Comcast to divvy up Midwest cable partnership
Comcast Corp. agreed today to split up a Midwest cable-TV partnership. The deal will bring the Philadelphia company a new source of cash from 684,000 basic cable customers, 296,000 with digital video and 300,000 with high-speed Internet. Comcast will take on $1.34 billion in debt but will directly own systems serving parts of Illinois and Indiana. The systems had been jointly owned with Insight Communications Co. of New York. Insight will keep networks serving parts of Kentucky, Ohio and Indiana, and will assume $1.26 billion in debt.
Comcast Corp. agreed today to split up a Midwest cable-TV partnership. The deal will bring the Philadelphia company a new source of cash from 684,000 basic cable customers, 296,000 with digital video and 300,000 with high-speed Internet. Comcast will take on $1.34 billion in debt but will directly own systems serving parts of Illinois and Indiana. The systems had been jointly owned with Insight Communications Co. of New York. Insight will keep networks serving parts of Kentucky, Ohio and Indiana, and will assume $1.26 billion in debt.