Motorola Prowling for Home Networks Buyer Reports

Motorola Inc. (MOT) wants to sell its set-top box assets, along with other properties that make gear for cable and telecom providers, the Wall Street Journal reported on Thursday.

Motorola is said to be exploring a $4.5 billion sale of its home and networks mobility division, with J.P. Morgan Chase and Goldman Sachs Group serving as advisers.

The Journal noted the possible sale comes after Motorola tried to spin off its mobile-phone unit, to no avail. But if Motorola is able to sell the home and networks mobility business, the cash boost could help turn the handset division’s frown upside down.

Motorola wouldn’t comment on the rumored sale but it did tell the Journal it “remains committed” to its plan to split into two businesses consisting of mobile devices and broadband mobility.

The home and networks mobility division reported $10.1 billion in sales last year. In 2009, the unit has become Motorola’s largest as the handset division has continued to decline.

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