{"id":483,"date":"2024-05-21T13:27:14","date_gmt":"2024-05-21T11:27:14","guid":{"rendered":"https:\/\/mediadb.eu\/?p=483"},"modified":"2024-08-15T11:29:33","modified_gmt":"2024-08-15T09:29:33","slug":"15-altice-france-altice-usa-inc","status":"publish","type":"post","link":"https:\/\/mediadb.eu\/en\/2024\/05\/21\/15-altice-france-altice-usa-inc\/","title":{"rendered":"15. Altice France\/Altice USA, Inc."},"content":{"rendered":"

Sales 2023: \u20ac24.844 billion<\/strong><\/p>\n\n\n\n

Overview<\/h2>\n\n\n\n

General Information<\/h2>\n\n\n\n

In 2017, the French-Israeli company founder, Patrick Drahi, took his US business public under the name Altice USA (originally Cablevision, the fourth-largest cable TV company in the USA). The remaining activities (including cable TV, pay TV, press, and telecommunications in France, Israel, Belgium, Portugal, and the Caribbean) remain under the umbrella of Altice Europe NV in Amsterdam. In 2020, Drahi decided to delist the heavily indebted Altice Europe. The last trading day was January 26, 2021.<\/p>\n\n\n\n

Altice France
<\/strong>16 Rue du G\u00e9n\u00e9ral Alain de Boissieu
75015 Paris
France
Telephone: 0033 1 8506 0000
Internet: alticefrance.com<\/p>\n\n\n\n

Altice USA
<\/strong>1 Court Square
West Long Island City
New York 11101
USA
Telephone: 001 516 803 2300
Web: investors.alticeusa.com<\/p>\n\n\n\n

Branches of trade:<\/strong> Cable networks, telecommunications, TV, sports rights, newspapers, magazines
Legal form:<\/strong> Stock Company
Financial year:<\/strong> 01.01-31.12.
Founding year:<\/strong> 2001<\/p>\n\n\n\n

Basic economic data Altice Europe NV (in million \u20ac)<\/strong><\/p>\n\n\n\n

<\/th>2023<\/th>2022<\/th>2021<\/th>2020<\/th>2019<\/th>2018<\/th><\/tr><\/thead>
Revenue<\/td>16.299*<\/td>16.324*<\/td>15.484*<\/td>15.090<\/td>14.796<\/td>14.255<\/td><\/tr>
Profit (Loss)<\/td>—<\/td>—<\/td>—<\/td>218,5<\/td>291,1<\/td>(204,8)<\/td><\/tr>
Share price (in \u20ac, year-end)<\/td>—<\/td>—<\/td>—<\/td>—<\/td>5,75<\/td>1,69<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

* To calculate the total turnover of Altice Europe (according to the delisting<\/em>) we add the euro sales of Altice France and Altice International.<\/p>\n\n\n\n

Basic economic data Altice France<\/strong> (in million \u20ac)<\/p>\n\n\n\n

<\/th>2023<\/th>2022<\/th>2021<\/th>2020<\/th><\/tr><\/thead>
Revenue<\/td>11.157<\/td>11.301<\/td>11.070<\/td>10.902<\/td><\/tr>
EBITDA<\/td>3.923<\/td>4.101<\/td>4.127<\/td>4.283<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Basic economic data Altice International<\/strong> (in million \u20ac)<\/p>\n\n\n\n

<\/th>2023<\/th>2022<\/th><\/tr><\/thead>
Revenue<\/td>5.143<\/td>5.030<\/td><\/tr>
Profit\/(loss) from continuing operations<\/td>(303,8)<\/td>640<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Basic economic data Altice USA (in million $)<\/strong><\/p>\n\n\n\n

<\/th>2023<\/th>2022<\/th>2021<\/th>2020<\/th>2019<\/th>2018<\/th><\/tr><\/thead>
Revenue<\/td>9.240<\/td>9.648<\/td>10.091<\/td>9.895<\/td>9.761<\/td>9.567<\/td><\/tr>
Profit (Loss)<\/td>53,2<\/td>194,6<\/td>990,3<\/td>436,2<\/td>138,9<\/td>18,8<\/td><\/tr>
Stock price (year end, in $US)<\/td>3,01<\/td>4,60<\/td>16,18<\/td>37,87<\/td>27,85<\/td>17,41<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Executives and Directors<\/h2>\n\n\n\n

