Some Insight cable systems to become Comcast

[dishrich]

http://money.excite.com/jsp/nw/nwdt_ge.jsp?news_id=cmt-092b6415&feed=cmt&date=20070402

Insight Communications Company, Inc. and Comcast Corporation (CMCSA, CMCSK) today announced that they have reached a definitive agreement to divide the Insight Midwest partnership in which Insight and a Comcast subsidiary each hold a 50% interest. By dividing the partnership, which Comcast inherited with the AT&T Broadband acquisition, Comcast will be able to convert its interest in the joint venture from a passive investment to a direct ownership in cash-flow generating cable systems. For 2007, Comcast expects the new systems to generate approximately $290 million in Operating Cash Flow.

Upon completion of the transaction, Comcast will own 100% of the cable systems serving Illinois customers in Rockford/Dixon, Quincy/Macomb, Springfield and Champaign/Urbana, and Indiana customers in Bloomington, Anderson, and Lafayette/Kokomo.

http://www.insight-com.com/documents/Insight_04022007.pdf

 

[Carroll A]

I have been doing some remodeling in the house so I have not had a chance to comment on the Insight/ComCast deal... For me I have Dish and it is thanks to Insight I have Dish so Insight glad to know ya and Rockford goes from one bad cable company to another... CC