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Verizon In Talks To Buy Northcoast PCS

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Sep 19, 2002, 1:40 PM by (staff)

The New York Post reported yesterday that Verizon Wireless has held talks with Cablevision about buying the cable operator's wireless assets, according to sources. Cablevision is under intense shareholder pressure to shed assets to cover a $600 million cash shortfall. Verizon Wireless is in the market for new PCS licenses, after the FCC recently announced plans to release the company from $8 billion in comittments for PCS licenses that were never delivered. Cablevision's wireless assets consist of Northcoast PCS, which operates a CDMA PCS network in the Cleveland area, and owns significant additional PCS licenses in Columbus, Boston, and New York.

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