Management Altice Europe:<\/strong><\/p>\n\n\n\n

    \n
  • Patrick Drahi, President of the Board<\/li>\n\n\n\n
  • Malo Corbin, CFO<\/li>\n\n\n\n
  • Armando Pereira, COO<\/li>\n<\/ul>\n\n\n\n


    Altice Europe Supervisory Board:<\/strong><\/p>\n\n\n\n

      \n
    • Patrick Drahi, President of the Board<\/li>\n\n\n\n
    • Dennis Okhuijsen<\/li>\n\n\n\n
    • Natacha Marty, General Counsel<\/li>\n\n\n\n
    • Jurgen van Breukelen<\/li>\n\n\n\n
    • Thierry Sauvaire<\/li>\n\n\n\n
    • Philippe Besnier<\/li>\n\n\n\n
    • Nicolas Paulmier<\/li>\n<\/ul>\n\n\n\n

      Management Altice USA:<\/strong><\/p>\n\n\n\n

        \n
      • Dexter Goei, CEO<\/li>\n\n\n\n
      • Michael Grau, Chief Financial Officer<\/li>\n\n\n\n
      • Yossi Benchetrit, Chief Procurement and Programming Officer<\/li>\n\n\n\n
      • Pragash Pillai, Executive Vice President, Customer Experience and Regional Market Strategy<\/li>\n\n\n\n
      • Matt Grover, Executive Vice President, Altice Business Services<\/li>\n\n\n\n
      • Keith Brown, President, Altice News and Advertising<\/li>\n\n\n\n
      • Colleen Schmidt, Executive Vice President, Human Resources<\/li>\n\n\n\n
      • Lee Schroeder, Executive Vice President, Government Affairs<\/li>\n\n\n\n
      • Michael Olsen, Executive Vice President, General Counsel and Secretary<\/li>\n\n\n\n
      • Lisa Gonzalez Anselmo, Senior Vice President, Communications<\/li>\n\n\n\n
      • Nick Brown, Senior Vice President, Corporate Finance and Development<\/li>\n\n\n\n
      • Philippe Le May, Special Advisor<\/li>\n<\/ul>\n\n\n\n

        Altice USA Supervisory Board:<\/strong><\/p>\n\n\n\n

          \n
        • Patrick Drahi, Chairman<\/li>\n\n\n\n
        • Dexter Goei, CEO<\/li>\n\n\n\n
        • Charles Stewart, CFO<\/li>\n\n\n\n
        • Dennis Okhuijsen, Director<\/li>\n\n\n\n
        • Susan C. Schnabel, Director<\/li>\n\n\n\n
        • Raymond Svider, Director<\/li>\n\n\n\n
        • Mark Mullen, Director<\/li>\n\n\n\n
        • Gerrit Jan Bakker, Director<\/li>\n\n\n\n
        • David Drahi, Director<\/li>\n<\/ul>\n\n\n\n

          History<\/h2>\n\n\n\n

          Patrick Drahi was born on August 20, 1963, in Casablanca to both parents who were math teachers. According to the Wall Street Journal, he demonstrated his talent for numbers at an early age by correcting and grading the math papers his parents brought home. After his family moved to France, where he received a place at the prestigious \u00c9cole Polytechnique, Drahi began his professional career as a department head at the electronics manufacturer Philips.<\/p>\n\n\n\n

          He soon became interested in the cable market in provincial France. Drahi then toured the United States to learn about the cable business there. Upon returning to France, he acquired smaller, regional companies in the fragmented domestic cable market and consolidated them under the umbrella of the holding company UPC France, which he sold in 1999.<\/p>\n\n\n\n

