14 DAY TRIAL // Major carrier Verizon has just announced it has expanded its Advanced Wireless Spectrum with 122 new licenses that cover 259M POPs for $3.6 billion.
The amount will be spread among the SpectrumCo joint venture companies as follows: Comcast will receive approximately $2.3 billion, Time Warner Cable $1.1 billion, while Bright House Networks will get approximately $189 million.
In addition, the companies announced several new wholesale agreements, which allow SpectrumCo joint venture to sell more services through various channels.
Furthermore, the cable companies and the carrier have teamed up to form a new joint venture for the development of technology that will allow companies to “better integrate wireline and wireless products and services.”
“These agreements, together with our Wi-Fi plans, enable us to execute a comprehensive, long-term wireless strategy and expand our focus on providing mobility to our Xfinity services. We’re excited about this partnership with Verizon Wireless and the future innovations we will bring to consumers,” said Neil Smit, President of Comcast Cable.
Obviously, the transaction that involves the transfer of SpectrumCo advanced wireless spectrum to Verizon Wireless will be subject to approval by the FCC (Federal Communications Commission).
“We’re excited to be able to offer the nation’s best wireless services to our customers and to have Verizon Wireless as a sales channel for our superb wireline services. We’re also pleased to have obtained an attractive price for the spectrum we’re selling,” added Time Warner Cable President and Chief Operating Officer Rob Marcus.
Verizon Wireless also confirmed that it will use the newly acquired spectrum to continue to build its LTE network, which will allow it to bring better 4G LTE products and devices to its customers.
“We are always looking for ways to provide new and exciting product offerings for our customers. We look forward to working with our partners through these agreements toward achieving that end goal to add additional value for our customers,” concluded Bright House Networks CEO Steve Miron.