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August 14, 1997updated 03 Sep 2016 7:18pm


By CBR Staff Writer

Woodbury, New York-based Cablevision Systems Corp has signed an agreement to sell its cable television system in Rockford, Illinois to privately-held Insight Communications for $97m in cash. Cablevision says it is unloading the Rockford system in keeping with its effort to consolidate resources in its core markets – the New York metro area, the Boston area and the state of Ohio. Insight plans to rebuild the system, which serves 65,000 customers, introducing cable modems and digital television services. In June, Cablevision bought 10 New York metro-area systems from Tele-Communications Inc for $1.07bn in a share transaction which gave TCI a 33% stake in the company (CI No 3,178).

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