SpectrumCo, a joint venture of Comcast Corp., Time Warner Cable, Cox Communications, Advance/Newhouse and Sprint Nextel, put up a combined $2.37 billion to win 137 wireless spectrum licenses via the FCC's Advanced Wireless Services (AWS) auction.

Among the cable MSOs, Comcast contributed the lion's share ($1.29 billion), followed by Time Warner's $632.2 million and Cox's $248.3 million.

The resulting licenses will create a national footprint covering major cities such as New York City, Los Angeles and Chicago.

The SpectrumCo partners did not say exactly how they will leverage the spectrum, other than to say that they will leverage it to "evolve their plans for wireless" and that it could come into play with the MSO-Sprint mobile joint venture, which will be in trials in seven markets before year-end.

The spectrum will enable the group "to obtain greater flexibility in developing options for more advanced wireless services. While no plans have as yet been finalized, including no specific plans to build-out the networks at this time, in coming months the members of SpectrumCo will fully evaluate all options including possible testing in limited markets."