Cox Communications on Friday announced that it will sell its 20 MHz Advanced Wireless Services (AWS) spectrum licenses to Verizon for $315 million. The agreement does not include Cox's 700 MHz spectrum licenses, the company's Cox Wireless customer accounts or any other assets. The AWS spectrum license covers 28 million POPs.
Separately, Cox (Atlanta, Ga., U.S.A.) and Verizon Wireless (New York) 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, says the company.
In addition, Cox expects to enter into arrangements with the 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 of Cox's advanced wireless spectrum to Verizon Wireless is subject to approval by the U.S. 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.