          With the proceeds, he continued his purchasing spree in France, Belgium, and Israel in the following years. Drahi now had good contacts in the international cable industry \u2013 including with cable TV heavyweight John Malone, on whose behalf he undertook the purchase of the French Time Warner Cable subsidiary. Drahi's new holding company, Altice, grew rapidly. The group acquired a 40 percent stake in the French company Num\u00e9ricable; in 2006, he bought back his former company UPC for a fraction of the sale price; in 2009, Drahi acquired the Israeli pay-TV provider HOT; in the Dominican Republic, Altice founded a joint venture with the French telecom operator Orange.<\/p>\n\n\n\n

          However, the profile of the inconspicuous Drahi first appeared on the radar of media policymakers and regulators in 2014\/15 at the latest, when Altice acquired SFR from Vivendi (27th place in the current IfM ranking) for \u20ac17 billion, beating off competitors such as Bouygues Telecom (TF1), and subsequently acquired Portugal Telecom for around \u20ac8 billion. SFR is the most valuable component of the Altice Group, the second-largest French telecommunications company after Orange SA (formerly France T\u00e9l\u00e9com SA).<\/p>\n\n\n\n

          Drahi achieved his masterpiece in the USA. Through contacts with the private equity group BC Partners, which held shares in the cable provider Suddenlink (then the seventh-largest in the USA), he managed to acquire a 70 percent majority stake in Suddenlink on May 20, 2015, valued at nine billion US dollars. Then, practically intoxicated by ten years of acquisitions financed by cheap loans, Drahi and Altice ventured into one of the big fish in the US telecommunications market: Time Warner Cable. But after negotiations entered the decisive round, Drahi and his team realized they had overextended themselves and simply lacked the manpower to pull off such a massive acquisition (Charter Communications, ranked ninth in the IfM ranking, ultimately won the contract for Time Warner Cable).<\/p>\n\n\n\n

          Instead, Altice returned to its old strategy of growing by acquiring smaller companies until it could attack the market leaders. Thus, Cablevision, the cable and media conglomerate from the New York metropolitan area, became its next target. Drahi\/Altice purchased the company from the Dolan family for ten billion dollars (the deal was completed on June 21, 2016) and made it the centerpiece of the new Altice USA group, which went public in June 2017. However, the FCC only approved the deal subject to conditions: Altice is not allowed to conduct any layoffs for the first five years and must pass on any savings to customers. In the first quarter of 2018, Altice's activities were reorganized, with the business split into a European and a North American branch: Altice Europe NV (Amsterdam) and Altice USA (New York).<\/p>\n\n\n\n

          In mid-May 2020, it was reported: "The left-liberal French daily newspaper Lib\u00e9ration is being transferred to a foundation. This was announced on May 14 by Altice France, which has owned the newspaper for several years." Lib\u00e9ration was founded in 1973 by the philosopher and writer Jean-Paul Sartre and several journalists as a left-wing alternative project. In 2014, Patrick Drahi\/Altice France acquired a stake in the newspaper, which had been operating at a loss for years. By transferring Lib\u00e9ration to a foundation, Altice followed the example of the French media company Mediapart, which had already been transformed into a "Foundation for a Free Press" in 2019 and produces the ad-free online newspaper of the same name, financed exclusively by subscription revenue. The model for the Mediapart foundation model, in turn, was the British Scott Trust, which has secured the daily newspaper "The Guardian" and the weekly newspaper "The Observer" since 1936. The foundation model envisaged for \u201cLib\u00e9ration\u201d is intended to guarantee the newspaper \u201ccomplete editorial, economic and financial independence\u201d.<\/p>\n\n\n\n

          According to its own statement, the Altice Group will "substantially endow the foundation fund for an independent press to enable 'Lib\u00e9ration' to repay all of its debts." At the same time, Altice intends to provide the newspaper with the necessary funds to cover its future operating costs and "thus guarantee its independence in the long term." Altice founder and president Patrick Drahi will "continue to personally oversee the future of 'Lib\u00e9ration'."<\/p>\n\n\n\n

          management<\/h2>\n\n\n\n

          Patrick Drahi is worth $7.1 billion (according to Forbes 2020) and has often been criticized in France for moving his residence to Geneva and registering his personal holding company on the island of Guernsey. Many French people still consider him parvenu <\/em>in the Parisian establishment.<\/p>\n\n\n\n

