Europe's Altice Buys US Cablevision in $17.7 Billion Deal

Franco-Israeli media magnate Patrick Drahi’s telecoms giant Altice
announced Thursday a $17.7 billion (roughly Rs. 1,17,085 crores) takeover of the
US cable operator Cablevision.

The agreement could accelerate the
reshaping of the pay TV and broadband sector at a time when US consumers
are increasingly “cutting the cord” on pricey traditional cable
services and turning to streaming content providers such as Netflix and
Hulu
.

The European…

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