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Verizon to bolster 4G LTE network with $315 million Cox spectrum buy

Updated Dec 19th, 2018 7:39PM EST
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Cox Communications on Friday announced an agreement that will see Verizon Wireless purchase its 20MHz AWS spectrum licenses for $315 million. Verizon announced a deal to acquire 122 AWS spectrum licenses from Comcast, Time Warner and Bright House earlier this month for $3.6 billion, and this new deal is similar in structure. Verizon Wireless and Cox will sell each other’s residential and commercial products as agents, and Cox may have the option to sell Verizon Wireless service as a wholesale partner in the future. “These agreements provide Cox customers with key enablers to mobility, such as access to Verizon Wireless’ 4G LTE network and iconic wireless devices,” said Cox Communications president Pat Esserin a statement. “We look forward to the many benefits this will bring to customers.” Cox’s full press release follows below.

Cox Communications Announces Agreement to Sell Advanced Wireless Spectrum to Verizon Wireless

Cox and Verizon Wireless will become agents to sell each other’s residential and commercial products

ATLANTA, Dec. 16, 2011 /PRNewswire/ — Cox Communications announced that it has entered into an agreement to sell to Verizon Wireless its 20 MHz Advanced Wireless Services (AWS) spectrum licenses covering 28 million POPs for $315 million. The sale of Cox’s AWS spectrum to Verizon Wireless is an important step to ensure that consumers’ growing demands for mobility will be met. This agreement does not include Cox’s 700 MHz spectrum licenses, the company’s Cox Wireless customer accounts or any other assets.

Separately, 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. In addition, Cox 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.

“These agreements provide Cox customers with key enablers to mobility, such as access to Verizon Wireless’ 4G LTE network and iconic wireless devices,” said Pat Esser, president of Cox Communications. “We look forward to the many benefits this will bring to customers.”

The sale and transfer of Cox’s advanced wireless spectrum to Verizon Wireless is subject to approval by the Federal Communications Commission and review under the Hart-Scott Rodino Act and other customary conditions.

Cox announced last month that it would no longer sell its Cox Wireless service, but would continue to provide service to its wireless customers through March 30, 2012.

Zach Epstein
Zach Epstein Executive Editor

Zach Epstein has been the Executive Editor at BGR for more than 10 years. He manages BGR’s editorial team and ensures that best practices are adhered to. He also oversees the Ecommerce team and directs the daily flow of all content. Zach first joined BGR in 2007 as a Staff Writer covering business, technology, and entertainment.

His work has been quoted by countless top news organizations, and he was recently named one of the world's top 10 “power mobile influencers” by Forbes. Prior to BGR, Zach worked as an executive in marketing and business development with two private telcos.