Verizon Communications Inc., commonly known as Verizon, is an American multinational
telecommunications
Telecommunication is the transmission of information by various types of technologies over wire, radio, optical, or other electromagnetic systems. It has its origin in the desire of humans for communication over a distance greater than that fe ...
conglomerate and a corporate component of the
Dow Jones Industrial Average
The Dow Jones Industrial Average (DJIA), Dow Jones, or simply the Dow (), is a stock market index of 30 prominent companies listed on stock exchanges in the United States.
The DJIA is one of the oldest and most commonly followed equity inde ...
. The company is headquartered at
1095 Avenue of the Americas
1095 Avenue of the Americas is a skyscraper in the Midtown Manhattan neighborhood of New York City. It was constructed from 1971 to 1973 as headquarters of New York Telephone and has 41 floors. The building also served as the headquarters of ...
New York City
New York, often called New York City or NYC, is the most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the most densely populated major city in the Un ...
, but is
incorporated in Delaware
The Delaware General Corporation Law (Title 8, Chapter 1 of the Delaware Code) is the statute of the Delaware Code that governs corporate law in the U.S. state of Delaware. Adopted in 1899, the statute has since seen Delaware become the most imp ...
.
The company was formed in 1984 as Bell Atlantic as part of the break up of the Bell System into seven companies, each a
Regional Bell Operating Company
The Regional Bell Operating Companies (RBOC) are the result of '' United States v. AT&T'', the U.S. Department of Justice antitrust suit against the former American Telephone & Telegraph Company (later known as AT&T Corp.). On January 8, 1 ...
(RBOC), commonly referred to as "Baby Bells". Headquartered in
Philadelphia
Philadelphia, often called Philly, is the List of municipalities in Pennsylvania#Municipalities, largest city in the Commonwealth (U.S. state), Commonwealth of Pennsylvania, the List of United States cities by population, sixth-largest city i ...
, it originally had an operating area from New Jersey to Virginia.
In 1997, Bell Atlantic expanded into New York and the New England states by merging with fellow Baby Bell
NYNEX
NYNEX Corporation was an American telephone company that served five states of New England (Maine, Massachusetts, New Hampshire, Rhode Island and Vermont) as well as most of the state of New York from January 1, 1984 to August 14, 1997.
Histor ...
. While Bell Atlantic was the surviving company, the merged company moved its headquarters from Philadelphia to NYNEX's old headquarters in New York City. In 2000, Bell Atlantic acquired
GTE
GTE Corporation, formerly General Telephone & Electronics Corporation (1955–1982), was the largest independent telephone company in the United States during the days of the Bell System. The company operated from 1926, with roots tracing furth ...
, which operated telecommunications companies across most of the rest of the country not already in Bell Atlantic's footprint. Bell Atlantic, the surviving entity, changed its name to Verizon, a
portmanteau
A portmanteau word, or portmanteau (, ) is a blend of wordshorizon''.
In 2015, Verizon expanded into content ownership by acquiring AOL, and two years later, it acquired Yahoo! Inc. AOL and Yahoo were amalgamated into a new division named Oath Inc., which was rebranded as Verizon Media in January 2019, and was spun off and rebranded to
Yahoo
Yahoo! (, styled yahoo''!'' in its logo) is an American web services provider. It is headquartered in Sunnyvale, California and operated by the namesake company Yahoo Inc., which is 90% owned by investment funds managed by Apollo Global Manage ...
after its sale to Apollo Global Management.
, Verizon is one of three remaining companies with roots in the former Baby Bells. The other two, like Verizon, exist as a result of mergers among fellow former Baby Bell members. SBC Communications bought the Bells' former parent AT&T Corporation and took on the
AT&T
AT&T Inc. is an American multinational telecommunications holding company headquartered at Whitacre Tower in Downtown Dallas, Texas. It is the world's largest telecommunications company by revenue and the third largest provider of mobile te ...
name, and
CenturyLink
Lumen Technologies, Inc. (formerly CenturyLink) is an American
telecommunications company headquartered in Monroe, Louisiana, that offers communications, network services, security, cloud solutions, voice, and managed services. The company is ...
acquired
Qwest
Qwest Communications International, Inc. was a United States telecommunications carrier. Qwest provided local service in 14 western and midwestern U.S. states: Arizona, Colorado, Idaho, Iowa, Minnesota, Montana, Nebraska, New Mexico, North Dako ...
(formerly
US West
US West, Inc. (stylized as US WEST) was one of seven Regional Bell Operating Companies (RBOCs, also referred to as "Baby Bells"), created in 1983 under the Modification of Final Judgement (''United States v. Western Electric Co., Inc.'' 552 ...
) in 2011 and later became
Lumen Technologies
Lumen Technologies, Inc. (formerly CenturyLink) is an American
telecommunications company headquartered in Monroe, Louisiana, that offers communications, network services, security, cloud solutions, voice, and managed services. The company is a ...
In 1983, the US Department of Justice came to a settlement with
AT&T Corporation
AT&T Corporation, originally the American Telephone and Telegraph Company, is the subsidiary of AT&T Inc. that provides voice, video, data, and Internet telecommunications and professional services to businesses, consumers, and government agen ...
to breakup the Bell System. Bell Atlantic Corporation was created as one of the original "Baby Bell" Regional Bell Operating Companies (RBOCs) in 1984.
Bell Atlantic's original roster of operating companies included:
* The Bell Telephone Company of Pennsylvania
* New Jersey Bell
*Diamond State Telephone
*
C&P Telephone
The Chesapeake and Potomac Telephone Company, usually known as C&P Telephone, is a former d/b/a name for four Bell Operating Companies providing service to Washington, D.C., Maryland, West Virginia, and Virginia.
Today, three of the companies ...
(itself comprising four subsidiaries)
In 1996, CEO and Chairman Raymond W. Smith orchestrated Bell Atlantic's merger with
NYNEX
NYNEX Corporation was an American telephone company that served five states of New England (Maine, Massachusetts, New Hampshire, Rhode Island and Vermont) as well as most of the state of New York from January 1, 1984 to August 14, 1997.
Histor ...
. When it merged, it moved its corporate headquarters from Philadelphia to New York City. NYNEX was consolidated into the Bell Atlantic name by 1997.
Merger of equals (2000–2002)
Bell Atlantic changed its name to Verizon Communications in June 2000, when the
Federal Communications Commission
The Federal Communications Commission (FCC) is an independent agency of the United States federal government that regulates communications by radio, television, wire, satellite, and cable across the United States. The FCC maintains jurisdicti ...
approved the US$64.7 billion merger with telephone company GTE, nearly two years after the deal was proposed in July 1998. The approval came with 25 stipulations to preserve competition between local phone carriers, including investing in new markets and
broadband
In telecommunications, broadband is wide bandwidth data transmission which transports multiple signals at a wide range of frequencies and Internet traffic types, that enables messages to be sent simultaneously, used in fast internet connections. ...
technologies. The new entity was headed by co-CEOs Charles Lee, former CEO of
GTE
GTE Corporation, formerly General Telephone & Electronics Corporation (1955–1982), was the largest independent telephone company in the United States during the days of the Bell System. The company operated from 1926, with roots tracing furth ...
