Officials with Insight Communications remain tight-lipped about the company’s potential sale.
The company put itself up for auction in March. The Wall Street Journal cites sources close to the deal who say final bids for the company have come in at around $3 billion and potential buyers include Time Warner Cable, midwestern cable provider Mediacom and the Colorado-based WideOpenWest.
Insight would not confirm or deny any details of the auction or bidders, but a company spokesperson did say a sale isn’t guaranteed.
“We are undertaking the very normal process of examining our company’s strategic options – a review that we have done many times before and has become a commonplace part of our business,” says a statement issued by the company. “This process is something that all healthy company’s do from time to time and we are evaluating a myriad of possible alternatives. In fact, we went through a similar process last year which resulted in a transaction that had absolutely no impact on our customers. Insight has always been focused on delivering the most advanced and reliable technology to our customers and that commitment hasn’t changed.”
The private equity firm the Carlyle Group, which owns 42 percent of Insight, declined to comment.