M&A Deal Summary

Altice Acquires Bresnan Communications

On December 14, 2010, Altice acquired media company Bresnan Communications from Quadrangle Group, The Blackstone Group and Providence Equity Partners for 1.4B USD

Acquisition Highlights
  • This is Altice’s 2nd transaction in the Media sector.
  • This is Altice’s largest (disclosed) transaction.
  • This is Altice’s 3rd transaction in the United States.
  • This is Altice’s 2nd transaction in New York.
Investment Fate
  • Bresnan Communications was divested to a consortium of strategic buyers in 2013 for 1.6B USD.

M&A Deal Summary
Date 2010-12-14
Target Bresnan Communications
Sector Media
Buyer(s) Altice
Sellers(s) Quadrangle Group
The Blackstone Group
Providence Equity Partners
Deal Type Add-on Acquisition
Deal Value 1.4B USD
Advisor(s) Credit Suisse Investment Banking (Financial)
Holland & Hart LLP (Legal)

Target

Bresnan Communications

Purchase, New York, United States
website
Bresnan Communications LLC operates cable television systems serving approximately 300,000 basic subscribers in Montana, Wyoming, Colorado and Utah. Bresnan delivers advanced products and services such as high-speed Internet access, high-definition television, video-on-demand and telephone to residential and business customers across an upgraded network.

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Buyer(S) 1

Buyer

Altice

Long Island City, New York, United States

website

Category Company
Founded 2015
Sector Media
Employees11,000
Revenue 9.6B USD (2022)
DESCRIPTION

Altice is a telecommunications, media and entertainment company with a portfolio of operations that includes digital television, voice and high-speed Internet services, some of the country's most-watched national television networks, and valuable local media and programming properties. Altice was founded in 2015 and is based in Long Island City, New York.

DEAL STATS #
Overall 3 of 7
Sector (Media) 2 of 3
Type (Add-on Acquisition) 2 of 6
State (New York) 2 of 3
Country (United States) 3 of 7
Year (2010) 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-29 Newsday

Melville, New York, United States

Newsday is a daily newspapers, serving Long Island and New York City. In addition to the newspaper and Newsday.com, Newsday Media Group includes amNewYork, the fast-growing free daily in New York City with an average weekday circulation of 335,000, plus the Star Community Publishing Group of weekly shoppers and Island Publications' portfolio of lifestyle magazines.

Buy $650M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-27 Clearview Cinemas Theaters

United States

Clearview Cinemas Theaters LLC operates chain of community-centered movie theaters that target families and value-oriented older audiences.

Sell -

Seller(S) 3

SELLER

Quadrangle Group

New York, New York, United States

Investor Investor

website

Category Private Equity Firm
Founded 2000
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Quadrangle Group is a specialist private equity firm focused on the information and communications technology services sectors. Quadrangle was formed in 2000 and is based in New York City.

DEAL STATS #
Overall 14 of 20
Sector (Media) 5 of 6
Type (Add-on Acquisition) 5 of 8
State (New York) 3 of 3
Country (United States) 13 of 16
Year (2010) 3 of 3
Size (of disclosed) 5 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-11-03 MGM

Beverly Hills, California, United States

MGM is an entertainment company focused on the production and global distribution of film and television content across all platforms. The company owns one of the world’s deepest libraries of premium film and television content.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-19 Suddenlink

St. Louis, Missouri, United States

Suddenlink is a major U.S. cable broadband provider, supporting the information, communication and entertainment demands of approximately 1.3 million customers in North Carolina, West Virginia, Missouri, Arkansas, Louisiana, Texas, Oklahoma and California. Suddenlink was formed in 2003 and is based in St. Louis, Missouri.

Sell $6.6B
SELLER

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1987
PE ASSETS 131.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York City.

DEAL STATS #
Overall 52 of 170
Sector (Media) 6 of 7
Type (Add-on Acquisition) 21 of 66
State (New York) 4 of 12
Country (United States) 35 of 102
Year (2010) 3 of 4
Size (of disclosed) 33 of 56
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-01 NSL

Hyderabad, India

Nuziveedu Seeds (NSL) develops, produces and distributes hybrid seeds and is India's largest hybrid cotton seed company. NSL was formed in 1973 and is based in Hyderabad, India.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-21 China Animal Healthcare

Beijing, China

China Animal Healthcare Ltd. is a producer of animal healthcare products. Its products range from traditional chemical drugs in powder and injection forms, and biochemical drugs such as vaccines for swine fever, blue ear, and Hand-Foot-Mouth Diseases (“HFMD”).

Sell -
SELLER

Providence Equity Partners

Providence, Rhode Island, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1989
PE ASSETS 36.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Providence Equity Partners is a specialist private equity firm that targets investments in media, entertainment, communications, and information companies. Specifically, Providence seeks investments in wireless and wireline telephony, cable television content and distribution, music, film, publishing, radio and television broadcasting, and other media and communications sectors. Providence Equity looks to commit $150 million to $800 million of equity capital in transactions ranging from growth financings and recapitalizations, to buyouts and take-privates. Providence Equity Partners was formed in 1989 and has offices in Providence, Rhode Island; New York, New York; Los Angeles, California; London, United Kingdom; Hong Kong, China; and New Delhi, India.

DEAL STATS #
Overall 22 of 98
Sector (Media) 8 of 21
Type (Add-on Acquisition) 10 of 40
State (New York) 2 of 9
Country (United States) 14 of 67
Year (2010) 3 of 3
Size (of disclosed) 15 of 35
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-11-03 MGM

Beverly Hills, California, United States

MGM is an entertainment company focused on the production and global distribution of film and television content across all platforms. The company owns one of the world’s deepest libraries of premium film and television content.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-01 VI

Mumbai, India

VI provides pan India Voice and Data services across 2G, 3G and 4G platform. The Company is developing infrastructure to introduce newer and smarter technologies, making both retail and enterprise customers future ready with innovative offerings, conveniently accessible through an ecosystem of digital channels as well as extensive on-ground presence. VI was founded in 1995 and is based in Mumbai, India.

Sell -
Mergr

Product

Company

Legal