, and Bell Atlantic CEO
Ivan Seidenberg
Ivan Seidenberg (born December 10, 1946) is the former chairman and CEO of Verizon Communications Inc.
His telecommunications career began more than 40 years ago when he joined New York Telephone, one of Verizon's predecessor companies, as a cabl ...
.
Verizon became the largest local telephone company in the United States, operating 63 million telephone lines in 40 states. The company also inherited 25 million mobile phone customers. Additionally, Verizon offered internet services and long-distance calling in New York, before expanding long-distance operations to other states.
The name Verizon derives from the combination of the words ', Latin for truth, and horizon. The name was chosen from 8,500 candidates and the company spent $300 million on marketing the new brand.
Two months before the FCC gave final approval on the formation of Verizon Communications, Bell Atlantic formed Verizon Wireless in a
joint venture
A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and economic risk, risks, and shared governance. Companies typically pursue joint ventures for one of four rea ...
with the British telecommunications company
Vodafone
Vodafone Group plc () is a British multinational telecommunications company. Its registered office and global headquarters are in Newbury, Berkshire, England. It predominantly operates services in Asia, Africa, Europe, and Oceania.
, Vod ...
on April 4, 2000. The companies established Verizon Wireless as its own business operated by Bell Atlantic, which owned 55% of the venture. Vodafone retained 45% of the company. The deal was valued at approximately $70 billion and created a mobile carrier with 23 million customers. Verizon Wireless merged Bell Atlantic's wireless network, Vodafone's AirTouch and PrimeCo holdings, and the wireless division of GTE. Due to its size, Verizon Wireless was able to offer national coverage at competitive rates, giving it an advantage over regional providers typical of the time.
During its first operational year, Verizon Wireless released
Mobile Web
The mobile web refers to mobile browser-based World Wide Web services accessed from handheld mobile devices, such as smartphones or feature phones, through a mobile or other wireless network.
History and development
Traditionally, the World ...
, an Internet service that allowed customers to access partner sites such as E*Trade,
ABC News
ABC News is the news division of the American broadcast network ABC. Its flagship program is the daily evening newscast ''ABC World News Tonight, ABC World News Tonight with David Muir''; other programs include Breakfast television, morning ...
,
ESPN
ESPN (originally an initialism for Entertainment and Sports Programming Network) is an American international basic cable sports channel owned by ESPN Inc., owned jointly by The Walt Disney Company (80%) and Hearst Communications (20%). Th ...
,
Amazon.com
Amazon.com, Inc. ( ) is an American multinational technology company focusing on e-commerce, cloud computing, online advertising, digital streaming, and artificial intelligence. It has been referred to as "one of the most influential econo ...
,
Ticketmaster
Ticketmaster Entertainment, Inc. is an American ticket sales and distribution company based in Beverly Hills, California with operations in many countries around the world. In 2010, it merged with Live Nation under the name Live Nation Enter ...
, and MSN, as well as the "New Every Two" program, which gave customers a free phone with every two-year service contract (this program was shut down in 2011). In another partnership with MSN in 2002, Verizon Wireless launched the mobile content service VZW with MSN and a phone that utilized the Microsoft Windows operating system.
In August 2000, approximately 85,000 Verizon workers went on an 18-day labor strike after their union contracts expired. The strike affected quarterly revenues, resulting in Verizon Wireless' postponement of the company's initial public offering (IPO) (the IPO was ultimately cancelled in 2003 because the company no longer needed to raise revenue for Verizon Wireless due to increased profits),TeleGeography. Verizon posts USD2.3 billion profit surge; cancels wireless IPO ." January 30, 2003. Retrieved December 17, 2015. and created a backlog of repairs. This strike did not involve all company employees, as mostly line technicians and user technicians of the company are union.
Verizon launched 3G service in 2002, which doubled the Internet speed of the time to 144kb per second. In August 2002, Verizon began offering local, long-distance and mobile calling, as well as Internet service, in a bundle. It was initially only available to customers in New York and Massachusetts.
2003–2005
In June 2003, Verizon Wireless backed an FCC-issued portability requirement that permitted consumers to take their phone numbers with them across carriers. The company gained 1.5 million new subscribers the following quarter, partially due to the rule change. In April 2004, the
Dow Jones Industrial Average
The Dow Jones Industrial Average (DJIA), Dow Jones, or simply the Dow (), is a stock market index of 30 prominent companies listed on stock exchanges in the United States.
The DJIA is one of the oldest and most commonly followed equity inde ...
added Verizon Communications to its stock market index. Verizon replaced telecom competitor AT&T, which had been a part of the index since the Great Depression.
On December 22, 2004,
mail server
Within the Internet email system, a message transfer agent (MTA), or mail transfer agent, or mail relay is software that transfers electronic mail messages from one computer to another using SMTP. The terms mail server, mail exchanger, and MX host ...
s at Verizon.net were configured not to accept connections from Europe by default in an attempt to reduce
spam email
Email spam, also referred to as junk email, spam mail, or simply spam, is unsolicited messages sent in bulk by email (spamming).
The name comes from a Monty Python sketch in which the name of the canned pork product Spam is ubiquitous, unavoida ...
that was originating from the region. Individual domains would only be unblocked upon request.
In 2004, Verizon launched its Fios Internet service, which transmits data over
fiber optic
An optical fiber, or optical fibre in Commonwealth English, is a flexible, transparent fiber made by drawing glass (silica) or plastic to a diameter slightly thicker than that of a human hair. Optical fibers are used most often as a means t ...
cables, in
Keller, Texas
Keller is a city in Tarrant County, Texas, in the Dallas–Fort Worth metroplex. According to the 2020 census, the city's population is 45,776, making Keller the 71st most populated city in Texas. The most recent population estimate, as of Ju ...
. The company launched Fios TV in September 2005, also in Keller. Twenty percent of qualified homes had signed up by the end of 2004. By January 2006, Fios offered over 350 channels in eight states, including 20
high-definition television
High-definition television (HD or HDTV) describes a television system which provides a substantially higher image resolution than the previous generation of technologies. The term has been used since 1936; in more recent times, it refers to the g ...
channels and
video on demand
Video on demand (VOD) is a media distribution system that allows users to access videos without a traditional video playback device and the constraints of a typical static broadcasting schedule. In the 20th century, broadcasting in the form of ...
.
In 2005, Verizon launched VCast, a multimedia service that allowed people to download apps, music, ringtones, and videos.
MCI acquisition
In 2005, Verizon began negotiations to purchase long-distance carrier MCI, who accepted the company's initial $6.75 billion offer in February but then received a higher offer from
Qwest Communications
Qwest Communications International, Inc. was a United States telecommunications carrier. Qwest provided local service in 14 western and midwestern U.S. states: Arizona, Colorado, Idaho, Iowa, Minnesota, Montana, Nebraska, New Mexico, North Dako ...
