadband Access, Protect JobsBroadband Speeds Triple by 2017; Broadband Discounts for Approximately 600,000 Eligible Low-Income Families |
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ALBANY — The New York State Public Service Commission (Commission) today voted to approve the sale of Cablevision Systems Corp. to Altice N.V., a multinational cable television provider, with public interest conditions that the Commission estimates will provide $243 million in benefits to New York consumers to upgrade the broadband infrastructure, create a new low-income broadband program, build out its network in unserved areas, and provide some $40 million of additional benefits associated with Cablevision’s participation in a new federal broadband affordability program.
“As a result of Governor Andrew M. Cuomo’s strengthening of our oversight of the sale of cable companies, we were able to put in place rigorous conditions on the transaction to ensure it was in the best interest of customers and the State as a whole,” said Commission Chair Audrey Zibelman. “With our decision today, we will see a significant investment in New York’s communication landscape that improves quality, reliability, speed and affordability for Cablevision’s customers.”
In 2014, Governor Cuomo signed into law legislation that strengthened cable merger review standards. The law requires cable companies seeking merger approval to demonstrate to the Commission that the transaction is in the public interest. After six months of extensive review and significant public input, the Commission approved the sale with a comprehensive set of conditions.
With the decision, Altice will triple the speed of its network to 300 Mbps by the end of 2017, increase high-speed broadband access in rural and urban communities in its service territory, provide new low-income broadband offerings and deliver free broadband Internet access to 40 anchor institutions in unserved or underserved areas.
The company will also introduce new technology to serve its nearly 2 million customers more thoroughly and efficiently, and provide a robust storm-resiliency initiative for Long Island and the rest of its service territory. Importantly, the company will also maintain a strong customer-service workforce by committing to no layoffs for four years.
Decision Highlights:
The Commission has actively taken steps to improve the communications market in New York State. In January, the Commission approved the merger of Time Warner Cable and Charter Communications, which will dramatically improve broadband availability for millions of New Yorkers and lead to more than $1 billion in direct investments and consumer benefits, including doubling broadband speeds for more than two million customers by 2018.
Cablevision, based in Bethpage, Nassau County, has about 1.9 million voice, broadband and video customers in New York with more than 220 cable franchises in Long Island, New York City and the lower Hudson Valley. Altice is a multinational cable and telecommunications company with operations in Western Europe, Israel, the French Caribbean, the Dominican Republic and regions of the Indian Ocean. As part of its review, the Commission held five public forums attended by more 250 people. The Commission’s decision today addresses concerns raised by the public and interested stakeholders. The sale has already been approved by the Federal Communications Commission, the U.S. Department of Justice, and New York City. No further Commission action is required.
Today’s decision may be obtained by going to the Commission Documents section of the Commission’s Web site at www.dps.ny.gov and entering Case Number 15-M-0647 in the input box labeled "Search for Case/Matter Number". Many libraries offer free Internet access. Commission documents may also be obtained from the Commission’s Files Office, 14th floor, Three Empire State Plaza, Albany, NY 12223 (518-474-2500). If you have difficulty understanding English, please call us at 1-800-342-3377 for free language assistance services regarding this press release. |
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