Insight Separation Looks On Track
Comcast Acquisition of Insight Subscribers Expected to Close
By Mike Farrell -- Multichannel News, 12/28/2007 9:09:00 AM
Comcast’s acquisition of half of Insight Communications’ 1.3 million subscribers is expected to close by the end of the year, although there is some confusion whether the deal will make that date.
Comcast exercised its right to dissolve its 50-50 Insight Midwest partnership in April, agreeing to assume control of about 684,000 customers in southern Indiana and Illinois. Insight will keep 639,000 customers in Kentucky, Indiana and Ohio but lose the ability to purchase programming at Comcast’s volume discount.
The deal was originally expected to close by Dec. 31, after the required local franchise transfers were obtained.
A Comcast spokeswoman would only say that the Insight deal was expected to close “early in the first quarter,” of 2008. Insight, though, was a bit more optimistic. The company said that the deal itself should close on Dec. 31, with the financial assets to be transferred on Jan. 1.
