In the transactions, AT&T received cable systems serving 358,000 subscribers in Boston and Eastern Massachusetts. In return, Cablevision acquired systems serving approximately 130,000 subscribers in the northern New York suburbs, and approximately $870 million in stock, or 44 million shares of AT&T common stock, and approximately $300 million in cash.
With the completion of the transaction, the Boston-area system forms AT&T’s largest cluster, passing approximately 3.5 million homes and serving nearly 2 million customers.
Cablevision acquired AT&T cable systems (operated formerly by MediaOne) in Westchester, Rockland, Putnam, Orange, Ulster and Dutchess counties in New York in the exchange transaction. With the completion of the transaction, Cablevision’s New York-area cluster now passes more than 4 million homes and serves approximately 3 million households in New York, New Jersey and Connecticut, the nation’s largest cable system cluster.
