NEW YORK (AP) — Cable company Cox Communications says it has agreed to sell some of its airwave licenses to Verizon Wireless for $315 million and will resell Verizon service in its stores.
The deal mimics that between Verizon Wireless and three other cable companies, struck two weeks ago. Comcast, Time Warner Cable and Bright House Networks gave up their ambitions to run their own wireless network and signed co-marketing agreements with Verizon.
Unlike the other cable companies, Cox had taken steps to use its spectrum. It gave up on its plans to build a wireless network earlier this year, saying it couldn’t compete with bigger cellphone companies.
Privately held Cox is the third-largest cable company in the country. It is based in Atlanta.