Willner Leads Bid to Take Insight Private


The founders of cable MSO Insight Communications Co. Inc. have made a bid to take the company private.

With an assist from investment firm Carlyle Group, Insight CEO Michael Willner is leading a $10.70-per-share bid for the company that values it at $2.1 billion ($650 million in equity). That bid is an 11% premium on the stock price over Friday's close.

Wall Street analyst Freidman Billings Ramsey likes the play, saying that going private will allow the company to be more aggressive in roll-outs of voice and advanced services like video on demand.

FRB also sees the 9.2 times EBIDTA (earnings before interest, taxes, depreciation and amortization) suggests a current cable valuation that indcates stock prices for Comcast, Cablevision and Charter may be about maxed out in the near term.