David P. Willis

Asbury Park Press

New Jersey's regulators on Wednesday approved the $17.7 billion takeover of Cablevision Systems by France's Altice, a deal that comes with some goodies for Cablevision's customers in the state.

Last fall, Altice, a French telecommunications company, said it would acquire Cablevision Systems, New Jersey's second-largest cable provider. Second to Comcast at the Jersey Shore, Cablevision, which had 893,885 customers in the Garden State as of 2013, provides service to 35 towns in Monmouth and Ocean counties.

On Wednesday, the New Jersey Board of Public Utilities gave its OK, following earlier approvals by the U.S. Justice Department and the Federal Communications Commission. The New York Public Service Commission has not yet voted on the deal. Altice said it expects to complete the merger in the second quarter.

"Altice is pleased with the approval order by the New Jersey Board of Public Utilities for the acquisition of Cablevision, which recognizes the benefits that the proposed merger will bring to consumers in New Jersey," Altice said in a statement.

The board, along with the New Jersey Division of Rate Counsel which represents consumers, hammered out a deal with the two companies that it says will provide job protections and improved services for customers, including faster Internet broadband speeds.

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"The board is confident that the settlement will provide current customers many network improvements and upgrades, as well as ensure adequate levels of customer service are maintained," said BPU President Richard S. Mroz in a statement. "The agreement also protects most current Cablevision employees and creates a low-income broadband service that will benefit certain seniors and homes with school-aged children."

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Here are some of the highlights. The agreements says:

Cablevision will not cut the number of jobs of employees who interact with customers, including those at customer service centers and the Newark call center, for two years.

Broadband service to all existing customer locations will be upgraded to 300 megabits per second no later than Dec. 31, 2017.

Cablevision will offer low-income broadband service with speeds of up to 30 megabits per second with no data cap, modem fee or charge for self-installation within 15 months of the merger closing.

Cablevision will increase the download speeds of its existing $24.95 low-cost broadband service, offering from 5 megabits to 10 megabits per second within 120 days of the merger's closing, an offer that will last for two years.

The company will offer a broadband product without a data cap for three years.

In the event of an active and qualifying state of emergency, Cablevision will provide emergency Wi-Fi for everyone, hyperlocal news and weather for all residents, partner with utilities to speed power restoration, backup customer support, enhanced network resiliency, backup powering and a storm readiness communications plan.

"We think the settlement's provisions ensure that the merger will bring positive benefits to New Jersey customers," said Stefanie Brand, director of the state Division of Rate Counsel. "The company has agreed to maintain jobs and enhance reliability and resiliency while ensuring that customers continue to have access to good service at reasonable rates."

David P. Willis: 732-643-4039; dwillis@gannettnj.com; facebook.com/dpwillis732

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