          His management style is considered uncompromising. French media have diagnosed him with "acquisition bulimia." Competitors are acquired and made more competitive through cost-cutting measures and mass layoffs. The fact that the spending spree is financed by taking on massive debt is another thorn in the side of the public and economic policymakers. Insiders and cable barons in the US, however, admire Drahi for his aggressive expansion policy. Liberty Media CEO John Malone called Drahi a "genius," and Discovery CEO David Zaslav attested to his "special energy." His motto: "The more people tell you something is impossible, the more it means the idea is good and you should pursue it."<\/p>\n\n\n\n

          But the time when Drahi was a tycoon and corporate raider<\/em> was quite admired, seems to be over. Forbes already wrote about the end of the "Drahi hype." However, there was still enough money to buy the long-established US auction house Sotheby's. Drahi paid $3.7 billion in cash in June 2019.<\/p>\n\n\n\n

          Business segments<\/h2>\n\n\n\n

          Altice Europe<\/strong>: multinational telecom and cable consortium that divides its activities into the following divisions:<\/p>\n\n\n\n

          Altice France<\/strong>: SFR T\u00e9l\u00e9com, SFR M\u00e9dia, including NextRadioTV (with the TV channels BFM TV, BFM Business, RMC Story, RMC D\u00e9couverte, BFM Paris, BFM Lyon, RMC Sport News, Grand Lille TV, Grand Littoral TV, the radio stations RMC and BFM Business, various websites such as 01net.com, 01 business.com, bfmtv.com, rmc.fr) and SFR Presse (including L'Express, \u00c0 nous Paris), activities in the French overseas territories (SFR Cara\u00efbe, SFR R\u00e9union), Altice Technical Services France and the customer service department Intelcia.<\/p>\n\n\n\n

          Altice International<\/strong>: Altice Portugal, HOT (leading Israeli telecom and cable TV provider), Altice Dominican Republic, Teads (AdTech service provider).<\/p>\n\n\n\n


          Altice USA <\/strong>in turn, carries out its activities under the following brands:<\/p>\n\n\n\n

          optimum (New York): Cable TV, telephone and internet suddenlink (St. Louis): Cable TV, telephone and internet Optimum mobile: Mobile telephony Altice business (\u201cdata solutions\u201d, \u201cinternet solutions\u201d, \u201csecurity solutions\u201d) a4 Advertising (online advertising) Cheddar News (available on leading pay TV channels such as Optimum, Suddenlink, DirecTV, YouTube TV, Hulu, Spectrum, Sling, Xfinity) news12: Regional news, weather, traffic and sports networks in the New York metropolitan area i24 News (Tel Aviv, Paris, New York): Israeli news channel<\/p>\n\n\n\n

          Current developments<\/h2>\n\n\n\n

          The international financial press was long skeptical about whether Patrick Drahi could maintain the pace at which he was driving the growth of his empire. The massive mountain of debt with which Drahi had financed his various acquisitions was a particular cause for concern. For example, between 2012 and 2016 alone, Altice's debt increased from \u20ac1.7 billion to an unprecedented \u20ac48.5 billion. In France, people said of Drahi: "He tries to run faster than the music." On May 6, 2019, Reuters reported, at least, that Altice would save \u20ac110 million annually after a refinancing round. That the business figures for the first quarter of 2019 were good, and that net debt at the end of 2018 had amounted to (only) \u20ac29 billion.<\/p>\n\n\n\n

          However, on September 11, 2020, it was announced: "Major shareholder Drahi wants to delist French telecom group Altice." The reason for the delisting: Altice Europe was "debt-ridden" and "severely hit on the stock market." Initially wanting to pay \u20ac4.11 per share, Drahi increased his offer to \u20ac5.35 per share in mid-December. The offer was successful. On January 7, 2021, shareholders approved the delisting. Altice Europe became Next Private and Next Alt, both companies controlled by Patrick Drahi.<\/p>","protected":false},"excerpt":{"rendered":"

