The $1.365 billion deal for Cablevision to buy Bresnan Communications has been officially filed with the Federal Communications Commission. In fact, it was filed last month, but the FCC has now assigned a docket number and set deadlines for comments on the proposed cable merger.
Media Bureau Docket No. 10-154 will consider whether the FCC should grant the applications to transfer the various Bresnan licenses to Cablevision.
“The Applicants contend that the proposed transaction will serve the public interest. They state that the proposed transaction poses no competitive issues because it will not result in the expansion of existing geographic clusters and because the companies operate in separate geographic areas of the country. In addition, the Applicants state that the transaction will enhance the value, products, and services within Bresnan’s service areas. Specifically, they assert that the transaction will provide increased investment in the Bresnan system resulting in better value for consumers at more competitive prices,” the FCC said in announcing the pleading cycle. Comments on the transaction are due September 13th and reply comments on September 28th.
“Cablevision, a Delaware corporation, is majority-owned by a group comprised of Charles F. Dolan and his family, who collectively own a 69.5% voting interest in Cablevision. Cablevision is a facilities-based provider of bundled video, voice, and broadband Internet services in New York, New Jersey, and Connecticut. It provides basic video service to approximately 3.1 million subscribers, voice service to approximately 2.1 million residential and small business customers, and broadband service to approximately 2.6 million customers,” the FCC announcement stated.
“Bresnan is a cable provider serving 300,000 subscribers in 148 communities in Colorado, Utah, Montana, and Wyoming. Bresnan also provides voice service to 126,000 subscribers and broadband service to 220,000 subscribers,” said the FCC description.