Insight Midwest and AT&T Broadband have reached a definitive system-swap
Under the agreement, Insight Midwest will get AT&T Broadband systems
serving about 23,000 customers in Indiana and Kentucky in exchange for about
13,000 customers in Georgia and $25 million in cash, the companies said
Insight Midwest is a joint-venture partnership managed by Insight
Communications Co. Inc. and equally owned by Insight and AT&T Broadband,
serving about 1.3 million subscribers highly concentrated in Illinois, Kentucky,
Indiana and Ohio.
The transaction is expected to close in the first quarter of 2003 or sooner,
subject to certain conditions and regulatory review.