1 big thing: Ad growth slows

2. The BFD: HBO Max returns to Amazon Prime Video Channels

3. "Anti-sexy" esports

Illustration of a trophy knocked over with only a few pennies falling out. 

4. Deal flow

5. Movin' on up (or out)

6. Channel surfing

Illustration of a surfer with a television in the place of his head.

🗞️ Situational awareness: General Electric bought out the entire print edition of The New York Times today in a historic first, Sara Fischer writes. 

Plus: 🇨🇭Axios will be at the 2023 World Economic Forum in Davos. Want to attend one of our events? Request an invite here.

@tim_bays: Just gonna watch Brock Purdy highlights from Iowa State to get to know my new 49ers starting QB. 

@kerrymflynn: "The Assignment with Audie Cornish" on Apple Podcasts. The former NPR host is off to a great start with her new CNN podcast.

✏️ Thanks to George Moriarty for editing and Jay Bennett for copy editing this newsletter.

Thank you for reading Axios Pro Media Deals! Please ask your friends, colleagues and esports investors to sign up.

Media Deals

Verizon prepares for launch of streaming platform +play

1 big thing: Verizon's streaming aggregator coming soon

Illustration of a television test pattern made of hundred dollar bills.

2. The BFD: Have you seen SBF's Twitter stake?

Photo illustration of Sam Bankman-Fried with hair made out of Twitter logos. 

3. Charted: The five sports agency behemoths

Illustration of a pair of sunglasses with lenses that look like tv screens.

🗓️ Situational awareness: Follow Axios' Hope King for live updates from DealBook Summit today, featuring several media powerbrokers.

@kerrymflynn: "Christmas in Rockefeller Center" on NBC. 'Tis the season!

✏️ Thanks to George Moriarty for editing and Katie Lewis for copy editing this newsletter.

Thank you for reading Axios Pro Media Deals! Please ask your friends, colleagues and Verizon customers to sign up.

Media executives sound off on investments at DealBook

1 big thing: DealBook's top media insights

Illustration of two open briefcases facing each other with speech bubbles over them as if they're having a conversation. 

Cable provider Altice says it's no longer selling Suddenlink

2. The BFD: Altice keeps Suddenlink

In this photo illustration, the Suddenlink Communications logo is seen displayed on a smartphone screen and in the background.

3. Revealed: A marketer's Spotify Wrapped

Illustration of podcast symbol with headphones on and smiling

Illustration of a TV color test screen in the shape of a wave.

🍎 Situational awareness: "Republican lawmakers and some Tech CEOs are rallying behind Elon Musk's public attacks on Apple," Ashley Gold and Sara Fischer write.

🚚 And welcome to New York, Tim! Our Media Deals reporter has just about completed his return to the Big Apple from the City of Angels. 

@tim_bays:  The journey concludes! Officially a resident of the New York City Metropolitan Area again by the end of the day!

@kerrymflynn: "Archetypes" on Spotify. Meghan Markle's podcast keeps me sane on traffic-heavy drives to Connecticut. Loved the Paris Hilton episode.

✏️ Thanks to Michael Flaherty for editing and Katie Lewis for copy editing this newsletter.

Thank you for reading Axios Pro Media Deals! Please ask your friends, colleagues and #SpotifyWrapped sharers to sign up.

1. The 30-year deal

2. Jim Lanzone's new Yahoo

3. Yahoo's core  

Illustration of a newspaper being examined by a magnifying glass, revealing a checkmark 

4. Pearpop's boost for creators

5. Chart O' The Week

6. Media industry takeaways from DealBook 

Good morning, and happy Friday! Axios Pro editor Michael Flaherty here with the weekly digest, and this one features a close look at Yahoo, its deal this week and its transformation.

✏️ Thanks to Katie Lewis for copy editing this newsletter.

👓 Thank you for reading this week! Enjoy the weekend, and please ask your friends, colleagues and Jim Lanzone to sign up.

