Altice USA Concludes Its Review of Strategic Alternatives for Suddenlink Business

Rhea-AI Summary

Altice USA (NYSE: ATUS) has completed its review of strategic alternatives for its Suddenlink business. The Board of Directors has unanimously decided to continue operating Suddenlink, believing this aligns with the company's long-term business plan and serves the best interests of its stockholders. Altice USA is a leading provider of broadband and video services in the U.S., serving nearly 5 million customers through its Optimum brand and offering advanced advertising solutions via its a4 business.

Positive

• The Board's unanimous decision to retain Suddenlink may stabilize operations and foster long-term growth.
• Continued operation aligns with a long-term business strategy, potentially benefiting stockholder value.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- Altice USA, Inc. (NYSE: ATUS) announces today that it has concluded its previously announced review of strategic alternatives for its Suddenlink business.

The Company releases the following statement:

“Over the course of the past several months, the Company has been considering options for, including the potential sale of, its Suddenlink business. Following this evaluation, the Board of Directors has unanimously determined that continuing to operate Suddenlink and pursuing the Company’s long-term business plan represents the best path forward for Altice USA and its stockholders.”

About Altice USA

Altice USA (NYSE: ATUS) 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 nearly 5.0 million residential and business customers across 21 states through its Optimum brand. 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 News and i24NEWS networks.

FORWARD-LOOKING STATEMENTS

Certain statements in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, all statements other than statements of historical facts contained in this release, including, without limitation, those regarding our intentions, beliefs or current expectations concerning, among other things: our future financial conditions and performance, our long-term strategy and business plans, market conditions, industry developments and potential strategic opportunities. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms “represents”, “forward”, "will", or “continue”, or other variations or comparable terminology. Where, in any forward-looking statement, we express an expectation or belief as to future results or events, such expectation or belief is expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the expectation or belief will result or be achieved or accomplished. To the extent that statements in this release are not recitations of historical fact, such statements constitute forward-looking statements, which, by definition, involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements including risks referred to in our most recently filed Annual Report on Form 10-K and in our most recently filed Quarterly Report on Form 10-Q. You are cautioned to not place undue reliance on Altice USA’s forward-looking statements. Any forward-looking statement speaks only as of the date on which it was made. Altice USA specifically disclaims any obligation to publicly update or revise any forward-looking statement, as of any future date.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221130006207/en/

Investor Relations

Nick Brown: +1 917 589 9983 / nick.brown@alticeusa.com

Sarah Freedman: +1 631 660 8714 / sarah.freedman@alticeusa.com

Communications

Lisa Anselmo: +1 516 279 9461 / lisa.anselmo@alticeusa.com

Janet Meahan: +1 516 519 2353 / janet.meahan@alticeusa.com

Source: Altice USA

FAQ

What did Altice USA announce regarding Suddenlink on October 30, 2023?

Altice USA announced the conclusion of its review of strategic alternatives for its Suddenlink business, opting to continue its operations.

What is Altice USA's stock symbol?

Altice USA trades under the stock symbol ATUS.

How many customers does Altice USA serve?

Altice USA serves nearly 5 million residential and business customers across 21 states.

What services does Altice USA provide?

Altice USA provides broadband, video, mobile, proprietary content, and advertising services.