The Communications Workers of America (CWA) said it will testify against the planned merger of Europe's Altice NV and Cablevision (NYSE: CVC) at upcoming hearings by New York's state Public Service Commission (PSC).
"Altice's potential acquisition of Cablevision would be detrimental to the company, its workforce and its customers," said Dennis Trainor, spokesman for Workers of America District 1. "Given its track record in other business dealings in France and Portugal, the future of Cablevision under Altice's proposed deal would mean customers will get worse service and employees will lose their jobs. The PSC should reject the deal as currently proposed to protect customer service and jobs."
In a statement to FierceCable, Altice said: "We look forward to a fair and open regulatory process with the relevant authorities in connection with our proposed Cablevision transaction, and as in all of our other territories we expect to deliver significant benefits to consumers and their communities in the Tri-state area."
Cablevision recently had a tumultuous relationship with the union, which has been tied to numerous complaints against the MSO by the National Labor Relations Board.
Last month, the CWA filed objections with the FCC, noting that the $8.6 billion in debt Altice will take on as part of the deal -- which will be added to about $5.9 billion worth of Cablevision debt -- will lead to outsourcing of Cablevision jobs.
Altice did promise shareholders that it would institute $1.05 billion worth of operational cuts once it acquires Cablevision.
The hearings are set to take place starting Tuesday in Long Island, the Hudson Valley and the Bronx. The CWA included a full schedule for these events in its statement.
For more:
- read this CWA statement
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