Sinclair's Diamond Sports names CEO to grow regional sports networks

1 big thing: Sinclair's RSNs enter new inning

Illustration of a television with soccer balls, basketballs, hockey pucks and lacrosse balls jammed inside. 

2. The BFD: Debt from Twitter financing

3. Deal flow

4. Movin' on up (or out)

5. Channel surfing

Illustration of a remote control in the shape of a surfboard leaning against a VW bus.

Situational awareness: Peacock has surpassed 18 million paid subscribers, NBCUniversal CEO Jeff Shell said this morning at UBS’ investor conference.

@tim_bays: "The White Lotus" on HBO. Lots of TV to catch up on now that my 12-day cross-country move is over and am still re-adjusting to actual cold weather. 

@kerrymflynn: "Violent Night" at AMC Theatres. I'm not into gore, but I'm willing to bear through it for David Harbour. 

✏️ Thanks to Michael Flaherty for editing and Jay Bennett for copy editing this newsletter.

Thank you for reading Axios Pro Media Deals! Please ask your friends, colleagues and Bally Sports viewers to sign up.

National

Closer

Axios Closer

Ben Affleck said Wednesday that the first project by his and Matt Damon's new production company Artists Equity, an upcoming movie about the Air Jordan brand, aligns with his business's mission.

Why it matters: The Hollywood duo is trying to change how the industry pays film crews, providing fair and equitable compensation to everyone involved while also making movies that are of high quality and have commercial appeal.

Driving the news: "It mirrors many of the themes that we're working with around the way we look at celebrities ... and about compensation and it's about the company having to come to terms with how it's going to compensate," Affleck said during the New York Times DealBook Summit. 

Catch up quick: Affleck and Damon announced earlier this month their new company, backed by a minimum of $100 million in financing from RedBird Capital.

Details: "I want to make the second act of my life to create a really meaningful, robust company that develops a new model that tells stories in a different way, prizes artists in a different way, including behind the camera," Affleck said at the DealBook Summit. "I just found the best partner in the world for that."

Affleck said that RedBird Capital Partners founder Gerry Cardinale, who he had met 25 years ago, was the first person he thought of when deciding to launch a new production company.

Founded in 2014, RedBird has backed Skydance Media, LeBron James' SpringHill Media and the YES Network, which Cardinale helped launch in 2002. 

"Not a lot of actors come my way because they're too scared," Cardinale said. "This is very familiar territory to me, Ben and Matt. They are entrepreneurs."

The big picture: The streaming era pushed a big demand for content that is now adapting to market pressures. The first wave of streaming, Cardinale said, was about volume, whereas now it's about quality. 

"Technologies and the disintermediation created some wonderful things. It's a great democratizer," Cardinale said. "We embrace it. Being independently capitalized enables us to go through those cracks and help be a catalyst for this evolution."

"My whole career I've been chasing that saying, 'Content is king.' I think today is the first time I'm starting to see the possibilities," Cardinale said.

When it comes to the theatrical model, Affleck spoke about how he saw the power of streaming when his movie "The Way Back" premiered in March 2020. It struggled in theaters, given the pandemic leading to closures, but then shined on streaming. 

"Different platforms are suitable for different entertainment," Affleck said. "We're going to have to be flexible and adapt." 

What to watch: Artists Equity previously said it plans to release three projects in 2023.

Of note: Affleck said he doesn't scroll on social media. "I just don't want to see myself come up, like, dropping a box of donuts," he said.

Ben Affleck pitches Artists Equity as "new model" to reward creators

Affleck said his new film about Air Jordan aligns with the mission.

 Ben Affleck attends "The Last Duel" New York Premiere on October 09, 2021 in New York City.

