History Of Verizon Communications Inc.

1538 Words7 Pages
Verizon Stock Analysis and Recommendation Brent Argast, Haneen Hamad, MaryJo Abney & Patrick Abney 92 paper; 98 presentation National University Chang G. Park, Ph.D., CPA FIN 609A May 4, 2014 The History of Verizon Communications Verizon Communications Inc., was formed by a merger of Bell Atlantic Corp. and GTE Corp on June 30, 2000. That merger was one of the largest in U.S. business history. Prior to the merger, GTE was one of the largest telecommunications companies with revenues exceeding $25 billion in 1999. GTE was a leading wireless operator in the US, with more than 7.1 million wireless customers (Verizon, 2014). Bell Atlantic was even larger than GTE, with revenues of more than $33 billion in 1999. Its domestic…show more content…
On the Verizon Wireless 4G LTE network, users experience average data throughput speeds of up to 10 times faster than when on the company’s 3G network. In wireline, Verizon is in the midst of a major initiative to bring customers the next-generation broadband services -- fiber-optic-based Internet and TV services called FiOS. Verizon is the only major U.S. communications company building an advanced, all-digital fiber-optic network, on a mass scale, all the way to customers ' homes. From 2004 through 2012, the company has invested more than $20 billion to deploy Verizon 's fiber network past 17.6 million premises, with plans to eventually pass more than 18 million premises, or more than 70 percent of its landline service territory. Verizon began selling FiOS Internet services in the Dallas suburb of Keller, Texas, in August 2004, and the company had 5.4 million FiOS Internet customers by year-end 2012. The company began selling FiOS TV services in September 2005 and had 4.7 million FiOS Video customers by year-end 2012 (Verizon, 2014). Verizon today is a global leader in delivering broadband and other wireless and wireline communications services to mass market, business, government and wholesale customers. At year-end 2012, the company had a diverse workforce of 183,400 employees, serving customers in more than 140 countries. Verizon 's corporate headquarters is located at 140 West St. in

More about History Of Verizon Communications Inc.

Open Document