Cincinnati Bell Giving Up on Wireless Business, Selling Spectrum to Verizon for $210 Million

After a decade and a half in the cellphone business, Cincinnati Bell is giving up on competing with the big guys and is selling its spectrum licenses to Verizon Wireless for $210 million.

“We appreciate the loyal support from our Cincinnati Bell Wireless customers over the last sixteen years, and we remain committed to providing them with wireless service and support throughout the transition period,” Cincinnati Bell CEO Ted Torbeck said in a statement.

The deal is expected to close in the second half of 2014, and Cincinnati Bell says it expects to continue providing wireless services for the next eight to 12 months.

Current customers don’t have to do anything for the moment, Torbeck added.

The company said in February that it was exploring strategic options for its wireless business.

This article originally appeared on Recode.net.

We have a request

Vox's journalism is free because we believe that everyone deserves to understand the world that they live in. That kind of knowledge helps create better citizens, neighbors, friends, parents, consumers and stewards of this planet. In short, understanding benefits everyone. You can join in on this mission by making a financial gift to Vox today. Reader support helps keep our work free, for everyone. Will you join us?

One-Time Monthly Annual

$95/year

$120/year

$250/year

$350/year

Other

$

Yes, I'll give $120/year

Yes, I'll give $120/year

We accept credit card, Apple Pay, and Google Pay. You can also contribute via