Ben Affleck at the "The Last Duel" New York premiere on Oct. 9, 2021, in New York. Photo: Arturo Holmes/Getty Images

Hollywood

Media

Ben Affleck said Wednesday that the first project by his and Matt Damon&#x27;s new production company <a class="gtmContentClick" data-vars-link-text="Artists Equity" data-vars-click-url="https://www.axios.com/pro/media-deals/2022/11/21/artists-equity-damon-affleck-redbird" data-vars-content-id="256c3f81-83cc-4c72-ad6c-820d162ee86e" data-vars-headline="Ben Affleck pitches Artists Equity as &quot;new model&quot; to reward creators" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/pro/media-deals/2022/11/21/artists-equity-damon-affleck-redbird" target="_self">Artists Equity</a>, an upcoming movie about the Air Jordan brand, aligns with his business&#x27;s mission.Why it matters: The Hollywood duo is trying to change how the industry pays film crews, providing fair and equitable compensation to everyone involved while also making movies that are of high quality and have commercial appeal.

After a record economic expansion, the coronavirus pandemic sent the U.S. economy into a recession as unemployment soared to staggering heights. The country now faces urgent questions about how much stimulus is needed for reeling consumers and businesses, and what a recovery might look like.

Economy & Business

While disgraced FTX CEO Sam Bankman-Fried took the top billing of this year's DealBook Summit, the rest of the day was filled with media powerbrokers.

Why it matters: The executives (and one actor) shared how they're launching new businesses, adapting their companies to the current market conditions or making up for their own mistakes.

Ben Affleck touts 25-year friendship with RedBird's Gerry Cardinale

"I want to make the second act of my life to create a really meaningful, robust company that develops a new model that tells stories in a different way, prizes artists in a different way, including behind the camera. I just found the best partner in the world for that."

Amazon CEO Andy Jassy wants more sports on Prime Video

"I do think over time we have opportunities to make our Prime Video business a standalone business that has very attractive economics. We have a lot of video on demand, and we have a channels program."

"I think you'll continue to see us investing in sports. I mean, sports is such a unique asset. If you look every year at the most watched programs, sports often occupies 75% of the spots and they drive live engagement and they drive Prime subscriptions."

Meta CEO Mark Zuckerberg says Apple's policies are not "sustainable"

"I do think Apple has sort of singled themselves out as the only company that is trying to control, unilaterally, what apps get on the device and I don't think that's a sustainable or a good place to be."

Netflix co-CEO Reed Hastings wishes he introduced ads sooner

"I didn't believe in the ad-supported tactic for us, and I was wrong about that. Hulu really proved that you could do that at scale and offer consumer lower prices and that that was a better model. So we did switch on that, and credit to Hulu and Jason Kilar for figuring that out, and I wish we had flipped a few years earlier on it."

TikTok CEO Shou Chew is not so hot on metaverse investments 

"I think that technology is fascinating and you can imagine interesting and useful use cases in the metaverse. But at the same time, where we are in terms of the adoption curve is so early that I think we need to proportionally give it that sort of weight in terms of investment."

"I think you'll continue to see us investing in sports," said Amazon CEO Andy Jassy.

Media deals

While disgraced FTX CEO <a class="gtmContentClick" data-vars-link-text="Sam Bankman-Fried" data-vars-click-url="https://www.axios.com/2022/12/01/sam-bankman-fried-says-he-didnt-knowingly-commingle-funds" data-vars-content-id="260bccbe-de10-4165-bf59-8f3730afaee7" data-vars-headline="Media executives sound off on investments at DealBook" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2022/12/01/sam-bankman-fried-says-he-didnt-knowingly-commingle-funds" target="_self">Sam Bankman-Fried</a> took the top billing of this year&#x27;s DealBook Summit, the rest of the day was filled with media powerbrokers.Why it matters: The executives (and one actor) shared how they&#x27;re launching new businesses, adapting their companies to the current market conditions or making up for their own mistakes.

Diamond Sports Group, a subsidiary of Sinclair Broadcast Group that operates its regional Bally Sports networks, has named former NBC Sports executive David Preschlack as its CEO.

