Telecommunications company Cox Communications has signed an agreement with Verizon Wireless to sell its 20 MHz Advanced Wireless Services (AWS) spectrum licenses covering 28 million POPs for $315m.
The agreement does not include Cox’s 700 MHz spectrum licenses, the company’s Cox Wireless customer accounts or any other assets.
In addition, Cox and Verizon Wireless will separately become agents to sell each other’s residential and commercial products and services through their respective sales channels.
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, said Cox.
Further, Cox may have the option to sell Verizon Wireless’ services on a wholesale basis, and Cox expects to enter into arrangements with the innovation technology joint venture formed by Verizon Wireless, Comcast, Time Warner Cable and Bright House Networks to better integrate wireline and wireless products and services.
Cox Communications president Pat Esser said these agreements provide Cox customers with key enablers to mobility, such as access to Verizon Wireless’ 4G LTE network and iconic wireless devices.
"We look forward to the many benefits this will bring to customers," said Esser.
