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Entries in Deals: CATV (89)

Thursday
Mar012012

Time Warner Cable Completes Insight Communications Deal

Source: Time Warner Cable Press Release

Time Warner Cable Inc. (NYSE:TWC) announced that it has completed its previously announced acquisition of Insight Communications Company, Inc. As a result of the acquisition, Time Warner Cable adds more than 760,000 customers in Evansville, Indiana; Louisville, Covington, Lexington, and Bowling Green, Kentucky; and Columbus, Ohio.

The acquisition includes technologically advanced systems serving approximately 550,000 high-speed data, 670,000 video and 290,000 voice subscribers.

Prior to the transaction, Insight was owned by The Carlyle Group, Crestview Partners, MidOcean Partners, members of Insight management and others. Carlyle and Insight management took the company private in December 2005, and Crestview and MidOcean purchased a significant stake in the company in April 2010.

Tuesday
Feb282012

Knology Might be Looking for a Buyer

Source: WSJ

According to an article in The Wall Street Journal, Knology (Nasdaq:KNOL) is shopping itself to potential buyers including private-equity firms. The Journal reported that people familiar with the matter said the company has hired a financial adviser in recent weeks.

Sunday
Feb262012

Utility Telephone Files to Acquire Creative Interconnect

Source: FCC 214 Applications

Creative Interconnect Communications, LLC and Utility Telephone, Inc. filed an application pursuant to section 63.03 of the Commission’s rules to transfer Creative Interconnect’s telecommunications assets, including its customer base, to Utility Telephone.

Creative Interconnect, a California limited liability company, provides local exchange, exchange access, dedicated private line, and domestic interexchange telecommunications services to commercial customers in California.  Creative Interconnect also provides interconnected VoIP, voice mail, and conferencing services.

Utility Telephone, a California corporation, provides facilities-based local exchange, exchange access, and domestic interexchange telephone services in California and Nevada.  Utility Telephone holds an eighty percent interest in Call America, Inc. Call America provides local exchange and domestic interexchange telephone service to small and medium size business customers.  The following U.S. individual and entity directly hold ten percent or greater ownership or control interests in Utility Telephone, Inc.: Jason Mills (54 percent) and the John K. and Dianne B. La Rue Revocable Trust (46 percent).  The following individuals are the trustees of, and hold 100% of the beneficial interests in, the John K. and Dianne B. La Rue Revocable Trust:  John K. La Rue and Dianne B. LaRue.  No other individual or entity holds an interest in Utility Telephone. 

Creative Interconnect’s owners wish to redeploy their capital into other ventures or investments and, therefore, have entered into an agreement to sell Creative Interconnect’s telecommunications assets, including its customer base, to Utility Telephone.  Utility Telephone views the opportunity to acquire Creative Interconnect’s assets as a good fit with its existing operations.  Applicants state that following consummation of the proposed transaction, Utility Telephone will provide service to the transferred customers under the same rates, terms, and conditions they received from Creative Interconnect. 

Monday
Feb132012

City of Louisville Reaches $3.5M Franchise Deal with Insight

Source: Courier-Journal.com

According to an article on the Courier-Journal.com, Insight Communication’s signed a $3.5 million deal to renew its franchise agreement with Louisville Metro government.  A deal that appears to pave the way for the cable provider’s $3 billion sale to Time Warner Cable to close in the next few months.

Metro government and Insight have been negotiating since November, when the city formally told Insight that it may terminate the long-standing franchise. The city maintained that the franchise had expired, while Insight said it was still in force, the article said.

Thursday
Feb022012

FCC Green Lights Time Warner Cable's Buy of Insight Communications

Source: FCC Order

Time Warner Cable and Insight Communications Company filed a series of applications to transfer control of Insight from its current shareholders to TWC.  As part of their applications, Applicants also seek a waiver of section 652(b) of the Act, which prohibits a cable operator or its affiliate from obtaining certain interests in a local exchange carrier that provides service in the cable operator’s local franchise area.

The FCC granted the request for a waiver of section 652(b) of the Act.  It said it received no comments in opposition to the transaction, and concluded that, overall, approval of the applications will serve the public interest, convenience, and necessity.  In addition, the domestic section 214 application for consent to transfer control of Insight from its current shareholders to TWC was also granted.    

The Antitrust Division of the U.S. Department of Justice has also found that the transaction serves the public interest, convenience, and necessity.