ATLANTA – Cox Communications agreed to sell its 20 MHz Advanced Wireless Service spectrum licenses covering 28 million POPs to Verizon Wireless for $315 million, the companies announced Dec. 16, pending regulatory approval.
Cox and Verizon will also begin selling each other’s residential and commercial products and services.
Cox announced in November that it was pulling out from its wireless service offering, based on “a lack of 3G wireless scale necessary to compete in the marketplace, the acceleration of competitive 4G networks and an “inability to access iconic wireless devices.” It stopped selling new contracts and said it would continue to service its wireless customers through March 30, 2012.
“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 spectrum license sale does not include Cox’s 700 MHz spectrum licenses, customer accounts or any other assets, a news release noted.