MERGER MONDAY IS BACK: TIME WARNER TO BUY INSIGHT FOR $3 BILLION

Time Warner Cable has reached a dealto buy The Carlyle Group’s cable operator Insight Communications Co for around $3 billion in cash, a source familiar with the matter said on Sunday.

Time Warner could announce the deal as soon as Monday morning, the source said.

Insight is the 10th-largest cable operator in the United States, Carlyle’s website says. It sells cable television, high-speed Internet and telephone services, serving around 750,000 customers in Illinois, Indiana, Kentucky and Ohio.

Time Warner and Carlyle declined to comment. Insight could not immediately be reached for comment.

(Reporting by Yinka Adegoke, Writing by Michael Erman; Editing by Dale Hudson)

SOURCE: REUTERS