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User:VZBob/Verizon Wireless History

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History

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In September 1999, American phone company Bell Atlantic and U.K.-based Vodafone Airtouch PLC announced they would create a new wireless phone service joint venture valued at $70 billion in September 1999.[1] The joint venture was being created as Bell Atlantic underwent a merger with GTE Corporation. In April 2000, the companies announced that the Bell Atlantic-GTE merger would take the name Verizon and that the Bell Atlantic-Vodafone wireless unit would be called Verizon Wireless.[2] Verizon Communications owned 55 percent of Verizon Wireless while Vodafone retained 45 percent ownership.[3] Regulators with the Federal Communications Commission approved the Bell Atlantic-GTE merger June 16, 2000,[4] creating the largest wireless company in the U.S.[5] Verizon Wireless held this market position until Cingular acquired AT&T in 2004.[6]

Throughout the 2000s, Verizon acquired several wireless phone companies and assets across the country, including West Virginia Wireless in 2006;[7] Ramcell in 2007;[8] Rural Cellular Corporation[9] and SureWest Communications, both in 2008.[10] Also in 2008, Verizon struck a deal to buy Alltel for $5.9 billion in equity while assuming $22.2 billion worth of debt.[11][12] The deal finalized January 9, 2009, again making Verizon Wireless the country's biggest cellphone network.[11] As per the agreement, Verizon sold rural wireless properties across 18 states to AT&T. Those properties were in Alabama, Arizona, California, Colorado, Iowa, Kansas, Michigan, Minnesota, Montana, Nebraska, Nevada, New Mexico, North Dakota, South Dakota, Tennessee, Utah, Virginia and Wyoming.[13] Verizon's acquisitions continued in the 2010s, including the purchases of some Plateau Wireless markets in 2012[14] and Golden State Cellular's operator in 2014.[15]

Majority owner Verizon Communications became sole owner of its wireless business in 2014, when it bought Vodafone's 45 percent stake. Vodafone received $58.9 billion cash, $60.2 billion in stock and $11 billion in other transactions.[16][17] An article in The New York Times estimated Verizon Wireless' valuation at about $290 billion.[16]

A November 2014 story in The Washington Post reported that Verizon Wireless used "supercookies" to track its mobile customers on the Web for targeted advertisements.[18] After facing criticism for the practice, Verizon Wireless announced in January 2015 that customers could opt-out of the program.[19][20]

References

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  1. ^ Noguchi, Yuki (21 September 1999). "Bell Atlantic, Vodafone join wireless services". The Washington Post. Retrieved 21 July 2015.
  2. ^ Schiesel, Seth (4 April 2000). "Bell Atlantic and GTE pick post-merger name". The New York Times. Retrieved 21 July 2015.
  3. ^ "Timeline: Verizon and Vodafone's long relationship". Reuters. 25 April 2013. Retrieved 21 July 2015.
  4. ^ "Bell, GTE merger approved". CNN. 16 June 2000. Retrieved 21 July 2015.
  5. ^ Chen, Kathy (31 March 2000). "FCC approves wireless-assets merger of Bell Atlantic, Vodafone AirTouch". Wall Street Journal. Retrieved 21 July 2015.
  6. ^ Rubner, Justin (26 October 2004). "Cingular, AT&T Wireless deal complete, new focus on the horizon". Atlanta Business Chronicle. Retrieved 21 July 2015.
  7. ^ "Business briefs". Charleston Daily Mail. 4 February 2007. Retrieved 21 July 2015.
  8. ^ "Southwestern Oregon to benefit from Verizon Wireless network expansion". Salem-News.com. 18 February 2008. Retrieved 21 July 2015.
  9. ^ "FCC approves Verizon, Rural Cellular merger". Dow Jones Newswires. 1 August 2008. Retrieved 21 July 2015.
  10. ^ Frommer, Dan (22 January 2008). "Verizon Wireless SureWest Wireless biz. Who's next?". Business Insider. Retrieved 21 July 2015.
  11. ^ a b Reardon, Marguerite (9 January 2009). "Verizon completes Alltel purchase". CNET. Retrieved 21 July 2015.
  12. ^ Sorkin, Andrew Ross; Holson, Laura M. (6 June 2008). "Verizon agrees to buy Alltel for $28.1 billion". The New York Times. Retrieved 21 July 2015.
  13. ^ Svensson, Peter (9 May 2009). "AT&T to buy Verizon territories, affecting 1M subscribers". The Associated Press. Retrieved 21 July 2015.
  14. ^ Dano, Mike (24 June 2014). "AT&T scoops up 40,000 customers, spectrum assets of Plateau Wireless". FierceWireless.com. Retrieved 21 July 2015.
  15. ^ Dano, Mike (21 April 2014). "Verizon Wireless consumes Golden State Cellular and Mobi PCS". FierceWireless.com. Retrieved 21 July 2015.
  16. ^ a b De La Merced, Michael J.; Scott, Mark (2 September 2013). "Verizon seals long-sought $130 billion deal to own wireless unit". The New York Times. Retrieved 21 July 2015.
  17. ^ Holton, Kate; Carew, Sinead (2 September 2013). "Verizon, Vodafone agree to $130 billion wireless deal". Reuters. Retrieved 21 July 2015.
  18. ^ Timberg, Craig (3 November 2014). "Verizon, AT&T tracking their users with 'supercookies'". The Washington Post. Retrieved 21 July 2015.
  19. ^ Peterson, Andrea (30 January 2015). "Verizon Wireless to allow customers to actually opt-out of controversial supercookie tracking". The Washington Post. Retrieved 21 July 2015.
  20. ^ Graziano, Dan (31 March 2015). "How to opt out of Verizon's 'supercookie' tracking program". CNET. Retrieved 21 July 2015.
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