          Umsatz 2023: \u20ac 24,844 Mrd. \u00dcberblick Basisdaten 2017 brachte der franz\u00f6sisch-israelische Firmengr\u00fcnder Patrick Drahi sein US-Gesch\u00e4ft unter dem Namen Altice USA (urspr\u00fcnglich Cablevision, viertgr\u00f6\u00dftes Kabelfernsehunternehmen der USA) an die B\u00f6rse. Die weiteren Aktivit\u00e4ten (u.a. Kabel-TV, Pay-TV, Presse, Telekommunikation in Frankreich, Israel, Belgien, Portugal und in der Karibik) verbleiben unter dem Dach von Altice Europe N.V. […]<\/p>\n","protected":false},"author":249403804,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"wp-custom-template-intl-konzernprofile","format":"standard","meta":{"tpgb_global_settings":"","_crdt_document":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[771024910],"tags":[771024965,771024966],"class_list":["post-483","post","type-post","status-publish","format-standard","hentry","category-die-100-groessten-medien-und-wissenskonzerne-2023","tag-fr","tag-24-844-mrd"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","tpgb_featured_images":null,"tpgb_post_meta_info":{"get_date":"21. May 2024","get_modified_date":"15. August 2024","category_list":{"category":[{"term_id":771024910,"name":"Die 100 gr\u00f6\u00dften Medien- und Wissenskonzerne 2023","slug":"die-100-groessten-medien-und-wissenskonzerne-2023","term_group":0,"term_taxonomy_id":6,"taxonomy":"category","description":"","parent":0,"count":97,"filter":"raw","term_order":"0"}],"post_tag":[{"term_id":771024965,"name":"(FR)","slug":"fr","term_group":0,"term_taxonomy_id":48,"taxonomy":"post_tag","description":"","parent":0,"count":5,"filter":"raw","term_order":"0"},{"term_id":771024966,"name":"24.844 Mrd.","slug":"24-844-mrd","term_group":0,"term_taxonomy_id":49,"taxonomy":"post_tag","description":"","parent":0,"count":1,"filter":"raw","term_order":"0"}]},"author_name":"mediadb","author_url":"https:\/\/mediadb.eu\/en\/author\/levipaetzold\/","author_email":"levi.paetzold@medienpolitik.eu","author_website":"http:\/\/mediadb2.wordpress.com","author_description":"","author_facebook":"","author_twitter":"","author_instagram":"","author_role":["administrator"],"author_firstname":"","author_lastname":"","user_login":"levipaetzold","author_avatar":"","author_avatar_url":"https:\/\/secure.gravatar.com\/avatar\/e9a124ab6f7756b1a3501c05e3f209d1cb3a3b19d0360c5be65858ba27cbdac8?s=96&d=identicon&r=g","comment_count":0,"post_likes":0,"post_views":0},"tpgb_post_category":{"category":"Die 100 gr\u00f6\u00dften Medien- und Wissenskonzerne 2023<\/a> ","post_tag":"(FR)<\/a> 24.844 Mrd.<\/a> "},"jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pfHkuM-7N","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/mediadb.eu\/en\/wp-json\/wp\/v2\/posts\/483","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mediadb.eu\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mediadb.eu\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mediadb.eu\/en\/wp-json\/wp\/v2\/users\/249403804"}],"replies":[{"embeddable":true,"href":"https:\/\/mediadb.eu\/en\/wp-json\/wp\/v2\/comments?post=483"}],"version-history":[{"count":8,"href":"https:\/\/mediadb.eu\/en\/wp-json\/wp\/v2\/posts\/483\/revisions"}],"predecessor-version":[{"id":1775,"href":"https:\/\/mediadb.eu\/en\/wp-json\/wp\/v2\/posts\/483\/revisions\/1775"}],"wp:attachment":[{"href":"https:\/\/mediadb.eu\/en\/wp-json\/wp\/v2\/media?parent=483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mediadb.eu\/en\/wp-json\/wp\/v2\/categories?post=483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mediadb.eu\/en\/wp-json\/wp\/v2\/tags?post=483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}