Cox to Trade Lafayette Cable System for Insight Phoenix Property.ATLANTA--(BUSINESS WIRE)--Aug. 15, 1997--Cox Communications, Inc., and Insight Communications Insight Communications is the ninth largest cable operator in the United States with approximately 1.4 million customer relationships in the four contiguous states of Illinois, Kentucky, Indiana and Ohio. Company, L.P. have signed a letter of intent to trade Cox's Lafayette, Ind., cable television system for Insight's suburban Phoenix cable system. Terms of the agreement were not disclosed. The Cox system, serving approximately 38,000 basic customers in Lafayette, Ind., was acquired by Cox during its 1995 acquisition of Times Mirror Cable Television. Insight's Phoenix area system serves approximately 36,000 subscribers in portions of Phoenix and several suburban communities. The trade typifies Cox's long-term strategy to form major clusters for the purpose of providing advanced telecommunications services, including voice, video and high-speed data via cable television infrastructure. Cox currently serves approximately 525,000 basic customers in the Phoenix metro area. Insight, a closely held A phrase used to describe the ownership, management, and operation of a corporation by a small group of people. In a closely held corporation, the same people often act as shareholders, directors, and officers, and no outside investors exist. partnership based in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , recently announced an acquisition strategy that would focus on second and third tier television markets, where the cable systems being acquired would be market dominant. The Lafayette acquisition also increases Insight's presence in Indiana, adding to the company's Noblesville and Jeffersonville, Ind., systems. Insight, which is one-third owned by U.S. West's Media One cable unit, also owns cable systems in Utah, California, Georgia, Virginia and Kentucky. Cox Communications, Inc. (NYSE NYSE See: New York Stock Exchange :COX) is among the nation's largest cable television operators, serving 3.3 million customers. As a full-service provider of telecommunications services, Cox has interests in wired telecommunications, including cable television, telephone services and high speed access to the Internet via Cox@Home; wireless telecommunications, including personal communications services See PCS. (PCS (1) (Personal Communications Services) Refers to wireless services that emerged after the U.S. government auctioned commercial licenses in 1994 and 1995. This radio spectrum in the 1. ) via Sprint PCS, direct-to-home (DTH (Direct-To-Home) Typically refers to satellite TV broadcasting directly to a dish antenna on the roof of a house. See DBS. ) satellite television via PrimeStar, and programming networks including The Discovery Channel. Cox was distinguished for achieving the highest overall customer satisfaction among cable television users in the first study of the cable television industry by J.D. Power and Associates. More information on Cox Communications can be found on the Internet at www.cox.com . CONTACT: Cox Communications Insight Communications Ellen East Michael S. Wilner (404) 843-5854 (212) 371-2266 ellen.east@cox.com |
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