Altice USA Sues Apollo, Ares, BlackRock Over Cooperation Pact

Altice USA Inc. filed an antitrust lawsuit against some of its creditors, an opening salvo ahead of discussions to restructure its $26 billion debt pile.

Optimum Communications Inc. —Altice’s name following a rebranding earlier this month— on Tuesday filed a suit in federal court in New York against a group of creditors including Apollo Capital Management LP, Ares Management LLC and BlackRock Financial Management Inc., alleging that they worked together to freeze Optimum out of the US credit market.

The suit alleges that a cooperation agreement between the defendants binds “nearly every creditor holding Optimum’s debt” and bars ...