Altice USA Statement on Transaction by BC Partners
NEW YORK--(BUSINESS WIRE)-- Altice USA (NYSE: ATUS) today makes the following statement following the sale of Altice USA shares by funds advised by BC Partners:
After the market close today, funds advised by BC Partners elected to sell approximately 17.3 million Altice USA Class A shares, representing all of their remaining stake in the company. Consistent with Altice USA’s share repurchase program, the company elected to purchase approximately 6.9 million of these shares, for a total consideration of approximately $187 million.
About Altice USA
Altice USA (NYSE: ATUS) is one of the largest broadband communications and video services providers in the United States, delivering broadband, pay television, mobile, proprietary content and advertising services to more than 4.9 million residential and business customers across 21 states through its Optimum and Suddenlink brands. The company operates a4, an advanced advertising and data business, which provides audience-based, multiscreen advertising solutions to local, regional and national businesses and advertising clients. Altice USA also offers hyper-local, national, international and business news through its News 12, Cheddar and i24NEWS networks.
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Source: Altice USA
Released August 12, 2020