& cplSiteName &
Comments
Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
angelarichard
50%
50%
angelarichard,
User Rank: Light Beer
1/16/2018 | 12:05:27 AM
Excellent Post
Excellent post. Way of presentation is superb. I liked it a lot. Thanks for sharing this valuable post. 
2mail2jburton@optonline.net
50%
50%
2mail2jburton@optonline.net,
User Rank: Blogger
1/12/2018 | 3:10:22 PM
Clarification
ATS serves all accounts and services, not just commercial. 
brooks7
100%
0%
brooks7,
User Rank: Light Sabre
1/12/2018 | 12:30:48 PM
Re: Spinhole
 

Well, according to the S-1 filed Altice USA loses money from operations right now.  The weird thing is they come up with this thing called "Adjusted EBITDA" and define it.

Here is the thing:  Much of the stuff they take out of the Adjusted EBITDA has nothing to do with EBITDA.  For example, 2 of the biggest line items in the calculation are the adding back of about $3.3B in Depreciation, Amortization and Interest.  But EBDITA should exclude all of this stuff anyway.

So, the way I read this is that they have this really complex way of trying to make themselves look good.  They go straight to a terrible bottom line and then say "well let's go back to EBITDA and it all looks wonderful."  Without a balance sheet and a cash flow statement, the whole thing is a bit iffy.

Note as well, they plan on sending a boatload of the cash to the European sub.  I would have to some work pre and post transaction, but I have no idea what the balance sheet looks like post-transaction.  I wouldn't touch it until I did.

Just my quick read.

seven

 
mendyk
50%
50%
mendyk,
User Rank: Light Sabre
1/12/2018 | 10:22:01 AM
Re: Spinhole
Cablevision (aka Optimum) -- a pretty big player in the Northeast -- was the bigger play in the Altice "strategy." Even smallish cable operators generate profits -- which may be a 20th century metric. But apparently those profits are not enough to cover the debt burden created by the strategy.
Gabriel Brown
50%
50%
Gabriel Brown,
User Rank: Light Sabre
1/12/2018 | 10:14:59 AM
Re: Spinhole
Even so, a French challenger operator acquiring a subscale MSO in Mid West America seems a stretch. It seems the intent was part financial engineering, and part to get a toe-hold in the U.S. The second part, at least, doesn't appear to be working that well.
mendyk
50%
50%
mendyk,
User Rank: Light Sabre
1/12/2018 | 10:06:30 AM
Re: Spinhole
Growth through acquistion, as we know, is a common "strategy" for business success. The trick to making it work is to keep at least a half-step ahead of the debt that builds up in pursuit of this strategy. But if that debt catches up, the strategy falls apart.
Gabriel Brown
50%
50%
Gabriel Brown,
User Rank: Light Sabre
1/12/2018 | 9:54:54 AM
Re: Spinhole
The thing that confuses me most -- and I'm not that close to this topic -- is why did Altice buy a US cable operator in the first place
mendyk
50%
50%
mendyk,
User Rank: Light Sabre
1/12/2018 | 9:30:53 AM
Spinhole
Happy talk aside -- though hats must be tipped for the "focus on delivering best-in-class returns" comment -- this sounds like a mess.


Featured Video
Flash Poll
From The Founder
After almost two decades at Light Reading, it's time for a different optical adventure.
Upcoming Live Events
September 24-26, 2018, Westin Westminster, Denver
October 9, 2018, The Westin Times Square, New York
October 23, 2018, Georgia World Congress Centre, Atlanta, GA
November 6, 2018, London, United Kingdom
November 7-8, 2018, London, United Kingdom
November 8, 2018, The Montcalm by Marble Arch, London
November 15, 2018, The Westin Times Square, New York
December 4-6, 2018, Lisbon, Portugal
March 12-14, 2019, Denver, Colorado
All Upcoming Live Events
Hot Topics
Apple: It's the End of the SIM as We Know It
Iain Morris, International Editor, 9/13/2018
MWCA Day 2 Recap: '5G' Rolls Out & We Roll On
Phil Harvey, US News Editor, 9/14/2018
The Mobile Network Is Becoming a Cloud Service
Phil Harvey, US News Editor, 9/18/2018
MWCA Day 1 Recap: 5G Is Here…?
Phil Harvey, US News Editor, 9/13/2018
So Long, & Good Luck With That
Steve Saunders, Founder, Light Reading, 9/14/2018
Animals with Phones
Live Digital Audio

A CSP's digital transformation involves so much more than technology. Crucial – and often most challenging – is the cultural transformation that goes along with it. As Sigma's Chief Technology Officer, Catherine Michel has extensive experience with technology as she leads the company's entire product portfolio and strategy. But she's also no stranger to merging technology and culture, having taken a company — Tribold — from inception to acquisition (by Sigma in 2013), and she continues to advise service providers on how to drive their own transformations. This impressive female leader and vocal advocate for other women in the industry will join Women in Comms for a live radio show to discuss all things digital transformation, including the cultural transformation that goes along with it.

Like Us on Facebook
Partner Perspectives - content from our sponsors
One Size Doesn't Fit All – Another Look at Automation for 5G
By Stawan Kadepurkar, Business Head & EVP, Hi-Tech, L&T Technology Services
Prepare Now for the 5G Monetization Opportunity
By Yathish Nagavalli, Chief Enterprise Architect, Huawei Software
Huawei Mobile Money: Improving Lives and Accelerating Economic Growth
By Ian Martin Ravenscroft, Vice President of BSS Solutions, Huawei
Dealer Agent Cloud – Empower Your Dealer & Agent to Excel
By Natalie Dorothy Scopelitis, Director of Digital Transformation, Huawei Software
All Partner Perspectives