Over the past 18 months, through a series of acquisitions, Altice has become a major player in the global pay TV market, moving up to command 3.1% of global pay TV revenue. It joins only a handful of entities which now control close to 50% of the global pay TV revenue. US consolidation has added to the concentration of revenue with AT&T's acquisition of DirecTV giving the telco the greatest proportion of global pay TV revenue at 18% whilst also overtaking Comcast (which has 9.3%) as US pay TV leader. In second place at 9.5% of global pay TV revenue are the entities controlled directly or indirectly by John Malone - this includes Liberty Global assets and the potential addition of Charter, Time Warner Cable and Bright House, pending the closure of the impending merger. Another industry veteran, Rupert Murdoch also controls a significant portion of global pay TV revenue at 7% through his directly or indirectly controlled companies which include Sky Europe as well as assets in Australia and India. We outline their positions and strategies in our latest report.