Verizon buys spectrum from Cincinnati Bell for $210M
Cincinnati Bell announced today that it has entered an agreement to sell its spectrum assets to Verizon Wireless in a deal that is valued at $210 million. Cincinnati Bell is going to end its wireless operations as part of the deal, but it will continue operating for 8 to 12 months from the signing of the deal. Verizon is going to pay $194 million in cash for the rights to its spectrum. Cincinnati Bell is going to lease back some of the spectrum it is selling to help with the transition. The deal is expected to close in the second half of the year.