Mmm. Regional cable companies are delicious! Comcast has taken a big bite out of two of them: Patriot Media & Communications in New Jersey and Insight Communications in Illinois/Indiana (previously a joint venture.) Comcast stands to acquire 1,061,000 cable subscribers from the deals, most of them in downstate/western Illinois and parts of Indiana. Currently, the vast majority of Comcast’s Illinois customer base is located in the Chicagoland area. New Jersey’s Patriot Media brought far fewer subscribers to the deal, but those subscribers bring in a ton of cash. From Forbes:
Its customers generate twice as much cash flow as the average subscriber, said Comcast spokeswoman D’Arcy Rudnay.
Get ready to be Comcasted! —MEGHANN MARCO