. Verizon increased its bid to $7.6 billion (or $23.50 a share), which MCI accepted on March 29, 2005. The acquisition gave the company access to MCI's million corporate clients and international holdings, expanding Verizon's presence into global markets. As a result,
Verizon Business
Verizon Business (formerly known as Verizon Enterprise Solutions) is a division of Verizon Communications based in Basking Ridge, New Jersey that provides services and products for Verizon's business and government clients around the world.
I ...
was established as a new division to serve the company's business and government customers. The FCC approved the deal on November 5, 2005, valuing it at $8.5 billion. Verizon's 2006 revenues rose by as much as 20% following the purchase.
2006–2010
In May 2006, ''
USA Today
''USA Today'' (stylized in all uppercase) is an American daily middle-market newspaper and news broadcasting company. Founded by Al Neuharth on September 15, 1982, the newspaper operates from Gannett's corporate headquarters in Tysons, Virgi ...
'' reported that Verizon, as well as AT&T and
BellSouth
BellSouth, LLC (stylized as ''BELLSOUTH'' and formerly known as BellSouth Corporation) was an American telecommunications holding company based in Atlanta, Georgia. BellSouth was one of the seven original Regional Bell Operating Companies after ...
, had given the
National Security Agency
The National Security Agency (NSA) is a national-level intelligence agency of the United States Department of Defense, under the authority of the Director of National Intelligence (DNI). The NSA is responsible for global monitoring, collect ...
landline
A landline (land line, land-line, main line, home phone, fixed-line, and wireline) is a telephone connection that uses metal wires or optical fiber telephone line for transmission, as distinguished from a mobile cellular network, which uses ...
phone records following the
September 11 attacks
The September 11 attacks, commonly known as 9/11, were four coordinated suicide terrorist attacks carried out by al-Qaeda against the United States on Tuesday, September 11, 2001. That morning, nineteen terrorists hijacked four commer ...
. That same month, a $50 billion lawsuit was filed by two lawyers on behalf of all Verizon subscribers for privacy violations and to prevent the company from releasing additional records without consent or warrant. Protesters staged the National Day of Out(R)age due in part to the controversy. In 2007, Verizon stated that it fulfilled only "lawful demands" for information, but also acknowledged surrendering customer information to government agencies without court orders or warrants 720 times between 2005 and 2007.
In February 2007, Verizon added a new service to V Cast called V Cast Mobile TV, which took advantage of Verizon's multiple cellular technologies (such as EV-DO) allowing people with high-end devices to watch TV on their device.
In March 2007, Verizon won a lawsuit against
Vonage
Vonage (, legal name Vonage Holdings Corp.) is an American cloud communications provider operating as a subsidiary of Ericsson. Headquartered in Holmdel Township, New Jersey, the organization was founded in 1998 as ''Min-X'' as a provider of resi ...
for patent infringement. The three patents named were filed by Bell Atlantic in 1997, and relate to the conversion of IP addresses into phone numbers, a key technology of Vonage's business. The company was awarded US$58 million in damages and future royalties. Vonage later lost an appeal and was ordered to pay Verizon $120 million.
In May 2007, Verizon acquired Cybertrust, a privately held provider of global information security services.
In September 2007, Verizon Wireless reversed a controversial decision to deny
NARAL Pro-Choice America
NARAL Pro-Choice America, commonly known as simply NARAL ( ), is a non-profit 501(c)(4) organization in the United States that engages in lobbying, political action, and advocacy efforts to oppose restrictions on abortion, to expand access to ...
a short code through which the organization could
text
Text may refer to:
Written word
* Text (literary theory), any object that can be read, including:
**Religious text, a writing that a religious tradition considers to be sacred
**Text, a verse or passage from scripture used in expository preachin ...
consumers who had signed up for messaging from the group. The company had initially refused the group access to a code by reserving the right to block "controversial or unsavory" messages.
In November 2007, Verizon opened its networks to third party apps and devices for the first time, a decision that allowed it to participate in the FCC's 2008 700 MHz auction of "open access" spectrum. During that auction, the company bid $9.4 billion and won the bulk of national and local licenses for airwaves reaching approximately 469 million people. Verizon utilized the increased spectrum for its 4G service.
In June 2008, Verizon Wireless purchased wireless carrier Alltel for $28.1 billion. The acquisition included 13 million customers, which allowed Verizon Wireless to surpass AT&T in number of customers and reach new markets in rural areas.
In October 2010, Verizon Wireless paid $77.8 million in refunds and FCC penalties for overcharging 15 million customers for data services. The company stated the overcharges were accidental and only amounted to a few dollars per customer.
On February 4, 2010,
4chan
4chan is an anonymous English-language imageboard website. Launched by Christopher "moot" Poole in October 2003, the site hosts boards dedicated to a wide variety of topics, from anime and manga to video games, cooking, weapons, television, ...
began receiving reports from Verizon Wireless customers that they were having difficulties accessing the site's image boards. Administrators of the site found that only traffic on port 80 to the boards.4chan.org domain was affected, leading them to believe the block was intentional. On February 7, 2010, Verizon Wireless confirmed that 4chan.org was "explicitly blocked" after Verizon's security and external experts detected sweep attacks coming from an IP address associated with the 4chan network. Traffic was restored several days later.
In August 2010, the chairmen of Verizon and Google agreed that
network neutrality
Network neutrality, often referred to as net neutrality, is the principle that Internet service providers (ISPs) must treat all Internet communications equally, offering users and online content providers consistent rates irrespective of co ...
should be defined and limited.
In December 2010, Verizon introduced its 4GLTE network in 38 markets, as well as airports in seven additional cities. The company planned on a three-year continuous expansion of the 4G service.
Selling wirelines (2005–2010 & 2015)
Between 2005 and 2010, Verizon divested wireline operations in several states in order to focus on its wireless, Fios internet and Fios TV businesses. It sold 700,000 lines in Hawaii in 2005, and spun off lines in Maine, New Hampshire and Vermont in January 2007, which were then purchased by
FairPoint Communications
FairPoint Communications, Inc. was headquartered in Charlotte, North Carolina, and operated communication services in 31 markets in 17 states, mostly in rural areas.
FairPoint services include local and long distance phone service, data, Interne ...
for $2.72 billion. Verizon also shed its telephone directory business in 2006.
In May 2009, the company spun off wirelines in
Arizona
Arizona ( ; nv, Hoozdo Hahoodzo ; ood, Alĭ ṣonak ) is a state in the Southwestern United States. It is the 6th largest and the 14th most populous of the 50 states. Its capital and largest city is Phoenix. Arizona is part of the Fou ...
,
Idaho
Idaho ( ) is a state in the Pacific Northwest region of the Western United States. To the north, it shares a small portion of the Canada–United States border with the province of British Columbia. It borders the states of Montana and Wyomi ...
,
Illinois
Illinois ( ) is a state in the Midwestern United States. Its largest metropolitan areas include the Chicago metropolitan area, and the Metro East section, of Greater St. Louis. Other smaller metropolitan areas include, Peoria and Rockf ...
