Second, today's announcements includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management's current expectations and beliefs and are subject to uncertainty and changes in circumstances.[Audio Gap] Actual results may vary materially from those expressed or implied by the statements herein due to various factors, including economic, business, competitive, technological, strategic and/or regulatory changes that could affect our business. These factors are discussed in detail in Time Warner Cable's SEC filings, including its most recent annual report on Form 10-K and quarterly reports on Form 10-Q. Time Warner Cable is under no obligation to, and in fact, expressly disclaims any such obligation to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. And finally, today's press release, trending schedules and presentation slides and related reconciliation schedules are available on our company's website at timewarnercable.com/investors. A replay of today's call will be available beginning approximately 2 hours after the call has ended and will run through midnight Eastern Time, October 31. And with that cover, I'll thank you and turn the call over to Glenn. Glenn? Glenn A. Britt Good morning, and thanks for joining us. Time Warner Cable continued to post steady results in the third quarter with the year-over-year revenue and adjusted OIBDA growth of just under 4%. Our free cash flow remains very strong. We generated more than $600 million in the third quarter and almost $2.4 billion year-to-date through September. We drove stronger residential video and broadband subscriber metrics compared to the year-ago quarter, and we posted business services revenue growth of 35%, including NaviSite. The ad sales did fine, although it's feeling the impact of a wobbly economy and the absence of 2010's election-year political advertising. Since our last call, we announced the acquisition of Insight Communications. We are excited about the opportunity to buy a well-run company in the business we love at an attractive price, and we look forward to serving Insight's customers and bringing them our innovative capabilities over time. We continue to expect the transaction to close at the first half of next year.
Disciplined balance sheet management continues to be a top priority. The announced acquisition of Insight increased our pro forma leverage. As a result, we slowed the pace of our share repurchases as we actively manage our balance sheet to meet our targeted leverage ratio and cost of capital. The slower pace notwithstanding. We still bought over $600 million worth of shares in the third quarter.[Audio Gap] [indiscernible] maximizing our opportunity in our 2 most promising areas, residential broadband and business services, while continuing to deliver both the content and innovation our customers expect in our video product. Broadband is a powerful service for which there appears to be unquenchable consumer thirst. We have a great story here. We're winning share while increasing ARPU. Over time, we'll devote much more of our plant's capacity to broadband and will allocate more capital to the service, as we continue to enable customers to access innovative and increasingly bandwidth-intensive Internet applications. Business services is mostly about share shift. But I think we can also grow the category by applying new technology, including the capabilities we acquired with NaviSite. I can see the opportunity to grow this business even faster if we make more investments in expanding our sales force and extending the plan to increase serviceability in certain parts of our footprint. Video is a very good but mature business. We're striving to deploy resources thoughtfully to build on our strength. When you think about it, nearly everyone watches TV and may watch a lot of it. Cable has always been about offering access to more TV and providing greater convenience. We are building on this legacy by bringing our video product to a variety of consumer electronics devices. We're consistently updating our iPad app every few months, and we're planning to bring similar functionality to existing -- to additional devices later this year. Read the rest of this transcript for free on seekingalpha.com