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Photo: Andrew Regam / Getty Images

Europe's Altice NV said Tuesday that it will spin-off its U.S. unit, which owns both Cablevision and Suddenlink.

Why it matters: Because Altice USA went public last summer, largely to give it a public currency to make acquisitions. But those ambitions have been slowed by its parent company's balance sheet brambles, and today's move could finally clear its path.

More deal details: Prior to the divestiture, Altice USA will pay a $1.5 billion dividend to its (about to be former) parent company. The actual spin is expected to close by ther end of Q2, with Altice NV distributing its 67% stake in Altice USA to Altice USA shareholders.

Bottom line: "The split lets Altice USA continue on its expansion path unfettered by its parent company’s struggles in Europe, where [founder Patrick] Drahi is seeking to appease investors worried about group debt that tops $50 billion. The billionaire has indicated he’d like to participate in consolidation in the U.S. pay-TV market and perhaps enter the wireless business there." — Bloomberg

Go deeper

CDC lets child migrant shelters fill to 100% despite COVID concern

Intensive care tents at overflow shelter in Carrizo Springs, Texas. Photo: Sergio Flores/The Washington Post via Getty Images

The Centers for Disease Control is allowing shelters handling child migrants who cross the U.S.-Mexico border to expand to full capacity, abandoning a requirement that they stay near 50% to inhibit the spread of the coronavirus, Axios has learned.

Why it matters: The fact that the country's premier health advisory agency is permitting a change in COVID-19 protocols indicates the scale of the immigration crisis. A draft memo obtained by Axios conceded "facilities should plan for and expect to have COVID-19 cases."

8 Senate Democrats vote against adding $15 minimum wage to COVID relief

Photo: Stefani Reynolds/Bloomberg via Getty Images

Eight Democratic senators on Friday voted against Sen. Bernie Sanders' amendment to ignore a ruling by the Senate parliamentarian and add a $15 minimum wage provision to the $1.9 trillion COVID relief package.

The state of play: The vote was held open for hours on Friday afternoon — even after every senator had voted — due to a standoff in negotiations over the next amendments that the Senate will take up.

CDC: Easing mask mandates led to higher COVID cases and deaths

Customer at a supermarket chain in Austin, Texas. Montinique Monroe/Getty Images

Easing mask restrictions and on-site dining have increased COVID-19 cases and deaths, according to a study out Friday from the Centers for Disease Control and Prevention.

Why it matters: The report's findings converge with actions from governors this week easing mask mandates and announcing plans to reopen nonessential businesses like restaurants.

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