Why it matters: The appointment creates more independence for the division, which has been dragged down by debt. Regional sports networks have struggled from subscriber losses due to cord-cutting and the rising costs of broadcasting rights. New leadership will be tasked with changing that fate.

Catch up quick: Sinclair acquired 21 RSNs from Disney for $10.6 billion in 2019, which included taking on $8.2 billion in debt. 

Details: Preschlack, who joined Diamond's board in May 2022, is well-versed in RSNs. He served as president of NBC Sports Regional Networks from 2016 to 2021. He had spent 20 years at Disney and ESPN. 

“Consistent with the financing completed in March of this year and the company's deconsolidation, DSG will establish its independence moving forward under David's leadership," Sinclair CEO Chris Ripley said in a statement Monday.

The CEO news comes after the board of Diamond Sports Group voted to block Sinclair from continuing to manage the RSNs, Sportico first reported Sunday night.

What's next: Ripley said on the company's earnings call last week that LionTree and Moelis & Co. were hired as advisors, confirming August reports. 

"There is no sale process, but they are talking to parties about deleveraging, strategic partnerships and things of that nature," he said. 

David Preschlack previously managed RSNs at NBC Sports.

Sinclair Broadcasting Group

Diamond Sports Group, a subsidiary of <a class="gtmContentClick" data-vars-link-text="Sinclair Broadcast Group" data-vars-click-url="https://www.axios.com/pro/media-deals/2022/04/29/sinclair-ceo-chris-ripley" data-vars-content-id="2b993dfc-fea6-4966-bb98-874d119cff9a" data-vars-headline="Sinclair&#x27;s Diamond Sports names CEO to grow regional sports networks" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/pro/media-deals/2022/04/29/sinclair-ceo-chris-ripley" target="_self">Sinclair Broadcast Group</a> that operates its regional Bally Sports networks, has named former NBC Sports executive David Preschlack as its CEO.Why it matters: The <a class="gtmContentClick" data-vars-link-text="appointment" data-vars-click-url="https://www.businesswire.com/news/home/20221204005058/en/Diamond-Sports-Group-Appoints-David-Preschlack-as-Chief-Executive-Officer" data-vars-content-id="2b993dfc-fea6-4966-bb98-874d119cff9a" data-vars-headline="Sinclair&#x27;s Diamond Sports names CEO to grow regional sports networks" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.businesswire.com/news/home/20221204005058/en/Diamond-Sports-Group-Appoints-David-Preschlack-as-Chief-Executive-Officer" target="_blank">appointment</a> creates more independence for the division, which has been dragged down by debt. Regional sports networks have struggled from subscriber losses due to cord-cutting and the <a class="gtmContentClick" data-vars-link-text="rising costs of broadcasting rights" data-vars-click-url="https://www.axios.com/pro/media-deals/2022/05/10/cost-of-tv-sports-grows-as-pay-tv-bundle-breaks" data-vars-content-id="2b993dfc-fea6-4966-bb98-874d119cff9a" data-vars-headline="Sinclair&#x27;s Diamond Sports names CEO to grow regional sports networks" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/pro/media-deals/2022/05/10/cost-of-tv-sports-grows-as-pay-tv-bundle-breaks" target="_self">rising costs of broadcasting rights</a>. New leadership will be tasked with changing that fate.

Media Trends

Axios Media Trends

Data: GroupM; Note: U.S. includes political advertising; Chart: Tory Lysik/Axios Visuals

Growth in global ad spending is going to be slower next year than originally anticipated, according to two new forecasts, a troubling sign for media and tech firms that rely on advertising to fuel their businesses.

Why it matters: Much of the slowdown is driven by economic uncertainty, rather than true economic indicators that would cause an advertising recession.

The ad market slowdown has caused a slew of U.S. companies to implement drastic cost-cutting measures, including sweeping layoffs.