,
Indiana
Indiana () is a U.S. state in the Midwestern United States. It is the 38th-largest by area and the 17th-most populous of the 50 States. Its capital and largest city is Indianapolis. Indiana was admitted to the United States as the 19th s ...
,
Michigan
Michigan () is a U.S. state, state in the Great Lakes region, Great Lakes region of the Upper Midwest, upper Midwestern United States. With a population of nearly 10.12 million and an area of nearly , Michigan is the List of U.S. states and ...
,
Nevada
Nevada ( ; ) is a state in the Western region of the United States. It is bordered by Oregon to the northwest, Idaho to the northeast, California to the west, Arizona to the southeast, and Utah to the east. Nevada is the 7th-most extensive, ...
,
North Carolina
North Carolina () is a state in the Southeastern region of the United States. The state is the 28th largest and 9th-most populous of the United States. It is bordered by Virginia to the north, the Atlantic Ocean to the east, Georgia and ...
,
Ohio
Ohio () is a state in the Midwestern region of the United States. Of the fifty U.S. states, it is the 34th-largest by area, and with a population of nearly 11.8 million, is the seventh-most populous and tenth-most densely populated. The sta ...
,
Oregon
Oregon () is a state in the Pacific Northwest region of the Western United States. The Columbia River delineates much of Oregon's northern boundary with Washington, while the Snake River delineates much of its eastern boundary with Idaho. T ...
,
South Carolina
)'' Animis opibusque parati'' ( for, , Latin, Prepared in mind and resources, links=no)
, anthem = " Carolina";" South Carolina On My Mind"
, Former = Province of South Carolina
, seat = Columbia
, LargestCity = Charleston
, LargestMetro = ...
,
Washington
Washington commonly refers to:
* Washington (state), United States
* Washington, D.C., the capital of the United States
** A metonym for the federal government of the United States
** Washington metropolitan area, the metropolitan area centered o ...
,
West Virginia
West Virginia is a state in the Appalachian, Mid-Atlantic and Southeastern regions of the United States.The Census Bureau and the Association of American Geographers classify West Virginia as part of the Southern United States while the B ...
, and
Wisconsin
Wisconsin () is a state in the upper Midwestern United States. Wisconsin is the 25th-largest state by total area and the 20th-most populous. It is bordered by Minnesota to the west, Iowa to the southwest, Illinois to the south, Lake M ...
into a company that then merged with
Frontier Communications
Frontier Communications Parent, Inc. (known as Citizens Utilities Company until May 2000 and Citizens Communications Company until July 31, 2008) is an American telecommunications company. The company previously served primarily rural areas and s ...
in a deal valued at $8.6 billion. In 2016, Verizon sold its wireline operations in Texas, Florida, and California to Frontier.
2011–present
On January 27, 2011, Verizon acquired Terremark, an information technology services company, for $1.4 billion. Ivan Seidenberg retired as Verizon's CEO on August 1, 2011, and was succeeded by
Lowell McAdam
Lowell Clayton McAdam (born May 28, 1954) is an American businessman. He is the former chairman and CEO of Verizon Communications, a company he joined in 2000.
Early life
McAdam earned a bachelor's degree in engineering from Cornell Universit ...
.
In December 2011, the non-partisan organization
Public Campaign
Every Voice is an American nonprofit, progressive liberal political advocacy organization.
criticized Verizon for its
tax avoidance
Tax avoidance is the legal usage of the tax regime in a single territory to one's own advantage to reduce the amount of tax that is payable by means that are within the law. A tax shelter is one type of tax avoidance, and tax havens are jurisdi ...
procedures after it spent $52.34 million on
lobbying
In politics, lobbying, persuasion or interest representation is the act of lawfully attempting to influence the actions, policies, or decisions of government officials, most often legislators or members of regulatory agencies. Lobbying, which ...
while collecting $951 million in tax rebates between 2008 and 2010 and making a profit of $32.5 billion. The same report also criticized Verizon for increasing executive pay by 167% in 2010 for its top five executives while laying off 21,308 workers between 2008 and 2010. However, in its Form 10-K filed with the SEC on February 24, 2012, Verizon reported having paid more than $11.1 billion in taxes (including income, employment and property taxes) from 2009 to 2011. In addition, the company reported in the 10-K that most of the drop in employment since 2008 was due to a voluntary retirement offer.
In June 2012, Verizon purchased Hughes
Telematics
Telematics is an interdisciplinary field encompassing telecommunications, vehicular technologies (road transport, road safety, etc.), electrical engineering (sensors, instrumentation, wireless communications, etc.), and computer science (multimedia ...
, a producer of wireless features for automobiles, for $612 million as part of its strategy to expand into new growth areas in its wireless business. The same month, Verizon's E-911 service failed in the aftermath of the June 2012 derecho storm in several northern Virginia suburbs of Washington, D.C., with some problems lasting several days. The FCC conducted an investigation and released a report detailing the problems that led to the failure in January 2013. Verizon reported that it had already addressed or was addressing a number of the issues related to the FCC report, including the causes of generator failures, conducting audits of backup systems, and making its monitoring systems less centralized, although the FCC indicated that Verizon still needed to make additional improvements.
In July 2012, the FCC ruled that Verizon must stop charging users an added fee for using 4G smartphones and tablets as
Wi-Fi hotspot
A hotspot is a physical location where people can obtain Internet access, typically using Wi-Fi technology, via a wireless local-area network (WLAN) using a router connected to an Internet service provider.
Public hotspots may be created b ...
s (known as "
tethering
Tethering, or phone-as-modem (PAM) is the sharing of a mobile device's Internet connection with other connected computers. Connection of a mobile device with other devices can be done over wireless LAN (Wi-Fi), over Bluetooth or by physical conne ...
"). Verizon had been charging its customers, even those with "unlimited" plans, $20 per month for tethering. As part of the settlement, Verizon made a voluntary payment of $1.25 million to the
U.S. Treasury
The Department of the Treasury (USDT) is the national treasury and finance department of the federal government of the United States, where it serves as an executive department. The department oversees the Bureau of Engraving and Printing and t ...
.
In August 2012, the
Department of Justice
A justice ministry, ministry of justice, or department of justice is a ministry or other government agency in charge of the administration of justice. The ministry or department is often headed by a minister of justice (minister for justice in a ...
approved Verizon's purchase of
Advanced Wireless Services
Advanced Wireless Services (AWS) is a wireless telecommunications spectrum band used for mobile voice and data services, video, and messaging. AWS is used in the United States, Argentina, Canada, Colombia, Mexico, Chile, Paraguay, Peru, E ...
(AWS) spectrum from a consortium of cable companies, including Comcast,
Time Warner Cable
Time Warner Cable, Inc. (TWC) was an American cable television company. Before it was acquired by Charter Communications on May 18, 2016, it was ranked the second largest cable company in the United States by revenue behind only Comcast, operat ...
and
Bright House Networks
Bright House Networks, LLC also simply known as Bright House, was an American telecom company. Prior to its purchase by Charter Communications, it was the tenth-largest multichannel video service provider and the 6th largest cable internet prov ...
