Under the deal, Verizon and SpectrumCo’s three investors - Comcast, Time Warner Cable and Bright House Networks - will be able to offer each other’s services.
Verizon’s announcement follows news from Comcast that it has ended its wholesale mobile services agreement with Sprint and Clearwire and will begin selling Verizon mobile services instead.
The partnership is expected to allow Verizon to compete with AT&T in offering multimedia packages to customers including mobile, television, broadband and fixed-line services.
Verizon will acquire 122 advanced wireless spectrum (AWS) licences in the $3.6 billion SpectrumCo deal, covering a potential 259 million US end users. The deal is subject to approval by the FCC.
