(Adds Reuters sourcing, confirmation)
NEW YORK, Sept 11 The Carlyle Group [CG.UL] has
postponed the sale of Insight Communications Co, a source
familiar with the matter said on Tuesday, as credit market
turmoil has curtailed bids from suitors interested in the cable
Carlyle bought Insight Communications for $2.1 billion in a
December 2005 management-led leveraged buyout.
Washington D.C.-based Carlyle, one of the largest private
equity firms in the world, put the company up for sale earlier
this year. But in the past few months, the credit crunch has
forced banks to stop lending large sums of money to leveraged
That, coupled with rising borrowing costs made getting a
good price for Insight difficult.
Insight Communications, Inc. is the ninth largest cable
company in the United States, according to its Website, serving
around 1.3 million basic video customers in Illinois, Indiana,
Kentucky and Ohio.
It sells cable, high-speed Internet and phone services to
Carlyle declined to comment.
(Additional reporting by Lewis Krauskopf, editing by Rory