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Verizon Wireless Allies With Cable in $3.6 Billion Deal

Verizon Wireless, the largest U.S. mobile-phone carrier, struck an alliance with cable companies that will change how customers buy Internet, mobile and pay-TV services and present new challenges for rivals such as AT&T Inc.

Verizon Wireless will pay the group $3.6 billion for wireless spectrum, the companies said today in a statement. Comcast Corp., the country’s largest cable provider, will receive $2.3 billion, while Time Warner Cable Inc. gets $1.1 billion and Bright House Networks LLC gets $189 million.