Created on Monday, 07 April 2014 Written by THE ASSOCIATED PRESS
CINCINNATI (AP) — Cincinnati Bell says it has agreed to sell its wireless service to Verizon Wireless in a deal worth about $210 million.
The company and New York-based Verizon said Monday that Cincinnati Bell will continue wireless service for the next eight months to a year while the deal closes. The sale is subject to regulatory approval by the Federal Communications Commission.
Cincinnati Bell says it will notify customers with more details around the closing that is expected in the second half of 2014.
The company is selling its wireless spectrum licenses for about $194 million, with Verizon also assuming some tower lease obligations.
Cincinnati Bell CEO Ted Torbeck says the deal allows the company to focus more on products including high-speed Internet, and voice and entertainment services for businesses and consumers.