Though Insight Communications is based in Louisville, so far, the pending sale of the regional cable company has been a national story, only.
(With the notable exception of Insider Louisville.)
Anyway, the Wall Street Journal has picked up the story after Reuters broke it back in the spring.
In the latest update, anonymous sources tell the WSJ final bids are in for the cable company/entertainment network, which is projected to go for $3 billion and change.
WSJ reporter Anupreeta Das reports that final bids were submitted at the end of June, with a buyer possibly announced this month.
Bidders include WideOpenWest LLC and Mediacom Communications, according to the WSJ piece.
Cablevision Systems Corp. dropped out of the sale process, though Time Warner Cable Inc. is in, according to the story.
Insight, the country?s ninth-largest cable operator by number of basic cable subscribers, is owned by Manhattan-based private-equity firm Carlyle Group and other venture capital and mezzanine fund firms.
Insight provides video, high-speed Internet and phone services to about 700,000 customers in Indiana, Kentucky and Ohio.? The company also has weather programing, sports and politics after recruiting serious talent, mostly from the Lexington Herald-Leader newspaper.
Will all this change?
Too early to know.
More from the WSJ piece:
WideOpenWest is an Internet and cable operator based in Englewood, Colo., with additional operations in Illinois, Michigan, Indiana and Ohio. Buyout firm Avista Capital owns WideOpenWest. Mediacom Communications, the eighth largest cable operator, provides Internet and TV services to customers mainly in the Midwest and South. Mediacom?s founder and Chief Executive Rocco Commisso took the company private earlier this year. Interest in cable operators has been high for several years. Last year, Cablevision Systems bought cable operator Bresnan Communications for $1.36 billion, outbidding several buyout firms in a robust auction.
diane sawyer tcc uw ironclad curb your enthusiasm season 8 harper lee spread
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.