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SpectrumCo to Sell AWS Licenses to Verizon Wireless
As reported today in The Hollywood Reporter and other media sources, Paul, Weiss client Time Warner Cable Inc., along with Comcast Corporation and cable firm Bright House Networks, have agreed to sell the 122 Advanced Wireless Services (AWS) spectrum licences of SpectrumCo, LLC to Verizon Wireless for $3.6 billion. SpectrumCo, LLC is a joint venture of the three cable companies. The companies also struck agreements that will see the cable firms and Verizon sell each other's products.
The Paul, Weiss team advising Time Warner includes, among others, corporate partners Matthew W. Abbott and Robert B. Schumer; tax partner Jeffrey B. Samuels and counsel Alyssa F. Wolpin; and litigation partner Jay Cohen.