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Verizon Acquires Wireless Spectrum Licenses From Cincinnati Bell for $210 Million

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Cincinnati Bell, a telephone company based out of Ohio, has agreed to sell its rights, titles, and interests in its wireless spectrum licenses to Verizon to the tune of $194 million in cash.

The deal is expected to close in the second half of 2014, and until then, customers of CBW (Cincinnati Bell Wireless) should see no change in service. However, when the deal gets closer to closing, the company states it will assist current customers in transferring their contract agreements to Verizon or another carrier of their choosing. 

CBW’s President and CEO Ted Torbeck gave a brief statement along with the announcement saying, “We appreciate the loyal support from our Cincinnati Bell Wireless customers over the last sixteen years, and we remain committed to providing them with wireless service and support throughout the transition period.”

Cincinnati Bell as a whole has been in operation since 1873, starting out as a telegraph company. For loyal customers, this may be pretty crappy news, but that’s the way the world is sometimes.

Welcome to the dark side.

Via: Cincinnati Bell
  • jason w.s.

    I use Cincinnati Bell for my home WiFi, like a lot of people I know around here, because it’s cheaper than others and has always been great for me. I’m curious to see if this deal will change anything.

  • coolsilver

    Buying more when they keep selling all they got.

    • WickedToby741

      They’ll probably sit on it a while until T-Mobile or Sprint come crawling for it then flip it for a profit.

  • SpikedRed

    If anyone’s been in Kentucky in general with VZW, they should know that coverage isn’t the greatest with Big Red. Usually, traveling down I-65 (a major interstate in KY) leaves much to be desired as you usually only get 3g if you’re lucky. Sometimes, not even that. This can only mean good news for VZW customers.

    • John Darin Holloway

      Don’t know when you traveled I-65 last, but you roam on Bluegrass cellular 4G LTE on the I-65 corridor outside of Louisville. Speeds and coverage on the interstate are fine (off the interstate it is spotty but getting better). I-75 has pockets of garbage coverage south of Lexington but you’ve got more hostile terrain and a jagged border of Bluegrass, Verizon Native and other carriers.

  • WickedToby741

    Pretty sure this is just a move to keep T-Mobile or Sprint’s hands off them. Or simply to resell to them at a higher price.

    • BigMixxx

      Yup, they beat t mobile to it. That’s EXACTLY what it was…

  • Thomas

    Pretty soon the world will be owned by Wal*Mart, Walgreens, & Verizon.

    • poop

      This just in, Walmart and Walgreens purchased by…

    • James

      don’t forget Google

  • Jeremiah Hawkins

    Sign with CB when the S5 comes out at a subsidized price, when deal finishes, leave and go independent. Sell your S5 easily for 400+ and buy the new nexus when it comes out, live.

    • poop

      Life exploits.

    • Youcanprymyunlimitedfrommy

      Sorry, Cincinnati Bell does not utilize Samsung mobile devices.

  • Good_Ole_Pinocchio

    Let’s start talking VOLTE Verizon…

  • Ralph Bretz

    The Galactic Empire continues to grow

    • michael arazan

      This is BS. If companies that have spectrum aren’t able to use the spectrum they have acquired, it should default back to the FCC for them to auction off again. The airwaves are owned by the citizens of the US, NOT the corporations.

  • Ray

    Is that alot of money for one state worth of spectrum?

    • Franklin Ramsey

      That isn’t even a state worth of spectrum. Cincinnati Bell is based out of southeastern Indiana, southwestern Ohio, and northwestern Kentucky. The really strange thing is they are GSM and the official announcement states Verizon is getting the spectrum and assets.

      • MistaButters

        I really doubt they care about the assets. This is all about spectrum.

        Edit: Although they did pull nearly $1.5 billion in revenue last year.

        • WickedToby741

          To be honest, Cincinnati Bell’s customers aren’t really the kind of customers who will embrace Verizon with open arms. You don’t pick a regional carrier because of their coverage, you pick a regional carrier because of price. I think most will bolt to T-Mobile and prepaid brands.

          As for spectrum, Verizon coverage and service was pretty darn good here in the tri-state before I switched to AT&T. This was no doubt a spectrum grab, but not because they needed it. Most likely it was a defensive move to keep it out of competitors’ hands or to use it later in a spectrum swap or sale to one of their competitors like the recent spectrum deal with T-Mobile.

      • Ray

        well LTE is a GSM technology so who knows what their plans are