Verizon scores new spectrum from SpectrumCo in the tune of $3.6 billion

Verizon has a pretty serious head start in the LTE race. To make sure it stays at the front of the pack, Big Red has entered an agreement with SpectrumCo (a joint venture between Comcast, Time Warner and Bright House) that sees 122 AWS spectrum licenses transferred to the carrier for $3.6 billion and some commercial agreements. The deal will allow the companies to become authorized retailers for each others products, eventually giving the cable companies the ability to offer Verizon Wireless service as wholesalers. For its part, the House that Droid Built scores a boat load of new spectrum that may become crucial in expanding its network and ensuring that speeds don't drop off significantly as more customers transition to 4G. Check out the full PR after the break.

Update: Wondering how this impending love affair affects Comcast and Time Warner's existing deals reselling Clear's mobile broadband? Per CNET, not great, as the duo will gradually shift those using the WiMax provider to alternatives in the next six months.