Home · Mobile Devices · Verizon to Buy Spectrum From Comcast for $3.6B

Verizon to Buy Spectrum From Comcast for $3.6B

Verizon Wireless, the largest U.S. mobile-phone carrier, agreed to buy wireless spectrum from a group including Comcast Corp. for $3.6 billion.

Comcast will get $2.3 billion for the sale, the companies said today in a statement. Other members of the selling group are Time Warner Cable (TWC) Inc., which gets $1.1 billion, and Bright House Networks LLC, which will receive $189 million.

Verizon Wireless and rival AT&T Inc. (T) are seeking to add airwaves as consumers increasingly use mobile devices to watch video and browse the Web, requiring more capacity. AT&T is struggling to gain regulatory approval for its $39 billion acquisition of T-Mobile USA, part of the Dallas-based company’s strategy of gaining spectrum.

12-02-2011 15:57