Cablevision To Build Wireless Broadband Network

Just days after Sprint (NYSE: S) and Clearwire (NSDQ: CLWR) announced their WiMax deal, cable TV provider Cablevision (NYSE: CVC) said on Thursday in a conference call to discuss its Q1 earnings that it will spend $350 million to build a wireless broadband network, that would ultimately provide mobile voice services, reports Reuters. The new network will be rolled out in the next two years, and will be accessible by WiFi-enabled devices including laptops and iPhones.

The service will be free to the company's existing internet customers and available for a fee for non-customers. It will use Cablevision's existing network, which will be upgraded at the cost of about $100 per subscriber. The company currently has 3.1 million customers in the New York area. COO Tom Rutledge said the service would help enhance Cablevision's service, and "cement" its relationship with customers for the "long haul." Cable companies are eager to offer wireless internet access, as mobile operators increasingly encroach on their traditional patch with high speed internet products.

Read more on Cablevision's Q1 earnings at paidContent.org.

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