Insight reaches franchise deal with Metro Louisville gov't: Company to pay city $3.5 million

The long-running dispute between Insight Communications and Metro Louisville government is over.

Metro Louisville officials and the company today reached an agreement to renew Insight's franchise agreements in the old city of Louisville and the outlying portions of Jefferson County, Ky. WDRB-TV reports that Insight will pay the city $3.5 million as part of the settlement, which metro officials will use to help offset a $12 million budget deficit.

Insight will also continue to provide internet service to schools and government buildings at no charge, and other customers will see no change in service or benefits.

The new arrangement will last until Time Warner Cable completes its $3 billion takeover of Insight, and another new franchise agreement will be negotiated at that time.

WDRB reports that the Time Warner takeover could be completed "in a matter of weeks." However, Insight spokesman Jason Keller, when contacted this afternoon, declined to comment.

In addition to the new franchise deal, Metro Louisville Mayor Greg Fischer says that he will continue working with Time Warner Cable to ensure that Insight's customer call center in Louisville is retained.

I'll continue to bring you more information as soon as it becomes available.