Details: Growth in global ad spend is expected to slow to about 5.9% next year, according to media buying firm GroupM, down from 6.4% estimated in June.

Magna, a unit of Interpublic Group's Mediabrands, also reduced its forecast slightly. It predicted global ad revenue will grow 4.8% in 2023, down from 6.3% it had reported in June.

Between the lines: Inflation and various macroeconomic factors impacting the world's biggest ad markets are largely to blame.

In the U.S. — the world's largest ad market by far — inflation remains high, but recession indicators like high unemployment rates are absent. That's caused uncertainty, prompting ad budget cuts.

In China — the second-largest ad market — COVID lockdowns continue to deter its economy, and in turn, ad spend. In 2022, GroupM expects the Chinese ad market to shrink by 0.6% and then grow by 6.3% in 2023. That's down from previous estimates of 10% growth in December 2021 and then 3.3% in June.

European countries like Germany, France and the U.K. have seen declines in TV advertising. GroupM updated its June estimates from positive growth to now a decline, citing the war in Ukraine.

Yes, but: Factors contributing to economic uncertainty appear at odds with some of the broader economic progress, GroupM notes, which could provide some optimism amid the bleak advertising outlook.

While GroupM downgraded estimates in 31 of the markets it tracks, it increased forecasts for 21 markets and made no changes in the other 10, said Kate Scott-Dawkins, global director of business intelligence at GroupM.

"I assume some of that is inflation driven, but some others saw better results for the year than they had expected," Scott-Dawkins said. "We have heard from some of the largest advertisers that they are planning to increase marketing investment rather than reduce."

Certain sectors are doing well. GroupM updated its September forecast for retail media's 2022 revenue from $101 billion to $110.7 billion, and it expects connected TV to grow double digits over the next four years. The formation of new businesses is also driving more ad spending.

Be smart: An element of maturation among some of the world's biggest tech firms also could explain the deceleration in ad growth, GroupM said.

"When capital was very cheap and interest rates were low" some companies spent upwards of 50% on advertising or even more than 100% in a given quarter, Scott-Dawkins said, but that's now decelerated or even declined as interest rates climb.

"A real theme as we go into the end of the year is that normalization ... to just how strong Q2 and Q3 were in 2021," Scott-Dawkins said. "I think once we lap that and get into next year, we're looking to see more normalized growth rates."

The big picture: Not all advertisers respond equally to economic uncertainty. 

Consumer packaged goods companies and financial firms may slow down marketing spending next year, Magna said, whereas entertainment, travel and betting will continue to grow.

"Automotive is a big question mark due to the uncertainty in macroeconomic environment and supply issues, but Magna believes ad spend will finally start to recover in 2023," the report said.

Editor's note: This story has been corrected to say GroupM expects the Chinese ad market to shrink by 0.6% in 2022, not 0.06%.

Ad growth expected to slow further in 2023

The slowdown has caused a slew of U.S. companies to implement drastic cost-cutting measures, including layoffs.

Advertising

Percentage change in ad growth annually from 2000 to 2023, with 2023 projected.

Growth in global ad spending is going to be slower next year than originally anticipated, according to two new forecasts, a <a class="gtmContentClick" data-vars-link-text="troubling sign" data-vars-click-url="https://www.axios.com/2022/07/26/ad-market-slowdown-media-tech" data-vars-item="in_content_link" href="https://www.axios.com/2022/07/26/ad-market-slowdown-media-tech" target="_self">troubling sign</a> for media and tech firms that rely on advertising to fuel their businesses.Why it matters: Much of the slowdown is driven by economic uncertainty, rather than true economic indicators that would cause an advertising recession.

Altice is no longer pursuing a sale of its regional telecom subsidiary Suddenlink, the company announced Thursday.

Why it matters: Despite initial interest in a sale that could have helped alleviate Altice's debt load, the lack of a deal comes amid a tough market.

