entertainment company, announced that it has signed a contract to sell its 20
MHz Advanced Wireless Services (AWS) spectrum licenses covering 28 million POPs
to Verizon Wireless for $315 million.
This agreement does not include Cox’s 700 MHz spectrum
licenses, the company’s Cox Wireless customer accounts or any other assets.
Over time, Cox may have the option to sell Verizon Wireless’ services on a
wholesale basis.
“These agreements provide Cox customers with key
enablers to mobility, such as access to Verizon Wireless’ 4G LTE network and
iconic wireless devices,” said Pat Esser, president of Cox Communications.
With this agreement Cox and Verizon Wireless will
become agents to sell each other’s residential and commercial products and
services through their respective sales channels.
Cox also plans 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.
The sale and transfer agreement is subject to approval by
the Federal Communications Commission and review under the Hart-Scott Rodino
Act and other customary conditions.
Earlier this year, Cox Communications signed multi-year
agreements with Level 3 Communications to deliver high-speed IP and transport
services, and is also expanding the capabilities made available through Level
3’s wholesale partner program that enable Cox to use and to resell Level 3’s
services.
By Telecomlead.com Team
