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Verizon Communications

Verizon said to be ‘very serious’ about potential Netflix bid

December 13th, 2011

Mediatech Capital managing partner Porter Bibb believes Verizon Communications is seriously considering making a bid for Netflix. Rumors swirled around recently suggesting that Verizon may team up with the kiosk movie rental service Redbox in 2012 to create its own streaming service to compete head-to-head with Netflix, although perhaps Verizon Communications is considering a different …

Verizon and RedBox may be plotting movie streaming partnership for early 2012

December 9th, 2011

On Wednesday we reported on a story that suggested Verizon may be planning to challenge Netflix by launching its own video streaming service. Now, it appears the communications giant is secretly working with RedBox, the popular $1.00 video rental kiosk company, on a streaming service that could launch next year. According to TechCrunch, the plan is currently …

Verizon considered Hulu buy, may challenge Netflix streaming service next year

December 7th, 2011

Verizon CEO Lowell McAdam recently took the stage during a UBS conference in New York where he explained that Verizon once considered purchasing Hulu. McAdam did not comment on another rumor, which suggests that Verizon is working on building its own video streaming service that could compete with the likes of Netflix and Amazon. Reuters first reported …

Verizon Wireless acquires spectrum from Comcast, others for $3.6 billion

December 2nd, 2011

Verizon Wireless announced Friday that it plans to acquire 122 advanced wireless services (AWS) spectrum licenses from SpectrumCo, a joint venture formed by Comcast, Time Warner and Bright House Networks, for $3.6 billion. The spectrum covers 259 million POPs. Comcast owns 63.6% of SpectrumCo and will take home $2.3 billion from the spectrum sale, Time …

Verizon granted injunction against picketers in New Jersey, New York, Pennsylvania and Delaware

August 15th, 2011

Courts in New Jersey, New York, Pennsylvania and Delaware have granted Verizon Communications injunctions against striking union workers who are picketing outside of its corporate offices and retail locations. Specifically, the injunctions are against members of the International Brotherhood of Electrical Workers. Last week, Verizon filed lawsuits against the Communications Workers of America in New …

Verizon sues workers union claiming harassment, sabotage

August 11th, 2011

Verizon Communications has filed lawsuits against the Communications Workers of America union in five states in an effort to limit picketing, the Associated Press reported. In separate filings, the company has accused picketers in New Jersey, New York, Pennsylvania, Massachusetts and Delaware of harassment, sabotage and of blocking access to its facilities. Verizon got a court order …

Verizon adds 872,000 subscribers, doubles profit in fourth quarter

January 25th, 2011

Shares of Verizon Communications stock slid over 1% in after-hours trading Tuesday morning as the company reported its fourth quarter earnings. Despite almost doubling profit from $2.37 billion in the fourth quarter of 2009 to $4.65 billion in 2010, earnings of $0.54 per share missed the Street’s consensus of $0.55 per share and revenue fell …

Verizon Wireless Q3 performance: 6% increase in revenue, 93.2 million customers

October 22nd, 2010

Verizon Communications announced its Q3 2010 earnings this morning and, buried in that spreadsheet, are the results for the Vodafone, Verizon joint venture that is Verizon Wireless. The company reported 997,000 net additions for the quarter along with a minuscule retail postpaid churn of 1.07%. Total revenue increased by 6% from the third quarter of last year and …

Verizon reorganizes executives; CFO, CEO, COO positions shuffled

September 20th, 2010

Today, Verizon announced a top-level, executive-role shuffle to the general public. Beginning on October 1, Dan Mead, current executive vice president and COO of Verizon Wireless, will assume the role of president and CEO of Verizon Wireless. Lowell McAdam, who is currently in the VZW president and CEO role, will move to president and COO …

Verizon Wireless Q2, data revenue up 23.8%, 92.1 million customers

July 23rd, 2010

Verizon Communications, Inc. has just announced their Q2 earnings, and included in the massive statement is the results for Verizon Wireless (a venture owned by both Verizon Communications and Vodafone). What did Q2 look like for Big Red? Well, Verizon Wireless posted revenues of $16 billion (up 3.4% YoY), had an operating margin of 30.3% …