Cox to sell wireless services to Verizon

Cox Communications announced today that it has entered into an agreement to sell to Verizon Wireless its 20 MHz Advanced Wireless Services spectrum licenses, which cover 28 million points of presence, for $315 million. The sale of Cox’s AWS spectrum to Verizon Wireless is intended to address growing mobile demands. Cox additionally 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. This agreement does not include Cox’s 700 MHz spectrum licenses, the company’s Cox Wireless customer accounts or any other assets. Spokeswoman Sharon Bethea of Cox in Baton Rouge says the deal will allow the two companies “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.” The sale is subject to FCC approval.