Cablevision’s New Owner Looking To Make Changes
Just after announcing his plans to acquire Cablevison by French owned Altice, CEO Patrick Drahi announced at a Goldman Sachs investor conference he's looking to make changes and cuts to the company. "I like to pay as little as I can," he said to the investors and "It's not about how many customers you have, it's about how much money you make." He wants to bring European cost structures to the U.S. cable industry. The traditional cable bundle is under attack, as streaming services from Netflix, Youtube, Hulu and many others are digging in to cable's bottom line. "There's at least $300 million in corporate overhead that can immediately be deleted," one conference attendee said. Drahi said a no-frills management philosophy that…