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Ninth-largest cable outfit may be sold

Bloomberg News / August 15, 2011

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NEW YORK - Time Warner Cable Inc., the second-largest cable television operator, is in advanced talks to buy Carlyle Group’s Insight Communications Co. for about $3 billion, people with knowledge of the matter said.

Such an acquisition, which would be Time Warner Cable’s biggest since it was spun off from Time Warner Inc. in 2009, may help the company combat declining pay-TV demand.

Insight is the ninth-largest cable operator, with 679,700 basic video customers in Kentucky, Indiana, and Ohio, according to its website. Carlyle, a private equity firm, along with cofounders Sidney Knafel and Michael Willner, took Insight private in 2005.

Last year, two other private-equity firms, Crestview Partners and MidOcean Partners, bought a stake in Insight.