NEW YORK, March 7 2005 – LAWFUEL – The Law News Network — Debevoise & Plimpton LLP is representing The Carlyle Group in its proposal with Insight Communications Company, Inc.’s (Nasdaq: ICCI) co-founders Sydney R. Knafel and Michael S. Willner to acquire the outstanding publicly held shares of Insight for $10.70 per share in cash. The acquiring entity will be called New Insight LLC.
The proposal values the total equity of Insight at approximately
$650 million and implies an enterprise value of approximately $2.1 billion
(based on Insight’s attributable share of indebtedness).
The Carlyle Group is a global private equity firm with more than
$24.5 billion under management. Carlyle invests in buyouts, venture capital,
real estate, and leveraged finance in North America, Europe, and Asia.
Insight Communications, through a 50/50 partnership with Comcast, is the 9th
largest cable operator in the United States. Debevoise & Plimpton LLP is a
leading international law firm with offices in New York, London, Paris,
Frankfurt, Washington, Moscow, Hong Kong and Shanghai.
The Debevoise team is led by partners Jeffrey J. Rosen and Andrew L. Bab,
and includes partners Peter A. Furci and Elizabeth Pagel Serebransky and
associates James E. Franklin, Lisa B. Gorrin, Alan M. Levine, John D. L.
Rather and Shawn M. Shillington.