Deals
Altice Defends Cablevision Purchase as in New York's Interest
- Commits to improving broadband infrastructure, network speeds
- Rebuffs proposal to share 50% of cost savings with customers
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Altice NV, seeking approval from New York state regulators to buy Cablevision Systems Corp., said it will improve infrastructure and network speeds though didn’t commit to maintaining jobs or passing along half of any cost savings to customers.
Subscribers could sign up for broadband service as fast as 300 megabits per second, while low-income New Yorkers can get a 30-Mbps plan for $14.99 a month, according to a regulatory filing Tuesday. Still, the company rebuffed a proposal from staff of the New York Public Service Commission to share up to 50 percent of any cost savings with customers, agreeing to 15 percent and no more than 25 percent.