, for $3.9 billion. Verizon began expanding its LTE network utilizing these extra airwaves in October 2013.
In December 2012, Verizon officially shut down V Cast and all of its components. Following this, Verizon introduced Viewdini, a TV and movie streaming app. They also made a deal with the NFL to have an app where people could watch live NFL events. This deal expired in 2017.
On June 5, 2013, ''
The Guardian
''The Guardian'' is a British daily newspaper. It was founded in 1821 as ''The Manchester Guardian'', and changed its name in 1959. Along with its sister papers ''The Observer'' and ''The Guardian Weekly'', ''The Guardian'' is part of the Gu ...
'' reported it had obtained an order by the
Federal Bureau of Investigation
The Federal Bureau of Investigation (FBI) is the domestic intelligence and security service of the United States and its principal federal law enforcement agency. Operating under the jurisdiction of the United States Department of Justice, ...
(FBI) and approved by the
United States Foreign Intelligence Surveillance Court
The United States Foreign Intelligence Surveillance Court (FISC), also called the FISA Court, is a U.S. federal court established under the Foreign Intelligence Surveillance Act of 1978 (FISA) to oversee requests for surveillance warrants a ...
that required Verizon to provide the NSA with telephone metadata for all calls originating in the U.S. Verizon Wireless was not part of the NSA data collection for wireless accounts due to foreign ownership issues.
In September 2013, Verizon purchased the 45% stake in Verizon Wireless, previously owned by Vodafone, for $130 billion. The deal closed on February 21, 2014, and became the third largest corporate deal ever signed, giving Verizon Communications sole ownership of Verizon Wireless.
On January 14, 2014, the
DC Circuit Court of Appeals
The United States Court of Appeals for the District of Columbia Circuit (in case citations, D.C. Cir.) is one of the thirteen United States Courts of Appeals. It has the smallest geographical jurisdiction of any of the U.S. federal appellate co ...
struck down the FCC's
net neutrality
Network neutrality, often referred to as net neutrality, is the principle that Internet service providers (ISPs) must treat all Internet communications equally, offering users and online content providers consistent rates irrespective of co ...
rules after Verizon filed suit against them in January 2010. In June 2016, in a 184-page ruling, the
United States Court of Appeals for the District of Columbia Circuit
The United States Court of Appeals for the District of Columbia Circuit (in case citations, D.C. Cir.) is one of the thirteen United States Courts of Appeals. It has the smallest geographical jurisdiction of any of the U.S. federal appellate co ...
upheld, by a 2–1 vote, the FCC's net neutrality rules and the FCC's determination that broadband access is a
public utility
A public utility company (usually just utility) is an organization that maintains the infrastructure for a public service (often also providing a service using that infrastructure). Public utilities are subject to forms of public control and r ...
rather than a luxury. AT&T and the telecom industry said they would seek to appeal the decision to the Supreme Court.
On January 22, 2014, the ''
Wall Street Journal
''The Wall Street Journal'' is an American business-focused, international daily newspaper based in New York City, with international editions also available in Chinese and Japanese. The ''Journal'', along with its Asian editions, is published ...
'' reported that Verizon received more than 1,000 requests for information about its subscribers on national security grounds via
National Security Letters
A national security letter (NSL) is an administrative subpoena issued by the United States government to gather information for national security purposes. NSLs do not require prior approval from a judge. The Stored Communications Act, Fair Cre ...
. In total, Verizon received 321,545 requests from federal, state and local law enforcement for U.S. customer information. In May 2015, Verizon agreed to pay $90 million "to settle federal and state investigations into allegations mobile customers were improperly billed for premium text messages."
In late October 2014, Verizon Wireless launched the technology news website SugarString. The publication attracted controversy after it was reported that its writers were forbidden from publishing articles related to
net neutrality
Network neutrality, often referred to as net neutrality, is the principle that Internet service providers (ISPs) must treat all Internet communications equally, offering users and online content providers consistent rates irrespective of co ...
or domestic surveillance. Although Verizon denied that this was the case, the site (described as being a pilot project) was shuttered in December.
In August 2015, Verizon launched Hum, a service and device offering vehicle diagnostic and monitoring tools for vehicles. On August 1, 2016, Verizon announced its acquisition of
Fleetmatics
Fleetmatics was a private company owned by Verizon providing software-as-a-service fleet management. Based in Dublin, Ireland it offers both web-based and mobile application services that provide fleet operators with information on vehicle loca ...
, a
fleet telematics system
A Fleet Telematics System (FTS) allows the information exchange between a commercial vehicle fleet and their central authority, i.e., the dispatching office. A FTS typically consists of mobile Vehicle Systems (VS) and a stationary Fleet Communicati ...
company in Dublin, Ireland, for $2.4 billion, to build products that it offers to enterprises for logistics and mobile workforces. On September 12, 2016, Verizon announced its acquisition of Sensity, a startup for LED sensors, in an effort to bolster its IoT portfolio.
In October 2016, Verizon was accused by
Communications Workers of America
The Communications Workers of America (CWA) is the largest communications and media labor union in the United States, representing about 700,000 members in both the private and public sectors (also in Canada and Puerto Rico). The union has 27 l ...
of deliberately refusing to maintain its copper telephone service. The organization released internal memos and other documents stating that Verizon workers in Pennsylvania were being instructed to, in areas with network problems, migrate voice-only customers to VoiceLink, a system that delivers telephone service over the Verizon Wireless network, instead of repairing the copper lines. VoiceLink has limitations, including incompatibility with services or devices that require the transmission of data over the telephone line, and a dependency on battery backup in case of power failure. The memo warned that technicians who do not follow this procedure would be subject to "disciplinary action up to and including dismissal". A Verizon spokesperson responded to the allegations, stating that the company's top priority was to restore service to customers as quickly as possible, and that VoiceLink was a means of doing so in the event that larger repairs had to be done to the infrastructure. The spokesperson stated that it was "hard to argue with disciplining someone who intentionally leaves a customer without service".
In November 2016, Verizon acquired mapping startup SocialRadar, whose technology would be integrated with
MapQuest
MapQuest (stylized as mapquest) is an American free online web mapping service. It was launched in 1996 as the first commercial web mapping service. MapQuest vies for market share with competitors such as Google Maps and Here.
History
MapQuest's ...
.
On January 26, 2017, the ''
Washington Post
''The Washington Post'' (also known as the ''Post'' and, informally, ''WaPo'') is an American daily newspaper published in Washington, D.C. It is the most widely circulated newspaper within the Washington metropolitan area and has a large na ...
'' reported that Verizon was in talks to merge with
Charter Communications
Charter Communications, Inc., is an American telecommunications and mass media company with services branded as Spectrum. With over 32 million customers in 41 states, it is the second-largest cable operator in the United States by subscribe ...
.
In 2017, Verizon partnered with Alley to develop a number of coworking spaces under the name "Alley powered by Verizon".
On March 13, 2017, Verizon was sued by New York City for violating its cable franchise agreement, which required the provider to pass a fiberoptic network to all households in the city by June 30, 2014. Verizon disputed the claims, citing landlords not granting permission to install the equipment on their properties, and an understanding with the government that the fiber network would follow the same routes as its copper lines, and did not necessarily mean it would have to pass the lines in front of every property.
