LOUISVILLE, KY (WAVE) ? A deal that has been rumored for years looks like it may be happening. It was announced Monday that Time Warner is buying Insight Communications for $3 billion.
Insight, a privately owned company, serves more than 750,000 customers in Kentucky, Indiana and Ohio with cable television, broadband Internet and telephone service.
One customer, Bob Varney, says he's never heard of Time Warner, but he loves the service he's gotten through Insight.
"I've always got good service out of them," Varney said. "You call them and they make an appointment for you and they show up when they say they're going to show up."
Insight customer Michael Ruf said the same.? He was concerned what the buyout would mean to him.
"Kind of worried because they might, the other company might go up on price," Ruff said. "The way bills are right nowadays ... I'm on a fixed income now being retired."
Rising costs were among the concerns Louisville Metro Council members were looking at.? Metro leaders were in ongoing talks with Insight to renew a contract that ran out last year.? The contract made Insight the cable provider for Metro residents.
"There are a lot of questions that we have and concerns about paying your corporate taxes on time and any taxes, property taxes, that you owe the city," said Councilwoman Madonna Flood, (D) 24 District. "A lot of concerns with the residents are how the rates keep going up and then on basic cable, the lineup on the channels keeps changing and they're getting less for their money."
Flood says Time Warner will have to address those concerns if it wants to get the contract with the city.
Time Warner Cable, based in New York, said that it expects the deal to save tens of millions every year after its purchase of Insight.?
Copyright 2011 WAVE News. All rights reserved.
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Source: http://www.wave3.com/story/15269468/time-warner-to-buy-insight-communications
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