If the $17.7 billion deal goes through as expected, the European-based company could become the fourth largest cable provider in the U.S. What the future holds for Newsday and News 12 Long Island remains unclear.
Officials smashed a wall with sledgehammers to celebrate the start of the work.
The European company also struck a deal to buy Newsday, News12 and amNewYork.
The deal, of which the financial terms are still being negotiated, is intended to cement the premium content providers in a more formidable arrangement, cut overhead costs and let AMC leverage advertising and distribution to their mutual benefit.
Recent Comcast-Charter deal suggests that Cablevision is off the table—for now.
On March 31, 2014, U.S. District Court Judge Joanna Seybert ruled in favor of the plaintiffs’ motion for class certification.