On April 27, 2017, Verizon invested $10 million in Renovo Auto, an autonomous vehicle company based in Campbell, California.
was created in 2018, combining the individual Telematics, Fleetmatics, and Telogis units.
On December 10, 2018, Verizon announced that 10,400 managers had agreed to leave the company as part of a "voluntary separation program" offered to 44,000 employees, resulting in a cut of around 7% of its workforce. At the same time, the company announced a $4.6 billion write-off on its media division, citing "increased competitive and market pressures throughout 2018 that have resulted in lower-than-expected revenues and earning."
On January 17, 2019, Verizon announced that it would offer anti-spam and robocalling features free of charge to all customers beginning in March.
In April 2019, Verizon began rolling out its 5G mobile network, which was active in 30 cities by the end of the year. Unlike other U.S. carriers, Verizon only uses
millimeter-wave
Extremely high frequency (EHF) is the International Telecommunication Union (ITU) designation for the band of radio frequencies in the electromagnetic spectrum from 30 to 300 gigahertz (GHz). It lies between the super high frequency band and the ...
(mmWave) spectrum for its 5G network. While capable of very high speeds, mmWave has limited range and poor building penetration.
On January 14, 2020, Verizon announced the launch of its privacy-focused search engine OneSearch.
On May 15, 2020, Verizon acquired videoconferencing service
BlueJeans
BlueJeans by Verizon is a company that provides an interoperable cloud-based video conferencing service. It is headquartered in the Santana Row district of San Jose, California. Prior to being acquired by Verizon, the company was known as "Bl ...
in order to expand its business portfolio offerings, particularly its unified communications offerings. While the price of the acquisition was not announced, it is believed to be in the sub $500 million range. The transaction is expected to close in the second quarter of 2020.
In September 2020, Verizon announced its plans to acquire
TracFone Wireless
TracFone Wireless, Inc. (TFWI) is an American prepaid, no-contract mobile phone provider. TFWI is a subsidiary of Verizon Communications, and offers products and services under several brands. It operates as a mobile virtual network operator ( ...
(a business unit of Mexican telecom business America Movil) for $6.25 billion. The deal was approved by the FCC on November 22, 2021 and closed the following day.
In October 2020, Verizon collaborated with
Apple
An apple is an edible fruit produced by an apple tree (''Malus domestica''). Apple trees are cultivated worldwide and are the most widely grown species in the genus ''Malus''. The tree originated in Central Asia, where its wild ancestor, ' ...
iPhone 12
The iPhone 12 and iPhone 12 Mini (stylized and marketed as iPhone 12 mini) are a range of smartphones designed, developed, and marketed by Apple Inc. They are the fourteenth-generation, "affordable flagship" iPhones, succeeding the iPhone 1 ...
lineup.
Acquisition of AOL and Yahoo
On May 12, 2015, Verizon announced it would acquire AOL at $50 per share, for a deal valued around $4.4 billion. The following year, Verizon announced it would acquire the core internet business of
Yahoo!
Yahoo! (, styled yahoo''!'' in its logo) is an American web services provider. It is headquartered in Sunnyvale, California and operated by the namesake company Yahoo Inc., which is 90% owned by investment funds managed by Apollo Global Manage ...
for $4.83 billion. Following the completion of the acquisitions, Verizon created a new division called Oath, which includes the AOL and Yahoo brands. The sale did not include Yahoo's stakes in Alibaba Group and
Yahoo! Japan
is a Japanese internet company originally formed as a joint venture between the American internet company Yahoo! (later divested by Verizon into Altaba) and the Japanese company SoftBank. It is headquartered at Kioi Tower in the Tokyo Garden Te ...
.
On March 16, 2017, Verizon announced it would discontinue the e-mail services provided for its internet subscribers and migrate them to AOL Mail.
On May 23, 2017, Verizon CEO Lowell McAdam confirmed the company's plan to launch a streaming TV service. The integrated AOL-Yahoo operation, housed under the newly created Oath division, would be organized around key content-based pillars.
On June 13, 2017, Verizon completed its acquisition of Yahoo for $4.48 billion.
In May 2021, Verizon announced that its media group, including AOL and Yahoo, would be sold to Apollo Global Management for $5 billion, with Verizon retaining a 10% stake in the division.
Finances
For the fiscal year 2019, Verizon reported earnings of US$19.265 billion, with an annual revenue of US$131.868 billion, an increase of 0.77% over the previous fiscal cycle. Verizon's shares traded at over $45 per share, and its market capitalization was valued at over US$229.1 billion in October 2018. For more than 20 years, Verizon has been in the top 20 in the Fortune 500 listings of corporations in the United States by total revenue.
States
The company offers Internet, traditional landline phone or VoIP, Home Security, Premium Television, Web Hosting and wholesale data in nine states footprint across the eastern United States.
Marketing campaigns
Since its inception, Verizon Communications has run several marketing campaigns, including:
Can you hear me now?
The "Can you hear me now?" campaign, which was created for the newly formed Verizon Wireless, started running in 2001, and featured actor Paul Marcarelli in the role of "Test Man", a character based on a Verizon network tester, who travels the country asking "Can you hear me now?". The campaign, originally conceived by New York agency Bozell, ran from early 2001 to September 2010. Data from the technology tracking firm The
Yankee Group
Yankee Group was an independent technology research and consulting firm, founded in 1970 by Howard Anderson. The firm "was one of the analyst industry’s most prestigious boutiques through the dot.com boom, with 70 analysts on the payroll in 2006 ...
showed that, in the early years of the campaign, net customers grew 10% to 32.5 million in 2002 and 15% more to 37.5 million in 2003. In addition, customer turnover dropped to 1.8% in 2001, down from 2.5% in 2000. In 2011, Marcarelli parted ways with Verizon, and is now a spokesperson for Sprint.
There's a map for that
The "There's a map for that" campaign was launched in late 2009, designed as a parody of AT&T's "There's an app for that" campaign. The ads depicted a side-by-side comparison of Verizon and AT&T network coverage maps. In early November 2009, AT&T filed a lawsuit in Atlanta federal court, claiming that the coverage maps being used in the ads were misleading. The suit was dropped later that month in conjunction with Verizon dropping a similar suit against AT&T.
That's not cool
In 2009, Verizon joined with the
Ad Council
The Advertising Council, commonly known as the Ad Council, is an American nonprofit organization that produces, distributes, and promotes public service announcements on behalf of various sponsors, including nonprofit organizations, non-governme ...
Office on Violence Against Women
The United States Office on Violence Against Women (OVW) was created following the Violence Against Women Act (VAWA) of 1994.public service advertising campaign. Designed to help teens recognize and prevent digital dating abuse, the ads were run on its Wireless' Mobile Web service, Verizon FiOS internet and TV.
