A once-crowded field of suitors has been reduced to three: Mediacom Communications, Cablevision Systems (NYSE: CVC) and Wide Open West (WOW), as final bidding closes on acquiring Insight Communications.
The MSO with 693,000 basic video subs in Indiana, Kentucky and Illinois thinks it's worth about $3.5 billion to $4 billion--a number its been touting since it was placed on the block in March.
A Broadcasting & Cable story said that those numbers might be too rich for some bidders, including Charter Communications (Nasdaq: CHTR), Suddenlink and a scattering of private equity funds. Time Warner Cable (NYSE: TWC) was reportedly an early dropout.
- Broadcasting & Cable has this story
First bids due soon for Insight Communications sale
Sources: Insight price too rich for Time Warner Cable
Insight Communications said to be on the auction block for $4B