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Verizon purchases spectrum worth $210 million from Cincinnati Bell

Verizon Wireless

Verizon Wireless has signed a spectrum deal worth $210 million with regional carrier Cincinnati Bell, which is shutting down its wireless services by the end of the year. As per this deal, Verizon will get access to Cincinnati Bell’s territories in Southwestern Ohio as well as parts of Indiana and Kentucky. The CEO of Cincinnati Bell, Ted Torbeck said – “It has become economically challenging for us to invest in our wireless business at the levels necessary to deliver best-in-class service to our customers,” explaining the move.

The carrier barely has no 4G LTE presence in the region and ranks fifth in the overall regional rankings with Verizon topping the list. So this move makes sense from a lot of angles. Customers of the carrier will still be able to access networks until Spring 2015, so there’s still time before everything shuts down.

This new deal reinstates the popular faction that small carriers are finding it increasingly difficult to sustain in the presence of juggernauts like Verizon, AT&T, Sprint and T-Mobile. Cincinnati Bell boasted of nearly 600,000 customers back in 2007-08, but only had about 340,000 customers as of 2013.

Source: Cincinnati Bell

Via: GigaOM

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