Catch up quick: Altice confirmed in August it was shopping Suddenlink after receiving interest from suitors. Bloomberg, which first reported the sale talks, estimated it could be worth around $20 billion.

Altice acquired Suddenlink for $9.1 billion in 2015. 

Details: Altice said Thursday that its board "has unanimously determined that continuing to operate Suddenlink and pursuing the company's long-term business plan represents the best path forward for Altice USA and its stockholders."

CEO Dexter Goei noted in May that Suddenlink's footprint may not be the best fit for Altice. But the size and price may have deterred potential buyers like Comcast or a private equity buyer. 

Altice's stock was down about 9% Thursday at 10:45am ET.

Of note: Altice announced a rebrand of Suddenlink to Optimum in August. 

The cable provider acquired Suddenlink for $9.1 billion in 2015.

Photo: Pavlo Gonchar/SOPA Images/LightRocket via Getty Images

Telecom

Altice is no longer pursuing a sale of its regional telecom subsidiary <a class="gtmContentClick" data-vars-link-text="Suddenlink" data-vars-click-url="https://www.axios.com/pro/media-deals/2022/07/22/altice-usa-looks-to-offload-suddenlink" data-vars-content-id="74c7ce8b-f703-4d06-ab34-bd5216d943db" data-vars-headline="Cable provider Altice says it&#x27;s no longer selling Suddenlink" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/pro/media-deals/2022/07/22/altice-usa-looks-to-offload-suddenlink" target="_self">Suddenlink</a>, the company announced Thursday.Why it matters: Despite initial interest in a sale that could have helped alleviate Altice&#x27;s debt load, the lack of a deal comes amid a tough market.Catch up quick: Altice <a class="gtmContentClick" data-vars-link-text="confirmed" data-vars-click-url="https://link.axios.com/click/28612455.1484/aHR0cHM6Ly93d3cuaG9sbHl3b29kcmVwb3J0ZXIuY29tL2J1c2luZXNzL2J1c2luZXNzLW5ld3MvYWx0aWNlLXVzYS1zdWRkZW5saW5rLXNhbGUtMTIzNTE4NTU4NC8_dXRtX3NvdXJjZT1uZXdzbGV0dGVyJnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPXByb19kZWFsc19tZWRpYV9zdWJzJnN0cmVhbT10b3A/61cdcf416a87007cf797c7fcBb49cb2e5/email" data-vars-content-id="74c7ce8b-f703-4d06-ab34-bd5216d943db" data-vars-headline="Cable provider Altice says it&#x27;s no longer selling Suddenlink" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://link.axios.com/click/28612455.1484/aHR0cHM6Ly93d3cuaG9sbHl3b29kcmVwb3J0ZXIuY29tL2J1c2luZXNzL2J1c2luZXNzLW5ld3MvYWx0aWNlLXVzYS1zdWRkZW5saW5rLXNhbGUtMTIzNTE4NTU4NC8_dXRtX3NvdXJjZT1uZXdzbGV0dGVyJnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPXByb19kZWFsc19tZWRpYV9zdWJzJnN0cmVhbT10b3A/61cdcf416a87007cf797c7fcBb49cb2e5/email" target="_blank">confirmed</a> in August it was shopping Suddenlink after receiving interest from suitors. Bloomberg, which first reported the sale talks, <a class="gtmContentClick" data-vars-link-text="estimated" data-vars-click-url="https://www.bloomberg.com/news/articles/2022-07-21/altice-usa-said-to-weigh-suddenlink-sale-for-up-to-20-billion" data-vars-content-id="74c7ce8b-f703-4d06-ab34-bd5216d943db" data-vars-headline="Cable provider Altice says it&#x27;s no longer selling Suddenlink" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.bloomberg.com/news/articles/2022-07-21/altice-usa-said-to-weigh-suddenlink-sale-for-up-to-20-billion" target="_blank">estimated</a> it could be worth around $20 billion.