Cincinnati Bell’s Sale of Wireless Spectrum Licenses to Verizon Wireless

On April 7, 2014, Cincinnati Bell, a leader in telecommunications and broadband networking services, announced that it has entered into agreements to sell its wireless spectrum licenses and certain related assets to Verizon Wireless for cash and an assumption of certain Cincinnati Bell liabilities with a total value to Cincinnati Bell of approximately US$210 million. Cravath represented Cincinnati Bell in connection with this transaction, which is expected to close in the second half of 2014, subject to customary closing conditions.

The Cravath team included partners Robert I. Townsend III and William V. Fogg and associates Stephanie L. Alexis and James C. Pickel Jr. on corporate matters and partners Andrew W. Needham and Christopher K. Fargo on tax matters.