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