Exclusive: Insight Communications explores sale, again: sources

Reuters News
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Posted: Mar 22, 2011 5:11 PM

NEW YORK (Reuters) - Insight Communications Co, the cable operator controlled by The Carlyle Group, is seeking up to $4 billion in a sale of the company, people close to the deal told Reuters.

Insight, which is the tenth largest cable operator in the United States according to Carlyle's website, has hired Bank of America Merrill Lynch and UBS AG will run the process after a competitive series of banker meetings in February.

The sale of Insight could fetch between $3.5 billion to $4 billion, when the auction kicks off over the next month, the sources said.

(Reporting by Nadia Damouni and Kenneth Li; additional reporting by Megan Davies; editing by Andre Grenon)