AllAnalyst Report
logoMorningstarSeptember 22, 2020

Altice USA, Inc.: Trian’s Comcast Stake Highlights the Valuation Disconnect Among Cable Firms

Symbols
ATUS
Sector(s)
Communication Services
Rating
Premium
Current Price
$34.71
Fair Value
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Economic Moat
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Stewardship
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Summary

Altice Europe acquired privately held U.S. cable company Suddenlink in 2015 and Cablevision in 2016. Suddenlink’s networks provide television, Internet access, and phone services to roughly 3.5 million U.S. homes and businesses located primarily in smaller markets, with major clusters in Texas, West Virginia, Idaho, Arizona, and Louisiana. Cablevision provides comparable services to about 5.2 million homes and business exclusively in the New York City metro area. Altice Europe spun off Altice USA, which includes both the Suddenlink and Cablevision operations, to shareholders in 2018. Altice USA also owns News 12 Networks, which broadcasts local 24-hour news networks in New York, i24News, a news operation focused on the Middle East and Israel, and Cheddar, a news upstart.

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