Verizon Wireless acquires spectrum from Comcast, others for $3.6 billion

Verizon Wireless announced Friday that it plans to acquire 122 advanced wireless services (AWS) spectrum licenses from SpectrumCo, a joint venture formed by Comcast, Time Warner and Bright House Networks, for $3.6 billion. The spectrum covers 259 million POPs. Comcast owns 63.6% of SpectrumCo and will take home $2.3 billion from the spectrum sale, Time Warner owns 31.2% of the company and expects to receive about $1.1 billion, and Bright House Networks will make roughly $189 million on the deal. As part of the agreement, Comcast, Time Warner and Bright House Networks will eventually have the option to sell Verizon Wireless service through wholesale channels. Read on for more. “These agreements, together with our Wi-Fi plans, enable us to execute

Source: http://www.bgr.com/2011/12/02/verizon-wireless-acquires-spectrum-from-comcast-others-for-3-6-billion/

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