Verizon Communications – American telecommunications company. The company’s headquarters is located in Manhattan, in New York, but is registered in Delaware. In 2016 it is the largest telecommunications company in the US by market capitalization and the second largest in the world (after China Mobile). Services are distributed throughout the United States and 150 other countries. The number of employees of the company employs about 180 thousand people. The current president is Lawrence Babb.
History begins with the Bell Telephone Company (Bell Telephone Company), founded in 1877. Since 1899 it became known as AT & T and has long held a monopoly on telephone services in the United States. In 1984, under pressure from the US Justice Department has been divided into seven regional telephone companies and AT & T Communication distance communication. One of the regional companies operating on the east (Atlantic) coast of the United States, called Bell Atlantic, its headquarters was located in Pennsylvania. It operated in New Jersey, Pennsylvania, Delaware, Maryland, West Virginia, Virginia and the District of Columbia.
In 1996, after a merger with another of the seven parts of AT & T, the company NYNEX, Bell Atlantic expanded its service area to the New England states (Maine, Massachusetts, New Hampshire, Rhode Island and Vermont), as well as New York. The headquarters moved to New York City.
In 2000, the merger of Bell Atlantic Company, and the largest independent telecommunication operator in the United States, the GTE Company, formed Verizon Communications Company.
Verizon Communications was the brainchild of the 21st century, but the company, thanks to which it was formed, have their roots in the 19th century – in the days when phones were just beginning to emerge. Throughout the 20th century, the evolution of Bell Atlantic and GTE determined exclusively by government regulation. And only with the signing of the Telecommunications Act of February 8, 1996 the company could finally choose a vector of their movement independently.
At the time of the merger of Bell Atlantic and GTE were some of the world’s largest telecommunications companies, whose income tens of billions of dollars. And therefore it is not surprising that a deal between them was estimated at $ 52 billion.
Preparations for the merger took two whole years, as required approval by the FCC (Federal Communications Commission), US Department of Justice (the U.S. Department of Justice), as well as various international organizations.
When 30 June 2000 an agreement to create Verizon Communications has been signed, the former chairman and CEO of GTE Charles R. “Chuck” Lee and former CEO of Bell Atlantic Ivan Seidenberg was divided among a decision-making positions within the newly formed company.
In the same year was formed joint venture Verizon Wireless, in which Verizon Communications share was 55%, and the British company Vodafone – 45%. In early 2014, the US company bought a share of the British.
Verizon Wireless today – the largest mobile operator in the United States. More than two-thirds of the proceeds gives a subsidiary of Verizon Wireless (70% in 2015), which is the largest US wireless service provider. In the coverage area no other North American operator can not even close to approach him. But the size of the subscriber base at the end of 2012 was 115,780,000 customers.
In January 2006, it acquired MCI, provides telecom services to IP-based. In June 2008, Verizon Wireless acquired Alltel part of the network of the company for $ 28.1 billion.
Since 2005, Verizon Communications started to reduce network wired telephony, focusing on mobile communications. In June 2015 was bought by an American media conglomerate AOL. In July 2016 the company was acquired by Yahoo!, the deal was worth $ 4.8 billion.
The Company operates in two main areas:
- Wireless (Wireless Services) – unit Cellco Partnership provides services under the name Verizon Wireless. Unit revenue in 2015 – $ 91.68 billion.
- Wired connection (Wireline) – brings together several subsidiaries providing the population of the USA fixed telephony services, Internet access and TV on coaxial and fiber optic cables. Revenue in this segment in 2015 amounted to $ 37.72 billion.
In addition, the company owns a large business for the production of telephone directories and sells mobile phones, modems, and other similar equipment.
According to the magazine Forbes Verizon Communications holds 21 th place in the list of most valuable brands and 22 th place (Forbes Global 2000), among the two thousand largest public companies, including the 23th by market capitalization, 38th in terms of revenue and net profit, 123rd by assets.
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