Cox Communications, the privately-held cable television and high-speed internet powerhouse headquartered in Atlanta, made a bold move this morning by announcing that it plans to launch nationwide wireless service in the second half of 2009. Like many of us, you may be asking "do we really need another national wireless carrier?" Cox apparently thinks so. It's into almost all telecom fields these days: home television, video on demand, high speed internet and home/business telephone service. Why not wireless? The company recently bid $500 million at FCC auctions to buy wireless spectrum in many of its markets. Now is a good of a time as any.It's no surprise. Competitors AT&T, Inc. (NYSE: T) and Verizon Communications, Inc. (NYSE: VZ) are increasingly intruding into Cox's turf by offering television service and high-speed internet using their own nationwide telecom infrastructure. Cox has competed for quite a long time on those offerings, but the willingness of the old Bell companies to get into digital television delivery must have sent Cox over the edge. Add satellite television into the mix and Cox thinks it needs to be a player on every possible platform it can. It's right.
Closing Bell: Can't go up every day (BAC, HE, HPW, COMS, BRCD, WMT, AMD)
Wal-Mart grows profit and cash flow in Q3, but comps still ailing
Chasing Value: Ten stocks for 2010 -- Part 2
