Time Warner Cable Inc. will acquire Insight Communications Inc., the cable operator controlled by private-equity firm Carlyle Group, for about $3 billion, edging out a line of bidders that included Cablevision Systems Corp.

Final bids for Insight, the country's ninth-largest cable operator by number of basic cable subscribers, were due in early July, and a buyer was expected to be chosen within a month, people familiar with the matter said earlier.