Powerful Answers
In January 2013, Verizon launched the "Powerful Answers" campaign, designed by agency McGarryBowen. The campaign centered around a contest in which $10 million in prizes was offered to individuals for finding solutions to "the world's biggest challenges" by making use of Verizon's cloud, broadband and wireless networks. Winners of the inaugural competition were announced at the 2014 Consumer Electronics Show. Israel-based TinyTap won the education category; Smart Vision Labs of Newport, Rhode Island, won in the healthcare category; and
Mosaic Inc.
Mosaic is a clean energy fin-tech company based in Oakland, California. Founded in 2010, Mosaic created its initial business model using crowdfunding principals to offer loans for commercial solar development projects.
After shifting its model in ...
of Oakland, California, won in the sustainability category.
Inspire Her Mind
In June 2014, Verizon launched the "Inspire Her Mind" campaign, created by agency AKQA. It was designed to encourage girls' interest in science, technology, engineering and math, and aimed to address findings from the
National Science Foundation
The National Science Foundation (NSF) is an independent agency of the United States government that supports fundamental research and education in all the non-medical fields of science and engineering. Its medical counterpart is the National ...
, whose research showed that 66 percent of fourth-grade girls said they were interested science and math, yet only 18 percent of college students in engineering and math are women.
Flipside Stories (#NeverSettle)
In February 2015, Verizon launched its Flipside Stories ad campaign, featuring the #NeverSettle hashtag. The ads showed dramatized "testimonials" of people with and without Verizon Wireless or Verizon Fios services.
Better Matters
In 2016, Verizon started using the slogan "Better Matters" in reference to its networks.
Humanability campaign
Verizon launched its Humanability campaign in 2017. The company aimed for the ads to showcase to consumers and investors its diversification of revenue sources and technology beyond smartphones. These include online advertising, data collection, Internet of Things,
smart cities
A smart city is a technologically modern urban area that uses different types of electronic methods and sensors to collect specific data. Information gained from that data is used to manage assets, resources and services efficiently; in retur ...
, telematics, and media.
Corporate governance
Executives
As of 2021:
*Hans Vestberg, chairman and CEO
*Sowmyanarayan Sampath, executive vice president and group CEO, Verizon Business
Corporate responsibility
The Verizon Foundation is the philanthropic arm of Verizon Communications, which donates about $70 million per year to nonprofit organizations, with a focus on education, domestic violence prevention, and energy management. Verizon's educational initiatives have focused on
STEM fields
Science, technology, engineering, and mathematics (STEM) is an umbrella term used to group together the distinct but related technical disciplines of science, technology, engineering, and mathematics. The term is typically used in the context of ...
, including: a national competition for students to develop mobile application concepts; the Verizon Innovative Learning Schools program, providing professional development for teachers in underserved areas; and providing students with wireless hardware and services as part of President Obama's ConnectED program. The company also runs HopeLine, which has provided mobile phones to approximately 180,000 victims of domestic violence, and a program that offers grants for victims of domestic violence to start or grow home-based businesses. As part of an initiative to reduce the company's carbon intensity metrics by 50 percent by 2020, Verizon announced planned investment in solar panels and natural gas fuel cells at its facilities. The increased capacity would make Verizon the leading solar power producer among U.S. communications companies.
On February 5, 2019, Verizon first entered the green bond market with an issue of $1 billion. The sale was oversubscribed, meaning that investors bids were about $8 billion. Verizon plans to invest money on renewable energy, for instance, by developing solar and wind energy energy-efficient projects involving technology and equipment replacement, and the deployment of 5G wireless technologies, allowing for real-time response for energy demand (smart building management and city systems), green buildings, sustainable water management, and also biodiversity and conservation.
According to Cbonds, the newly issued green bonds have 3.875% coupon rate and will mature on August 5, 2029. Goldman Sachs and Bank of America Merrill Lynch were the bookrunners of the deal.
Criticism
Security concerns
According to Google Project Zero researcher Tavis Ormandy, Verizon applies a simplistic certification methodology to give its "Excellence in Information Security Testing" award, e.g. to
Comodo Group
Xcitium, formerly known as Comodo Security Solutions, Inc., is a cybersecurity company headquartered in Bloomfield, New Jersey in the United States.
History
The company was founded in 1998 in the United Kingdom by Melih Abdulhayoğlu. The com ...
. It focuses on GUI functions instead of testing security relevant features. Not detected were Chromodo browser disabling of the same-origin policy, a VNC-delivered with a default of weak authentication, not enabling address space layout randomization ( ASLR) when scanning, and using
access control list
In computer security, an access-control list (ACL) is a list of permissions associated with a system resource (object). An ACL specifies which users or system processes are granted access to objects, as well as what operations are allowed on gi ...
s (ACLs) throughout its product.
Net neutrality
Verizon and Comcast have been actively lobbying for current changes in the FCC's regulations that require internet service providers to offer all content at one internet speed regardless of the type of content since the early 2000s. In 2014, Verizon unsuccessfully sued the FCC for these powers.
In July 2017, it was reported that Verizon's mobile network had been limiting streaming services such as
Netflix
Netflix, Inc. is an American subscription video on-demand over-the-top streaming service and production company based in Los Gatos, California. Founded in 1997 by Reed Hastings and Marc Randolph in Scotts Valley, California, it offers a fi ...
and
YouTube
YouTube is a global online video sharing and social media platform headquartered in San Bruno, California. It was launched on February 14, 2005, by Steve Chen, Chad Hurley, and Jawed Karim. It is owned by Google, and is the second mo ...
to a speed of 10 Mbps; Verizon stated to ''Ars Technica'' that it had been testing a system to "optimize the performance of video applications on our network", and that it would not affect video quality.
Deceptive advertising of 5G
In May 2020, the
Better Business Bureau
Better Business Bureau (BBB) is a private, 501(c)(6) nonprofit organization founded in 1912. BBB's self-described mission is to focus on advancing marketplace trust, consisting of 97 independently incorporated local BBB organizations in the Unite ...
criticized Verizon for claiming it was "building the most powerful 5G experience for America" and recommended that the company make clear and conspicuous disclosures to consumers about the limited actual availability of its 5G network. Verizon had been cited by the Better Business Bureau in March 2019 for ads that "convey the message that Verizon has achieved the important milestone of deploying the first mobile wireless 5G network" prior to 5G availability, falsely conveying that the technology was currently available.
Verizon is the title sponsor of several large performance and sports venues as well as a sponsor of many major sporting organizations.
National Hockey League
In January 2007, Verizon secured exclusive marketing and promotional rights with the
National Hockey League
The National Hockey League (NHL; french: Ligue nationale de hockey—LNH, ) is a professional ice hockey league in North America comprising 32 teams—25 in the United States and 7 in Canada. It is considered to be the top ranked professional ...
. The deal was extended for another three years in 2012 and included new provisions for the league to provide exclusive content through Verizon's GameCenter app.
NASCAR Nationwide Series
The NASCAR Xfinity Series (NXS) is a stock car racing series organized by NASCAR. It is promoted as NASCAR's second-tier circuit to the organization's top level Cup Series. NXS events are frequently held as a support race on the day prior to a ...
