Over the last decade, cable companies have done a decent job of picking up ground in the home phone market, and many have attempted to make inroads into selling wireless data services. But it looks like two cable titans have given up their dreams of becoming wireless wonders, as Comcast and Time Warner Cable have sold billions of dollars of spectrum to Verizon Wireless.

The spectrum to be sold is actually held by a Comcast/TWC/Bright House Networks joint venture called SpectrumCo. As part of the arrangement, these companies will be able to offer Verizon Wireless services to their subscribers.

The move by Verizon Wireless (itself a joint venture between Verizon and Vodafone) gives the nation’s largest wireless provider yet another leg up over the competition, as it adds much needed 4G spectrum to VZW’s network.

The deal still requires regulatory review, but this sale is likely to receive significantly less scrutiny than AT&T’s attempt to purchase T-Mobile. That merger would remove a major competitor from the marketplace, whereas Comcast and Time Warner Cable are not viewed as viable competitors in the wireless market.

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