Cablevision Systems Corp. (NYSE:CVC)(0.6%) (CVC – $32.47 – NYSE), based in Bethpage, New York, owns and operates cable systems in the U.S., and is the leading operator in the New York metropolitan area, which represents the most attractive U.S. cable market measured by affluence and population density. On September 17, 2015, Altice N.V. agreed to acquire Cablevision for $9.7 billion or $34.90 per share in cash. The transaction reiterates Altice’s desire to continue to expand its presence in the U.S. market. Subject to shareholder and regulatory approvals, the deal is expected to close in the first half of 2016.
From Mario Gabelli (Trades, Portfolio)'s third quarter 2015 ABC Fund commentary.
