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Comcast, Insight complete division of partnership

Wed, 01/02/2008 - 8:43am
Mike Robuck

Comcast announced today that it has completed its previously announced agreement with Insight Communications to divide the companies’ existing Insight Midwest Partnership, in which each company owned a 50 percent interest.

Comcast paid the partnership approximately $1.3 billion at closing for its share of the partnership's debt.

With the completion of the transaction, Comcast owns 100 percent of the cable systems serving Illinois customers in Rockford/Dixon, Quincy/Macomb, Springfield, Peoria and Champaign/Urbana, as well as Indiana customers in Bloomington, Anderson, and Lafayette/Kokomo. As of Sept. 30, these systems passed 1.2 million homes and served approximately 696,000 basic video subscribers.

Insight now owns 100 percent of the cable systems serving Kentucky customers in Louisville, Lexington, Bowling Green and Covington, as well as customers in Evansville, Ind., and Columbus, Ohio.

As of Sept. 30, these systems passed approximately 1.3 million homes and accounted for approximately 665,800 basic video customers.

 

Today's headlines:

* FCC encourages the acceleration of the digital transition 

* Comcast, Insight complete division of partnership 

* Concurrent receives NASDAQ deficiency notice 

* Comcast moves PEG channels to digital; Dingell objects 

* Former Time Warner exec Dressler dies 

* Comcast heirs to get Roberts’ pay for 5 years after his death 

* Intel’s Sodhani resigns from Clearwire board 

* Broadband Briefs for 1/02/08
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