, before they chose to opt out of a two-year-old
NASCAR
The National Association for Stock Car Auto Racing, LLC (NASCAR) is an American auto racing sanctioning and operating company that is best known for stock car racing. The privately owned company was founded by Bill France Sr. in 1948, and ...
team sponsorship with
Penske Racing
Team Penske (formerly Penske Racing) is an American professional auto racing organization, competing in the NTT IndyCar Series, NASCAR Cup Series, and the FIA World Endurance Championship. Debuting at the 1966 24 Hours of Daytona, the organiza ...
in order to pursue an expanded presence with the
IndyCar Series
The IndyCar Series, currently known as the NTT IndyCar Series under sponsorship, is the highest class of regional North American open-wheel single-seater formula racing cars in the United States, which has been conducted under the auspices o ...
. In March 2014 Verizon became title sponsor of the series through 2018.
Verizon also sponsored a race in the 2021 NASCAR Cup Series season, the Verizon 200 at the Brickyard at Indianapolis Motor Speedway.
National Football League
In late 2010, Verizon Communications joined with
Vodafone Group
Vodafone Group plc () is a British multinational telecommunications company. Its registered office and global headquarters are in Newbury, Berkshire, England. It predominantly operates services in Asia, Africa, Europe, and Oceania.
, Vodafon ...
in a joint partnership to replace Sprint as the official wireless telecommunications partner of the
National Football League
The National Football League (NFL) is a professional American football league that consists of 32 teams, divided equally between the American Football Conference (AFC) and the National Football Conference (NFC). The NFL is one of the ...
. The four-year deal was estimated at $720 million. In June 2013, Verizon announced a four-year extension with the NFL in a deal reportedly valued at $1 billion. The new agreement gave Verizon the right to stream every NFL regular-season and playoff game.
USA Team Handball
In January 2020, Verizon became a founding partner of
USA Team Handball
USA Team Handball is the governing body for handball in the United States. USA Team Handball is funded in part by the U.S. Olympic & Paralympic Committee.
Previously, the governing body was the United States Team Handball Federation.
USA Team H ...
through the year 2020, with an option to extend the deal until 2024. They are the jersey sponsor for the men's and
women's
A woman is an adult female human. Prior to adulthood, a female human is referred to as a girl (a female child or adolescent). The plural ''women'' is sometimes used in certain phrases such as "women's rights" to denote female humans regardl ...
women's
A woman is an adult female human. Prior to adulthood, a female human is referred to as a girl (a female child or adolescent). The plural ''women'' is sometimes used in certain phrases such as "women's rights" to denote female humans regardl ...
national beach handball teams. They are presenter of the
USA Team Handball College Nationals
The USA Team Handball College National Championships is a team handball tournament to determine the Men's and Women's College National Champion from the United States.
History
The best college team from the Nationals was recognized as College ch ...
.
In 2020
USA Team Handball
USA Team Handball is the governing body for handball in the United States. USA Team Handball is funded in part by the U.S. Olympic & Paralympic Committee.
Previously, the governing body was the United States Team Handball Federation.
USA Team H ...
CEO Barry Siff that they are planning to create an American professional team handball league sponsored by
Verizon
Verizon Communications Inc., commonly known as Verizon, is an American multinational telecommunications conglomerate and a corporate component of the Dow Jones Industrial Average. The company is headquartered at 1095 Avenue of the Americas in ...
. They are planning to have the owners until the end of 2020. They are planning to launch the league in 2023 with 10 teams with each team initially worth $3 million to $5 million and want to cooperate with
NBA
The National Basketball Association (NBA) is a professional basketball league in North America. The league is composed of 30 teams (29 in the United States and 1 in Canada) and is one of the major professional sports leagues in the United St ...
or
NHL
The National Hockey League (NHL; french: Ligue nationale de hockey—LNH, ) is a professional ice hockey league in North America comprising 32 teams—25 in the United States and 7 in Canada. It is considered to be the top ranked professional ...
owners in one-tenant arena situations. To create multisports clubs like
FC Barcelona
Futbol Club Barcelona (), commonly referred to as Barcelona and colloquially known as Barça (), is a professional football club based in Barcelona, Catalonia, Spain, that competes in La Liga, the top flight of Spanish football.
Founded ...
or
Paris Saint-Germain
Paris Saint-Germain Football Club (), commonly referred to as Paris Saint-Germain, Paris, Paris SG or simply PSG is a professional football club based in Paris, France. They compete in Ligue 1, the top division of French football. As Fr ...
.
Venues
The main home concert hall of the
Philadelphia Orchestra
The Philadelphia Orchestra is an American symphony orchestra, based in Philadelphia, Pennsylvania. One of the " Big Five" American orchestras, the orchestra is based at the Kimmel Center for the Performing Arts, where it performs its subscription ...
at the
Kimmel Center for the Performing Arts
The Kimmel Center for the Performing Arts is a large performing arts venue at 300 South Broad Street and the corner of Spruce Street, along the stretch known as the Avenue of the Arts in Center City Philadelphia, Pennsylvania. It is owned and ...
is named Verizon Hall.
Verizon was the former sponsor for a number of sporting and entertainment arenas, including
Simmons Bank Arena
Simmons Bank Arena (previously Verizon Arena and Alltel Arena) is an 18,000-seat multi-purpose arena in North Little Rock, Arkansas, directly across the Arkansas River from downtown Little Rock. Opened in October 1999, it is the main entertainme ...
(formerly Verizon Arena) in
North Little Rock
North Little Rock is a city in Pulaski County, Arkansas, across the Arkansas from Little Rock in the central part of the state. The population was 64,591 at the 2020 census. In 2019 the estimated population was 65,903, making it the seventh-mo ...
SNHU Arena
The SNHU Arena ( Southern New Hampshire University Arena) is an indoor events arena in Manchester, New Hampshire, and seats 9,852 for ice hockey, 11,140 for basketball and up to 11,770 for concerts.
The facility was originally known during con ...
in Manchester, New Hampshire, which was originally known as the Verizon Wireless Arena until September 2016 when
Southern New Hampshire University
Southern New Hampshire University (SNHU) is a private university between Manchester and Hooksett, New Hampshire. The university is accredited by the New England Commission of Higher Education, along with national accreditation for some hospitali ...
acquired the naming rights for a period of at least 10 years. Verizon was also the title sponsor of entertainment amphitheaters in locations throughout the United States, including four individually referred to as the "Verizon Wireless Amphitheatre" in Irvine, California, Maryland Heights, Missouri, Selma, Texas, and Alpharetta, Georgia.
Verizon is a former sponsor of the
Capital One Arena
Capital One Arena is an indoor arena in Washington, D.C. Located in the Penn Quarter neighborhood, the arena sits atop the Gallery Place (WMATA station), Gallery Place rapid transit station of the Washington Metro. It has been largely considered ...
List of United States telephone companies
This is a list of United States telephone companies.
Regional Bell Operating Companies
The Regional Bell Operating Companies (RBOCs) are the result of the break-up of the Bell System in 1984. After numerous mergers, asset sales, and renamings s ...