Washington, D.C. — Time Warner Cable said on Monday it will pay $3 billion in cash to acquire Insight Communications, the ninth largest cable operator in the U.S., from Washington, D.C.-based private equity firm The Carlyle Group.
Carlyle led a management buyout of the company in late 2005, then last year sold stakes to both Crestview Partners and MidOcean Partners.
Insight serves more than 750,000 customers in Indiana, Kentucky and Ohio. Time Warner Cable said the acquisition will generate approximately $100 million in annual cost savings through reduced programming expenses and other cost reductions.
This article was also published in Potomac Tech Wire.