Cox to sell wireless spectrum to Verizon

Cox Communications said Friday that it agreed to sell Advanced Wireless Service (AWS) spectrum to Verizon Wireless (NYSE: VZ) for $315 million. The deal mirrors agreements Verizon struck recently to acquire $3.6 billion in spectrum from Comcast (Nasdaq: CMCSA), Time Warner Cable (NYSE: TWC) and Bright House Networks through their SpectrumCo joint venture.

Cox, which will sell its 20 MHz AWS licenses to Verizon, will be able to sell Verizon Wireless voice and data products to its subscribers as part of a separate agreement it signed with the telco. And Verizon will also be able to market Cox's pay TV products to its customers. Comcast, Time Warner Cable and Bright House agreed to similar terms with Verizon.

The Cox-Verizon deal could reduce head-to-head competition between Cox and Verizon's FiOS TV and FiOS Internet in markets such as Rhode Island and Virginia. The deal also helps Cox, which recently announced plans to shutter its wireless phone service, market a quadruple play of digital video, high-speed Internet and landline and mobile voice service.

For more:
- see the news release

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