Under the new arrangement, Comcast will be able to offer Verizon Wireless’s services, and will no longer sell 3G and 4G services from Sprint and Clearwire.
The relationship with Sprint and Clearwire will wind down over the next six months, with Comcast expected to start selling Verizon services early next year. Comcast has around 30,000 customers at present receiving a Sprint or Clearwire service.
Verizon has just announced the purchase of advanced wireless spectrum licences from joint venture SpectrumCo, part-owned by Comcast, for $3.6 billion as well as a number of agreements which will allow all parties to become agents to sell each other’s products.
Comcast owns 63.6% of the venture and will receive approximately $2.3 billion from the deal. The other partners are Time Warner Cable and Brighthouse Networks. The deal is subject to the approval by the Federal Communications Commission and review under the Hart-Scott Rodino Act.
