April 7, 2014 - Cincinnati Bell (NYSE: CBB), a leader in telecommunications and broadband networking services, today 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 $210 million. Cravath, Swaine & Moore LLP 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 Keith Hallam, Stephanie L. Alexis and James C. Pickel Jr. (corporate) and partners Andrew W. Needham and Christopher K. Fargo (tax).