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Posted at 01:12 PM ET, 12/16/2011

Verizon, Cox enter spectrum deal

An earlier version of this post said that Verizon struck a deal with Clear Channel earlier this month. Verizon made the deal with Comcast. This post has been corrected.

Verizon Wireless and Cox Communications announced Friday that they have agreed to a deal that would grant Verizon all of Cox’s advanced wireless spectrum in exchange for $315 million and an agreement to sell each other’s services.

The deal is very similar to one that Verizon struck with Comcast, Time Warner and Bright House earlier this month. The deals give the country’s dominant wireless carrier access to spectrum, while its chief rival AT&T struggles to move forward with its bid to acquire T-Mobile to address its own spectrum shortage.

Cox is expected to enter into the arrangement between Verizon Wireless and the other cable companies as well, according to a Friday news release from Cox and Verizon Wireless.

The Washington Post reported that antitrust officials have already expressed concerns about the earlier deal.

The sale and transfer of the spectrum from Cox to Verizon Wireless is subject to FCC approval.

By  |  01:12 PM ET, 12/16/2011

Tags:  Verizon, Spectrum

 
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