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Source Media's Interactive TV And IT Network Businesses Sold; Company Terminates Operations

DALLAS AND NEW YORK – March 18, 2002 –

Source Media, Inc. (OTC Bulletin Board: SRCM) and Insight Communications Company, Inc. (Nasdaq: ICCI) announced today that, effective March 14, 2002, Source Media's 50% interest in SourceSuite LLC had been sold to a subsidiary of Insight, the owner of the balance of the equity in SourceSuite. Source Media had operated its interactive digital cable TV business through SourceSuite, which will now be operated by Insight. Insight paid for the interest in SourceSuite by tendering all of its 12% Senior Secured Notes due 2004 issued by Source Media.

"We are looking forward to working with the staff at SourceSuite to continue delivering our industry-leading digital products," said Michael S. Willner, Insight's President and CEO. "Our first order of business will be to develop a plan to offer SourceSuite's products to other broadband distributors around the world."

In addition, Source Media announced that certain assets of its IT Network business has been sold to BlueStreak Media Inc., effective March 15, 2002. IT Network is a provider of audio and text applications for all digital media platforms. BlueStreak paid $245,000 in cash and agreed to make additional payments equal to 5% of revenues earned over the next year under certain contracts it assumed.

Upon completion of these sales, Source Media effectively terminated its business. Source Media's remaining cash will be used to wind down its operations, a process which is expected to be completed no later than March 31, 2002. Any cash remaining thereafter (including any payments received in the future) will be paid for the benefit of the holders of Source Media's Senior Secured Notes. As of March 15, 2002, the aggregate amount owed to holders of the outstanding Senior Secured Notes was approximately $82 million.

Insight Communications (NASDAQ: ICCI) 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.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements that are not historical facts are not guarantees of future performance, and actual results could differ materially from current expectations.