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Insight Communications (NASDAQ - ICCI) named Dinesh "Dinni" C. Jain to the newly created position of Senior Vice President and Chief Financial Officer. Jain assumes the senior financial duties for the company, relieving Kim D. Kelly from the dual COO and CFO responsibilities and allowing her to focus more on running the operational facets of the company.
"Given Insight's ongoing growth and status as a publicly traded company, we became convinced that we needed a full-time Chief Financial Officer with both financial and operational expertise," said Kelly. "We're thrilled to have found these abilities in Dinni. He is absolutely the right person for us to meet our growth objectives and we're very excited to have him on board."
Jain will focus on all financing activities of the company, including banking relationships and financing, public market financing, and common stock issuance. He will also oversee the negotiation and execution of mergers, acquisitions, joint ventures, as well as cable property purchases and swaps, and will have responsibility for interfacing with the financial community and running the capital budget process. He is based in Insight's New York Home Office.
Jain comes to Insight from NTL, one of Europe's leading cable and telecommunications companies, where he served most recently as Managing Director of Strategy and Planning. His background in the cable industry includes a nine-year period with OCOM Corporation and International CableTel, working in various key general management positions. His roles have included Deputy Managing Director, NTL Consumer Group, as well as Managing Director of Cable and Wireless' Consumer Division.
Insight Communications is the 9th largest cable operator in the United States, serving approximately 1.4 million customers. The company is highly concentrated in the four contiguous states of Illinois, Kentucky, Indiana and Ohio. Named "2001 Cable Operator of the Year" by Cablevision Magazine, Insight specializes in offering bundled, state-of-the-art services in mid-sized communities, delivering analog and digital video, high-speed data and the recent deployment of voice telephony in selected markets to its customers.
Any statements in this press release that are not historical facts are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. The words "estimate," "anticipate" and other expressions that indicate future events and trends identify forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from historical results or those Insight Communications anticipates. Factors that could have a material and adverse impact on actual results are described in Insight Communications' annual report on Form 10-K for the year ended December 31, 2000 and quarterly report on Form 10-Q for the nine months ended September 30, 2001. All forward-looking statements in this press release are qualified by reference to the cautionary statements included in Insight Communications' Form 10-K and Form 10-Q.