Cincinnati Bell agrees to $210 million buyout by Verizon
It looks like Cincinnati Bell Wirelesscustomers can consider themselves Verizon subscribers now, as CBWentered into an agreement to sell its spectrum and wirelessinfrastructure to the nation's largest carrier for $210 million. Thedeal is expected to close in the second half of 2014 following thecompulsory regulatory approval. CBW's customers will be handed overto Verizon or other carriers over the next eight to twelve months.CBW's CEO, Ted Torbeck, asserts that its customers need take noaction at this time. Subscribers will be notified about furtherdetails regarding the "transition assistance" around thetime of closing the deal.
Cincinatti Bell, USA's ninth-largestcarrier, will focus on its internet and television services. “Thistransaction is an important step toward increasing focus on ourgrowing strategic product base,” said Torbeck, adding that“this transaction not only ensures that our customers haveaccess to top-tier wireless service, but it also gives us increasedflexibility to meet their growing demand for our Fioptics suite ofproducts.”