In an effort to tidy up its affairs ahead of its $3 billion purchase by Time Warner Cable, Insight Communications reached a new franchise agreement with the city of Louisville, Ky., on Friday.
Insight and the city of Louisville had been at loggerheads over a new franchise agreement since November, according to the Louisville Courier-Journal. Time Warner Cable, which expects its purchase of Insight to close over the coming months, will have to negotiate its own franchise agreement with Louisville once the deal to buy Insight is completed.
The new franchise agreement requires Insight to make the $3.5 million payment when it closes the deal with Time Warner Cable.
Time Warner Cable hasn’t said what will happen to Insight’s 1,500 employees in the Louisville area once it takes over the reins.
Earlier this month, the Federal Communications Commission signed off on Time Warner Cable’s bid to buy Insight , which was first announced in August.
Time Warner Cable, the nation’s second-largest cable operator, has previously said it wanted to purchase Insight to strengthen its Midwest footprint. Insight, which is the nation's ninth-largest cable operator, has systems in Louisville, Bowling Green and northern Kentucky; in parts of Columbus, Ohio; and in parts of Evansville, Ind.
In an effort to tidy up its affairs ahead of its $3 billion purchase by Time Warner Cable, Insight Communications reached a new franchise agreement with the city of Louisville, Ky.