Davis Polk is advising Comcast Corporation in connection with the $3.6 billion sale by SpectrumCo, LLC of 122 Advanced Wireless Services spectrum licenses to Verizon Wireless. SpectrumCo is a joint venture between Comcast Corporation, Time Warner Cable and Bright House Networks. Comcast owns 63.6% of SpectrumCo and will receive approximately $2.3 billion from the sale. The transaction is subject to approval by the Federal Communications Commission and review under the Hart-Scott Rodino Act and other customary conditions.

Comcast is one of the world’s leading media, entertainment and communications companies. Verizon Wireless operates the nation’s largest 4G LTE network and largest, most reliable 3G network and serves 107.7 million total wireless connections, including 90.7 million retail customers. 

The Davis Polk corporate team includes partners David L. Caplan and William J. Chudd and associates H. Oliver Smith, Pritesh P. Shah and R. Andrew Dickson III. Partners Avishai Shachar and Neil Barr and associate Kay Ng are providing tax advice. Associate Matthew J. Bacal is providing intellectual property advice. Kelsey D. Stevens is the legal assistant on the transaction. All members of the Davis Polk team are based in the New York office.