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Comcast is set to take over most of Insight Communications' territory in Indiana, the two companies announced this week. Insight has over a quarter million customers in central Indiana. According to the agreement, Comcast will take over those accounts. Insight customers with email accounts will probably have to change their email addresses.
Comcast inherited a 50-percent interest in the Insight Midwest partnership with the AT&T Broadband acquisition, and the agreement takes Comcast from a passive investment to a direct ownership.
The companies did not announce a deadline for the deal, but once it's done, Comcast will own 100 percent of the cable systems serving Illinois customers in Rockford/Dixon, Quincy/Macomb, Springfield, Peoria and Champaign/Urbana, and Indiana customers in Bloomington, Anderson, and Lafayette/Kokomo.
Insight will continue to manage accounts in the Evansville area, along with cable systems in Kentucky and Columbus, Ohio.
Closing of the transaction is subject to closing conditions, including government and other approvals, and is expected to be completed by the end of 2007.
Company info (from press release)
Insight Communications is the ninth largest cable operator in the United States with approximately 1.4 million customer relationships in the four contiguous states of Illinois, Kentucky, Indiana and Ohio. Insight offers bundled, state-of-the-art analog and digital video, high-speed Internet and voice telephony services to its customers.
About Comcast Corporation
Comcast Corporation is the nation's leading provider of cable, entertainment and communications products and services. With 24.2 million cable customers, 11.5 million high-speed Internet customers, and 2.5 million voice customers, Comcast is principally involved in the development, management and operation of broadband cable systems and in the delivery of programming content.
Comcast's content networks and investments include E! Entertainment Television, Style Network, The Golf Channel, VERSUS, G4, AZN Television, PBS KIDS Sprout, TV One, four regional Comcast SportsNets and Comcast Interactive Media, which develops and operates Comcast's Internet business. Comcast also has a majority ownership in Comcast-Spectacor, whose major holdings include the Philadelphia Flyers NHL hockey team, the Philadelphia 76ers NBA basketball team and two large multipurpose arenas in Philadelphia.
