Trying to keep up with the fast-growing demand for bandwidth, Verizon Wireless (VZ, VOD) agrees...

|About: Verizon Communications (VZ)|By:, SA News Editor

Trying to keep up with the fast-growing demand for bandwidth, Verizon Wireless (VZ, VOD) agrees to buy Spectrum and its 122 wireless licenses from Comcast (CMCSA) and Time Warner (TWX) for $3.6B. Comcast's share of the proceeds will be $2.3B; Time Warner's, $1.1B. (PR) Comcast +2.6% premarket.