Test Your Connection
Speed Now

Comcast Expands Midwest Market in Deal with Insight

Philadelphia-based Comcast Corporation and Insight Communications recently announced that Comcast has acquired Insight's 50% stake in its Midwest market to include rural Illinois customers in Rockford, Peoria, Springfield, Dixon, Quincy, Macomb, and Champaign-Urbana as well as Indiana customers in Bloomington, Anderson, Lafayette and Kokomo.

Previously both Comcast and Insight were 50% stakeholders in these areas from the terms of the previous AT&T acquisition of 2002.

These systems serve approximately 296,000 digital cable television subscribers, 684 basic cable subscribers and 300,000 high speed cable Internet subscribers in 1.2 million homes. Comcast expects the new cable systems to generate roughly $290 million in operating cashflow this year. Comcast is hoping to attract even more subscribers from these areas with its new digital voice product and its bundled triple play package.

The New York-based Insight cable operator will own 100% of the cable systems serving customers in the cities of Louisville, Lexington, Bowling Green and Covington, Kentucky as well as the cable market in Evansville, Indiana and Columbus, Ohio. These areas approximately constitute 1.3 million homes and include approximately 640,000 basic cable customers, 325,000 digital cable customers, 310,000 high speed cable Internet customers.

Comcast Corporation is the largest cable operator and Insight Communications is the ninth largest cable operator. in the US. Both providers offer digital video, high-speed cable Internet and digital voice phone services to its customers. Closing of the transaction is expected to be completed by the end of 2007.

Digg!