Cable Companies to Resell Verizon Wireless Service

Comcast, Time Warner Cable and Bright House Networks will sell their share of the wireless spectrum to Verizon.

AP: Cable companies Comcast, Time Warner Cable and Bright House Networks have decided to partner with Verizon Wireless instead of pursuing their plans to offer their own wireless services. The three companies will sell their wireless licenses to Verizon for $3.6 million, a 64 percent profit over the purchase price. In addition, the three cable providers will begin reselling Verizon Wireless services to their customers.

As part of the deal, Verizon Wireless will also be able to resell the cable companies' services through its retail stores.

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