Cox agrees to sell wireless spectrum to Verizon

ComicalMoodyDan · Dec 16, 2011

Cox agrees to sell wireless spectrum to Verizon
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By PETER SVENSSON
AP Technology Writer
Published: Friday, Dec. 16, 2011 - 8:37 am

NEW YORK -- Cable company Cox Communications says it has agreed to sell some of its airwave licenses to Verizon Wireless for $315 million and will resell Verizon service in its stores.

The deal mimics that between Verizon Wireless and three other cable companies, struck two weeks ago. Comcast, Time Warner Cable and Bright House Networks gave up their ambitions to run their own wireless network and signed co-marketing agreements with Verizon.

Unlike the other cable companies, Cox had taken steps to use its spectrum. It gave up on its plans to build a wireless network earlier this year, saying it couldn't compete with bigger cellphone companies.

Privately held Cox is the third-largest cable company in the country. It is based in Atlanta.

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JFB · Dec 16, 2011

To add to that, here is the Press Release from COX:

Cox Communications Announces Agreement to Sell Advanced Wireless Spectrum to Verizon Wireless

Cox and Verizon Wireless will become 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 an important step to ensure that consumers' growing demands for mobility will be met. This agreement does not include Cox's 700 MHz spectrum licenses, the company's Cox Wireless customer accounts or any other assets.

Separately, Cox and Verizon Wireless will also become agents to sell each other's residential and commercial products and services through their respective sales channels. Over time, Cox may have the option to sell Verizon Wireless' services on a wholesale basis. In addition, 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.

"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. "We look forward to the many benefits this will 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 would no longer sell its Cox Wireless service, but would continue to provide service to its wireless customers through March 30, 2012.

About Cox Communications:
Cox Communications is a broadband communications and entertainment company, providing advanced digital video, Internet, and telephone services over its own nationwide IP network. The third-largest U.S. cable TV company, Cox serves more than 6 million residences and businesses. Cox Business is a facilities-based provider of voice, video and data solutions for commercial customers, and Cox Media is a full-service provider of national and local cable spot and new media advertising.

Cox is known for its pioneering efforts in cable telephone and commercial services, industry-leading customer care and its outstanding workplaces. For seven years, Cox has been recognized as the top operator for women by Women in Cable Telecommunications; for six years, Cox has ranked among DiversityInc's Top 50 Companies for Diversity, and the company holds a perfect score in the Human Rights Campaign's Corporate Equality Index. More information about Cox Communications, a wholly owned subsidiary of Cox Enterprises, is available at Welcome - Please Select Your Service Area | Cox Communications and Cox Media.

About Verizon Wireless:
Verizon Wireless operates the nation's largest 4G LTE network and largest, most reliable 3G network. The company serves 107.7 million total wireless connections, including 90.7 million retail customers. Headquartered in Basking Ridge, N.J., with nearly 83,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications (NYSE, Nasdaq: VZ) and Vodafone (LSE, Nasdaq: VOD). For more information, visit Cell Phones - Smartphones: Cell Phone Service, Accessories - Verizon Wireless. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at www.verizonwireless.com/multimedia
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