Hot at the heels of its acquisition of a glut of AWS licenses from cable giants Comcast, Time Warner and Bright House for several billion, Verizon’s at it again. This time, Big Red’s grabbing a swath of 20MHz AWS spectrum from Cox Communications for a tidy $315 million. In a separate agreement, Cox and VZW will begin selling each other’s services in addition. After all , it’s all pending FCC approval, however it seems like this latest purchase can have Verizon only further extending its LTE lead over Ma Bell .
Cox Communications Announces Agreement to Sell Advanced Wireless Spectrum to Verizon Wireless
Cox and Verizon Wireless becomes agents to sell each other’s residential and commercial products
ATLANTA, Dec. 16, 2011 /PRNewswire/ — Cox Communications announced that it has entered into an agreement to sell to Verizon Wireless its 20 MHz Advanced Wireless Services (AWS) spectrum licenses covering 28 million POPs for $315 million. The sale of Cox’s AWS spectrum to Verizon Wireless is a vital step with the intention that consumers’ growing demands for mobility could be met. This agreement doesn’t include Cox’s 700 MHz spectrum licenses, the company’s Cox Wireless customer accounts or some other assets.
Separately, Cox and Verizon Wireless will even become agents to sell each other’s residential and commercial services and products through their respective sales channels. Through the years, Cox can have the choice to sell Verizon Wireless’ services on a wholesale basis. Furthermore, Cox expects to go into into arrangements with the innovation technology three way partnership formed by Verizon Wireless, Comcast, Time Warner Cable and Bright House Networks to higher integrate wireline and wireless services and products.
“These agreements provide Cox customers with key enablers to mobility, consisting of access to Verizon Wireless’ 4G LTE network and iconic wireless devices,” said Pat Esser, president of Cox Communications. “We glance forward to the various benefits this would bring to customers.”
The sale and transfer of Cox’s advanced wireless spectrum to Verizon Wireless is subject to approval by the Federal Communications Commission and review under the Hart-Scott Rodino Act and other customary conditions.
Cox announced last month that it could now not sell its Cox Wireless service, but would continue to offer service to its wireless customers through March 30, 2012.
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