Insight off the auction block

The current tightening of credit availability for large deals has taken its toll again. Both the Wall Street Journal and Reuters say Carlyle Group has taken cable MSO Insight Communications off the market until conditions improve. Carlyle, one of the largest private equity groups, bought Insight in late 2005 for 2.1 billion bucks. It had hoped to sell the largely Midwestern MSO for over three billion, which would be a pretty good profit for less than two years of ownership. But, with the current tightening of credit for mega deals, the initial bids reportedly came up short.

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