Verizon Wireless Buys Spectrum From Cox
Verizon Wireless will buy airwave rights covering 28 million people from cable-television provider Cox Communications Inc. for $315 million, the companies said, the latest chapter in an unusual tie-up between the cellular giant and cable companies.
The deal allows Cox and Verizon Wireless to sell each others’ services in their stores and other sales channels. The joint marketing arrangement is similar to the one agreed to in the groundbreaking deal disclosed earlier this month between Verizon and Comcast Corp., Time Warner Cable Inc. and Bright House Networks, in which Verizon said it would pay the cable consortium $3.6 billion for wireless spectrum licenses covering 259 million people in the U.S.