<ul><li>Altice <a class="gtmContentClick" data-vars-link-text="acquired" data-vars-click-url="https://www.bloomberg.com/news/articles/2015-05-19/altice-said-to-seek-purchase-of-suddenlink-in-u-s-expansion" data-vars-content-id="74c7ce8b-f703-4d06-ab34-bd5216d943db" data-vars-headline="Cable provider Altice says it&#x27;s no longer selling Suddenlink" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.bloomberg.com/news/articles/2015-05-19/altice-said-to-seek-purchase-of-suddenlink-in-u-s-expansion" target="_blank">acquired</a> Suddenlink for $9.1 billion in 2015. </li></ul>Details: Altice <a class="gtmContentClick" data-vars-link-text="said" data-vars-click-url="https://www.businesswire.com/news/home/20221130006207/en/Altice-USA-Concludes-Its-Review-of-Strategic-Alternatives-for-Suddenlink-Business" data-vars-content-id="74c7ce8b-f703-4d06-ab34-bd5216d943db" data-vars-headline="Cable provider Altice says it&#x27;s no longer selling Suddenlink" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.businesswire.com/news/home/20221130006207/en/Altice-USA-Concludes-Its-Review-of-Strategic-Alternatives-for-Suddenlink-Business" target="_blank">said</a> Thursday that its board &quot;has unanimously determined that continuing to operate Suddenlink and pursuing the company&#x27;s long-term business plan represents the best path forward for Altice USA and its stockholders.&quot;<ul><li>CEO Dexter Goei <a class="gtmContentClick" data-vars-link-text="noted" data-vars-click-url="https://www.fiercetelecom.com/broadband/altice-rumored-shop-suddenlink-who-would-buy-it" data-vars-content-id="74c7ce8b-f703-4d06-ab34-bd5216d943db" data-vars-headline="Cable provider Altice says it&#x27;s no longer selling Suddenlink" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.fiercetelecom.com/broadband/altice-rumored-shop-suddenlink-who-would-buy-it" target="_blank">noted</a> in May that Suddenlink&#x27;s footprint may not be the best fit for Altice. But the size and price may have deterred potential buyers like <a class="gtmContentClick" data-vars-link-text="Comcast" data-vars-click-url="https://www.cnbc.com/2022/11/03/charter-ceo-tom-rutlege-says-pain-to-come-as-tv-gives-way-to-streaming.html" data-vars-content-id="74c7ce8b-f703-4d06-ab34-bd5216d943db" data-vars-headline="Cable provider Altice says it&#x27;s no longer selling Suddenlink" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.cnbc.com/2022/11/03/charter-ceo-tom-rutlege-says-pain-to-come-as-tv-gives-way-to-streaming.html" target="_blank">Comcast</a> or a private equity buyer. </li><li>Altice&#x27;s stock was down about 9% Thursday at 10:45am ET.</li></ul>Of note: Altice <a class="gtmContentClick" data-vars-link-text="announced" data-vars-click-url="https://www.alticeusa.com/news/suddenlink-now-optimum" data-vars-content-id="74c7ce8b-f703-4d06-ab34-bd5216d943db" data-vars-headline="Cable provider Altice says it&#x27;s no longer selling Suddenlink" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.alticeusa.com/news/suddenlink-now-optimum" target="_blank">announced</a> a rebrand of Suddenlink to Optimum in August.

Kerry Flynn

Stories

Ad growth expected to slow further in 2023

Sinclair's Diamond Sports names CEO to grow regional sports networks

Cable provider Altice says it's no longer selling Suddenlink

Media executives sound off on investments at DealBook

Ben Affleck pitches Artists Equity as "new model" to reward creators

Newsletter editions

⛈ Media: Troubling forecasts

Media: Twitter's stuck debt

Media: 🗞 Catch up quick

Media: Heavys weigh in

Media: 📺 Verizon's media play