Altice USA Completes Acquisition of Morris Broadband

Rhea-AI Summary

Altice USA (NYSE: ATUS) has successfully completed the acquisition of Morris Broadband, LLC, enhancing its presence in North Carolina, where it now serves approximately 36,500 additional customers. This acquisition positions Altice as the sixth largest provider in the state. CEO Dexter Goei expressed enthusiasm for integrating Morris Broadband’s operations and expanding their Optimum-branded services. The company plans to invest in technology and infrastructure to improve connectivity for its customers, aiming for increased scale and operational efficiencies.

Positive

• Acquisition of Morris Broadband expands customer base by approximately 36,500.
• Increases Altice USA's footprint in North Carolina, becoming the 6th largest provider.
• Strategic investment in technology and infrastructure to enhance service reliability.
• Potential for operational efficiencies and scale in business model.

Negative

• None.

Altice USA (NYSE: ATUS) today announces that it has closed the previously announced acquisition of the assets of Morris Broadband, LLC (“Morris Broadband”).

Morris Broadband is a rapidly-growing broadband communications services company providing high-speed data, video and voice services to approximately 36,500 residential and business customers in western North Carolina. The deal extends Altice USA’s footprint in North Carolina, making it the sixth largest state for the Company in terms of number of customers.

Altice USA CEO Dexter Goei says, “We are thrilled to welcome the very fast-growing Morris Broadband business and look forward to providing our Optimum-branded broadband, video, voice and news offerings to tens of thousands of additional customers. As a company, we take great pride in contributing to the communities where our employees and customers live and work and, as we expand our presence in North Carolina, we will invest in the technology and infrastructure needed to ensure customers have the reliable connectivity services they need to live their lives connected.”

In working through the transition of integrating Morris Broadband into Altice USA and launching Optimum services, the Company will communicate directly with current Morris Broadband customers about how to continue to manage their accounts. Morris Broadband customers are encouraged to review the Company’s suite of products, including Internet services up to 1 Gig, by visiting optimum.com/morris.

With this transaction, Altice USA will benefit from enhanced scale, operating efficiencies and further investment support that are at the core of the Company’s business model and strategy, including accelerated new homes build.

About Altice USA

Altice USA is one of the largest broadband communications and video services providers in the United States, delivering broadband, video, mobile, proprietary content and advertising services to more than 5 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210406006014/en/

FAQ

What are the details of Altice USA's acquisition of Morris Broadband?

Altice USA has acquired Morris Broadband, expanding its customer base by approximately 36,500 in North Carolina, making it the sixth largest provider in the state.

How will the acquisition of Morris Broadband impact Altice USA's operations?

The acquisition is expected to enhance operating efficiencies, scale, and support further investments in technology and infrastructure.

What services can Morris Broadband customers expect from Altice USA?

Morris Broadband customers will have access to Optimum-branded broadband, video, voice, and news offerings.

When did Altice USA close the acquisition of Morris Broadband?

Altice USA announced the closure of the acquisition today, marking a significant expansion in their North Carolina operations.

Why is the acquisition of Morris Broadband important for Altice USA?

The acquisition is significant as it enhances customer reach, ensures scale, and aligns with the company's strategy of investing in technology and improving service reliability.