Verizon Wireless To Head For Cable Companies!

Many cable companies that long desired the establishment of their own Wireless service are now being forced to abandon their dreams. All of them have cleared out that the wireless licenses that they had been owned are now being sold to Verizon Wireless for $3.6 billion. Though owned, none of them were being put to actual use.#-Link-Snipped-#
Most of them have created contacts with firms like Sprint Nextel Corp. and Clearwire Corp. to put a trigger to their dreams. News have also reported that many wish to invest into the No. 3 and 4 carriers Sprint or T-Mobile USA to gain access to the wireless market. In any sense it will be a good deal for weaker cable corporations to tie a knot with the leading carrier Verizon Wireless as the task that they were subjected to could get easily fulfilled if the spectrum sale gets approved. U.S. Shares of Deutsche Telekom AG, the parent of T-Mobile USA, were down 25 cents, or 2 percent, at $12.53 in morning trading. Sprint shares were down 1 cent at $2.69. This spectrum is large enough to occupy about 85% of New York and is almost sure to get accent.

Time Warner Cable currently gave a grant to the Clearwire wireless data network naming it as the "4G" service. As the spectrum assures only inclusive users, so the new subscribers are difficult to sail through. Time Warner Cable which ranks as the second largest cable production is expected to earn about $1.1 billion from the contract. Verizon itself owns 55 percent of Verizon Wireless, runs FiOS, it also resells satellite TV service from DirecTV Group Inc. , based in El Segundo, Calif.