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Verizon Communications (VZ)

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  • Apr. 2, 2013, 2:32 PM
    Verizon Wireless (VZ, VOD) has purchased Frontier (FTR) and Rio Virgin Telephone's ownership stakes in Mohave Wireless, a rural 3G carrier operating in Arizona. Verizon, whose 4G LTE network covers nearly 89% of the U.S. population, says it will upgrade Mohave's network to 4G, now that it fully owns the carrier. Terms of the deal haven't been disclosed.
  • Apr. 2, 2013, 5:26 AM
    Verizon Communications (VZ) and AT&T (T) have reportedly been working on a $245B breakup bid for Vodafone (VOD) whereby Verizon would realize its long-held dream of gaining full control of Verizon Wireless and AT&T would obtain Vodafone's non U.S. assets. "Usually reliable people" tell the FT that Verizon and AT&T would offer 260p a share in what would be the biggest takeover in history. Vodafone shares are +4.8% at 195.64 pence in London.
  • Apr. 1, 2013, 4:21 PM
    A U.S district court has granted class-action status to a suit contesting the sale of 41K Verizon (VZ) pension plans (total obligations of $8.5B) to Prudential (PRU). The plaintiffs argue the deal "replaces retirees' pensions with non-ERISA protected insurance annuities, thus stripping participants of the protections of federal law and causing irreparable harm."
  • Mar. 31, 2013, 3:37 AM
    Verizon (VZ) has been sued in New York State Supreme Court for $2.85B over the collapse of SuperMedia (SPMD), the directory company that the telecom operator spun off in 2006. The lawsuit contends that SuperMedia, which was known as Idearc, was so indebted that it was insolvent and bound to fail. However, a federal judge in Texas has already said that Verizon would probably win a lawsuit over Idearc's spin-off.
  • Mar. 28, 2013, 12:53 PM
    AT&T (T) will sell Samsung's (SSNLF.PK) Galaxy S IV for $250 with a 2-year contract. Pre-orders start on April 16, but no release date has been announced yet. The S IV's price is $50 above that of the 16GB iPhone 5, and drives home Ma Bell's efforts to lower margin-depressing phone subsidies. Verizon (VZ), which has a habit of following AT&T's lead (and vice versa), could follow suit.
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  • Mar. 25, 2013, 9:13 AM
    Vodafone (VOD) +2.6% after The Sunday Times reports the carrier is "leaning towards making a clean break" with Verizon (VZ), and that a Verizon Wireless deal could happen by summer. Talks are said to be "fluid and free-form," with Verizon shareholders standing in the way of a full-blown merger out of concerns about Vodafone's European ops. The paper also claims Vodafone execs have privately told investors they can "mitigate or eliminate" Vodafone's capital gains tax bill. (previous)
  • Mar. 22, 2013, 12:34 PM
    FCC chairman Julius Genachowski confirms he's resigning. He'll be leaving the commission "in the coming weeks" after holding its top job for nearly 4 years, and his departure will result in 2 of its 5 seats being unfilled. Of the 3 that remain, 2 are Democrats and 1 is a Republican. Genachowski departs as the FCC continues to draw up plans for 2014 spectrum auctions meant to address soaring mobile data usage. (yesterday)
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  • Mar. 21, 2013, 8:10 PM
    FCC chairman Julius Genachowski will announce tomorrow he's stepping down, the WSJ reports. AT&T (T) and Verizon (VZ) might be pleased to see him go: worried about the telcos achieving near-duopoly status in the U.S. mobile market, Genachowski helped derail the AT&T/T-Mobile USA merger and required major concessions from Verizon before signing off on its cable spectrum purchases. He has also been a supporter of municipal broadband projects, which AT&T and other incumbents have tried to derail.
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  • Mar. 18, 2013, 11:27 AM
    Citi is excited by reports of Verizon (VZ +1.2%) attempting to buy out Vodafone's (VOD +1.4%) 45% stake in Verizon Wireless: analyst Michael Rollins has upgraded the carriers to Buy, and states a deal would yield "significant EPS and FCF accretion to Verizon in the first year under most of the scenarios we explored." Others on the Street think likewise.
  • Mar. 18, 2013, 10:41 AM
    Verizon (VZ) has joined Cablevision in wanting a shakeup of the pay-TV industry's structure: Big Red says it's talking with several "midtier and smaller" TV network owners about paying for channels based on how many subscribers watch, rather than the number of covered homes. Verizon's efforts, which it says would allow it to offer a bigger lineup of niche channels, aren't as dramatic as Cablevision's attempts to end to channel bundling. But they still underscore industry discontent with having to pay per-user fees for less popular channels from media giants such as Viacom (VIA) and Disney (DIS), regardless of viewing activity.
  • Mar. 15, 2013, 4:17 PM
    AT&T (T) could acquire Vodafone's (VOD) non-U.S. assets if reported talks between Verizon (VZ) and Vodafone lead to a merger, thinks BofA/Merrill. Analyst David Barden estimates $70B would be enough for AT&T, which has made its interest in foreign expansion clear, to buy Vodafone's giant collection of international mobile properties. (tower sales)
  • Mar. 15, 2013, 12:26 PM
    With its cable spectrum purchases on the books, Verizon Wireless (VZ, VOD) is planning to build 5K 4G cell sites this year in the AWS band, whose airwaves feature less range but more bandwidth than those in the 700 MHz. band where Verizon's 4G buildout has taken place. The expansion suggests Verizon is now focused on improving 4G capacity/speeds rather than coverage (where it has an edge). Separately, Wells Fargo says checks indicate Verizon is taking share from AT&T (T), that both are taking share from Sprint (S), and that Sprint is taking share from T-Mobile.
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  • Mar. 14, 2013, 6:09 PM
    VentureBeat provides some additional detail on the Redbox Instant (CSTR, VZ) launch. Standalone access to Instant's streaming will cost just $6/month ($2/month cheaper than Netflix, but for a much smaller library), and credits good for 4 Redbox rentals/month can be tacked on for an extra $2/month - provided the credits are used, that's a 58% discount from Redbox's normal $1.20/title.  "Hundreds of thousands" of people are said to have signed up during a 3-month testing period.
  • Mar. 14, 2013, 5:19 PM
    Redbox Instant (CSTR, VZ) has finally launched. The service, initially slated to go live in Q4 '12, offers access to 4.6K titles and 4 Redbox DVD rentals for $8/month. Another 4K movies are available for renting/purchasing. Original programming might be offered at some point, but CEO Shawn Strickland considers speculation on this front "really premature." For the time being, Instant's content library is much smaller than Netflix's (NFLX), and so is the breadth of its hardware ecosystem  - will the Redbox DVDs be enough to get Netflix subs to defect?
  • Mar. 13, 2013, 3:52 PM
    BlackBerry (BBRY +8.3%) has received an order for 1M BB10 phones from one of its "established partners" (exactly whom remains a mystery). The announcement has sent shares flying higher over the final hour of trading. Also: Verizon (VZ) says it will begin selling the Z10 on March 28, and will start taking pre-orders tomorrow. As was rumored, the carrier will have exclusive access to a white version of the device.
  • Mar. 11, 2013, 7:59 AM
    Redbox (CSTR) and Verizon (VZ) could be looking to break into original programming. At a recent tech symposium, a Creative Artists Agency lawyer tipped off that the companies have been inquiring about programming opportunities. If the report pans out, it makes for beefier streaming competition for Netflix (NFLX) and Amazon (AMZN).
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Company Description
Verizon Communications Incis a provider of communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its two segments are Wireless and Wireline.