MSOs Sell Verizon Spectrum, Ink Sales Deals

SpectrumCo LLC, a joint venture among Comcast, Time Warner Cable and Bright House Networks, has entered into an agreement under which Verizon Wireless will acquire its 122 Advanced Wireless Services spectrum licenses covering 259 million POPs for $3.6 billion. C...

SpectrumCo LLC, a joint venture among Comcast, Time Warner Cable and Bright House Networks, has entered into an agreement under which Verizon Wireless will acquire its 122 Advanced Wireless Services spectrum licenses covering 259 million POPs for $3.6 billion. Comcast owns 63.6% of SpectrumCo and will receive approximately $2.3 billion from the sale. Time Warner Cable owns 31.2% of SpectrumCo and will receive approximately $1.1 billion. Bright House Networks owns 5.3% of SpectrumCo and will receive approximately $189 million.

The companies also have entered into several agreements providing for the sale of various products and services. The cable companies and Verizon Wireless will become agents to sell one another's products and, over time, the cable companies will have the option of selling Verizon Wireless' service on a wholesale basis. Additionally, the cable companies and Verizon Wireless have formed an innovation technology joint venture for the development of technology to better integrate wireline and wireless products and services.
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