Verizon Communications, the company formed last week by the merger between GTE and Bell Atlantic, cut the price for its high-speed Internet service by 20% for East Coast customers to better compete with cable providers offering a similar product.
The Personal Infospeed DSL service from Bell Atlantic now costs $39.95, down from $49.95, in 12 northeastern and mid-Atlantic states and the District of Columbia. DSL, or digital subscriber line, uses electronics to speed information over copper phone lines up to 11 times faster than with traditional dial-up modems.
Verizon is considering DSL price reductions in California, said spokeswoman Julia Wilson.
Verizon shares lost 63 cents Thursday to close at $53.81 on the New York Stock Exchange.