Time Warner Cable Will buy Insight Communications Co. for $3 billion in Cash

By on Aug 15, 2011 in Business, United States Comments

Time Warner Cable logo
Image Credit: TimeWarnerCable.com

NEW YORK  — Time Warner Cable, announced through their press release dated Monday, August 15,2011, that they will buy Insight Communications Co. for $3 billion in cash, in an aim to increase their presence in the Midwest.

Insight Communications Co, owned by The Carlyle Group, Crestview Partners, MidOcean Partners, is a full service telecommunications company providing phone, high-speed Internet and video services to more than 750,000 customers in the Midwest.

Time Warner Cable Inc., a cable operator that serves customers based in Indiana, Kentucky and Ohio, said they believe the acquisition can create a cost savings of about $100 million,within two years of the deal closing.

Glenn Britt, Time Warner Cable Chairman and CEO, said that Insights’ technological advanced system would fit well in their Midwest operations.

Time Warner Cable Inc. is among the largest providers of video, high-speed data and voice services in the United States, connecting more than 14 million customers to entertainment, information and each other.

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