Cox Communications, the privately held cable operator, said on Friday it has agreed to sell its advanced wireless spectrum to Verizon Communications in a $315 million deal.

The transaction comes after similar Verizon deals between Comcast Corp, Time Warner Cable and Bright House Networks were announced earlier this month.

Like the preceding deals, Cox and Verizon Wireless will sell each other's residential and commercial products. Cox will eventually have the option to sell Verizon Wireless services under the Cox brand.

Cox is also expected to enter into a technology joint venture formed by Verizon Wireless and other cable partners.

(Reporting By Yinka Adegoke)

Broadband