Time Warner Cable on Monday confirmed its plans to buy Insight Communications. The $3 billion deal gives it control of TV, Internet access, and more across 750,000 homes in Indiana, Kentucky, and Ohio. CEO Glenn Britt claimed the deal, which took Insight out of the hands primarily of private investors like the Carlyle Group, would give it a "well-run, technologically advanced" cable network.
Time Warner is about to try and consolidate the cable industry further by buying Insight, a last-minute leak brought out Sunday night. The deal would buy Insight out from the Carlyle Groupe for $3 billion and absorb the cable provider's debts. Final bidding had wrapped up at the start of the July, WSJ said, and the new deal was just Insight reaching a promised target of picking a winning buyer within a month's time.
A report issued today by the Federal Communications Commission shows broadband speeds in the U.S. are now significantly closer to what Internet service providers advertise than they were in 2009. The report found that actual download speeds provided by the majority of U.S. broadband providers were within 80 percent or better of companies' advertised speeds. In 2009, download speeds were more often around 50 percent of the advertised rate.
