BUSINESS
April 18, 2012 | By Jim Puzzanghera, Los Angeles Times
WASHINGTON - Verizon Wireless plans to sell billions of dollars' worth of prime airwaves if regulators approve its planned purchases of new chunks of spectrum primarily from large cable companies. Verizon, which paid about $4.4 billion in 2008 in a government auction of coveted airwaves in the 700-megahertz band, said it no longer would need that spectrum to deploy its fourth-generation LTE network if the cable deals are approved. Among the spectrum Verizon plans to sell are swaths covering Los Angeles, New York, Chicago and other major metropolitan areas.
BUSINESS
April 18, 2012 | By Jim Puzzanghera, This post has been corrected. See the note below for details
WASHINGTON -- Verizon Wireless said it would sell billions of dollars worth of prime airwaves if regulators approve its planned purchases of new chunks of spectrum that come mainly from large cable companies. Verizon paid about $4.4 billion in 2008 in a government auction of coveted airwaves in the 700-megahertz band that the company said it no longer would need if the other deals are approved. The wireless giant's announcement Wednesday was designed to reduce criticism from competitors and public interest groups about its purchase of spectrum from a consortium of Comcast Corp., Time Warner Cable Inc. and Bright House Networks, as well as other acquisitions of spectrum from Cox Communications Inc. and Leap Wireless International Inc. “Since wireless operators, large and small, have expressed concern about the availability of high-quality spectrum, we believe our 700 megahertz licenses will be attractive to a wide range of buyers,” said Molly Feldman, vice president of business development at Verizon Wireless. The Federal Communications Commission and the Department of Justice are reviewing Verizon's new spectrum purchases.
BUSINESS
April 13, 2012 | By Marc Lifsher, Los Angeles Times
SACRAMENTO - A coalition led by AT&T Inc. and Verizon Communications Inc. is backing legislation that critics contend would strip the state Public Utilities Commission of its last vestige of regulatory power over basic land-line telephone service. The bill, authored by the powerful chairmen of the Senate and Assembly committees overseeing utilities, would ensure that state agencies have "no regulatory jurisdiction or control" over telephone calls that involve sending voice signals over the Internet.
BUSINESS
February 10, 2012 | By David Sarno, Los Angeles Times
The iPhone has been a huge hit for Apple Inc., helping send the company's stock to all-time highs and producing record-breaking profits. But for AT&T Inc., Sprint Nextel Corp. and Verizon Communications Inc., it's breaking the bank. The three wireless carriers all found themselves answering to Wall Street in recent weeks for posting depressed quarterly earnings, and analysts pointed to the heavy cost of offering the iPhone as a culprit. The iPhone has become the single most popular smartphone in the U.S., and that has left the carriers trapped in a kind of Faustian deal: The more iPhones they sell, the more money they lose.
BUSINESS
February 7, 2012 | By Ben Fritz, Los Angeles Times
Redbox is hooking up with Verizon Communications Inc. as part of a major step forward to compete with Netflix Inc. in both the digital and physical worlds. The company famous for its ubiquitous red DVD rentals kiosks announced Monday that it would form a joint venture with telecom giant Verizon to create an online movie subscription service. Redbox also agreed to spend up to $100 million to acquire the Blockbuster-branded DVD kiosks operated by NCR Corp., its largest competitor in that business, adding about 9,000 machines to its existing base of 35,400.
NEWS
February 7, 2012 | By Nathan Olivarez-Giles
You could call it the ghost of Christmas sales past. Verizon's double-data promotion for 4G smartphones will return on Friday. First introducted in November and running just past the new year, the double-data offer raises the caps on Verizon 4G customers' data plans at no additional cost. The promotion is only available on Verizon's 4G smartphones and only to customers who are either new to Verizon or are upgrading from a non-4G handset to a 4G phone, said Ken Muche, a Verizon spokesman.