Exhibit 99.2
From: Xxxxxxx Xxxxxxx
Date: March 7, 2005
Re: Proposed Transaction Involving Insight Communications
------------------------------------------------------------------------
As you may have heard, Xxx Xxxxxx (Chairman of Insight's Board of Directors) and
The Carlyle Group (a private investment firm) and I have proposed a transaction
that would make Insight Communications Company, Inc. a private company.
Under the proposal, a new company would be established to acquire all of the
outstanding publicly held Class A shares of Insight from its current
shareholders. At this time, the conversion to a private company is merely a
proposal and will need to be approved by the Board of Directors of the Company
and a special committee of the Board in consultation with its advisors. The
transaction will also need to comply with a wide variety of legal requirements.
The entire process will take several months. You can expect that you will
receive further information regarding the transaction as we move forward.
You should be aware that being a private company will not change Insight's
business. Current management will not change and Xxx Xxxxxx and I will continue
to control the company. As a private company, Insight will continue to strive to
provide great customer service and state-of-the-art products to its subscribers.
This transaction should create no distractions in running our business nor will
it cause any changes in your jobs.
As you know, many Company employees have been given the opportunity to acquire
company stock either through compensation plans or under the 401(k) plan. As
part of the conversion to a private company, there will need to be some
adjustments to these plans as they will operate somewhat differently. We will be
providing you with additional details regarding these changes as we move
forward.
We expect that a Hotline will be established to help answer your questions and
will provide you with information regarding the Hotline shortly. You are urged
to read relevant documents as filed by Insight Communications with the
Securities and Exchange Commission (SEC) when such documents become available
because they will contain important information. You may obtain a free copy of
the relevant documents as filed by Insight Communications (when and if
available) and other documents filed by Insight Communications and the
Controlling Shareholders and The Carlyle Group at the SEC's web site at
XXX.XXX.XXX.
We look forward to a bright future at Insight.
