Altice And The Future Of The US Pay-TV Industry | Tim Mulligan | Pulse | LinkedIn
Posted on: 19 juin 2017, by : Basile
On Monday last week, Altice, the fourth largest US pay-TV operator, laid out the details of its planned IPO (Initial Public Offering). With a projected initial public stock price offering of $27-$31 per share, the 45.5 million shares to be offered will mean that the company will raise between $1.3 billion and $1.4 billion, valuing the whole business at around $20 billion. In addition to raising the additional funds via the planned IPO, creating a $20 billion public vehicle will enable Altice to directly use equity to fund its continued US acquisition strategy. Corporate debt issuance deals will also become cheaper to fund, due to the tighter regulatory and reporting requirements in place around public companies, thereby significantly increasing the war chest available to Altice USA.
The Altice Approach
With 4.9 million US customers, Altice is now the fourth largest pay-TV operator since it moved into the US market through its formal founding in 2016, on the back of its acquisition of Suddenlink communications for $9.1 billion and its $17 billion buyout of Cablevision Systems. Patrick Drahi,