Acquisition By Time Warner Cable
On August 13, 2011, Time Warner Cable announced its purchase of Insight Communications for $3 billion. The sale will create cost efficiencies of approximately $100 million annually through savings on programming expenses and other cost reductions, with the bulk of the savings realized within two years of the close of sale. With Insight's 2011 conversion of its television services from analog to digital, Time Warner Cable expects Insight to have lower capital requirements of 10%-12% of revenues upon completion of the acquisition, which is subject to approval by the Federal Communications Commission and Insight franchisees. The merger was completed February 29, 2012, but no changes have been made to Insight service as of yet. Although some changes are expected to begin within the first and second quarter of the 2013 fiscal year.
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