Cox To Sell Wireless Licenses To Verizon Wireless For $315 Million

Call it Verizon’s “quad play.” Cox Communications has joined three of its cable peers in the Verizon Wireless camp, announcing that it has struck an agreement to sell to the wireless carrier its 20-MHz Advanced Wireless Services spectrum licenses covering 28 million people in the U.S. for $315 million.

In addition, Cox and Verizon Wireless 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. Cox noted that the agreement with Verizon Wireless does not include Cox's 700 MHz spectrum licenses, the company's existing Cox Wireless customer accounts -- which will be phased out by March 2012 -- or any other assets. As part of the deal, Cox expects to enter into arrangements with the Philadelphia-based "innovation technology joint venture" to be formed by Verizon Wireless, Comcast, Time Warner Cable and Bright House, aimed at developing ways to better integrate wireline and wireless products and services.