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BUSINESS
September 19, 2000 | Bloomberg News
Verizon Communications, the No. 1 U.S. local-telephone company, said its Verizon Wireless unit will invest more than $550 million next year in its Southern California digital and analog networks. The so-called dual-mode networks cover Los Angeles, Orange, Riverside, San Bernardino and Ventura counties. Shares of New York-based Verizon Communications fell $1.13 to close at $43.38 on the NYSE.
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BUSINESS
September 25, 2012 | Bloomberg News
Verizon Communications Inc. agreed to pay more than $260 million to a California company to end a patent-infringement lawsuit that targeted its video-on-demand feature for FiOS TV. Verizon and ActiveVideo Networks Inc. also agreed to a patent cross-license, ActiveVideo said in a statement. ActiveVideo didn't say how much Verizon is paying in total, except that it involves an unspecified sum in addition to $260 million earlier ordered by a federal court. The agreement was struck after a U.S. appeals court in August upheld a jury verdict that New York-based Verizon lost and an order that Verizon pay ActiveVideo $2.74 per month for each FiOS-TV subscriber.
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BUSINESS
February 8, 2008 | From Times Wire Services
Verizon Communications Inc. sued Charter Communications Inc., claiming infringement of eight patents for providing telephone services on a data network. Charter, the suburban St. Louis-based cable TV company should pay cash compensation for using the inventions without permission, New York-based Verizon said in a complaint filed Feb. 5 in federal court in Texarkana, Texas.
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
April 17, 2002 | Bloomberg News
Metromedia Fiber Network Inc. defaulted on a $30-million debt interest payment to Verizon Communications Inc., the second missed payment this month by the data cable owner controlled by billionaire John Kluge. The provider of links for Internet companies including AOL Time Warner Inc. averted bankruptcy last year by securing $611 million of financing, which included a $150-million note from Citigroup Inc. and a $230-million note convertible into stock.
NEWS
May 28, 2008
High-definition TV: An article in Section A on Tuesday about Los Angeles' receiving fewer high-definition TV channels than many other major markets said telecommunications provider Verizon Communications Inc. doesn't serve the city. Though Verizon doesn't offer pay-TV service in Los Angeles, it serves a small number of phone customers in parts of West Los Angeles and the San Fernando Valley.
BUSINESS
April 28, 2009 | Times Wire Reports
Verizon Communications Inc. said its earnings grew 5% in the first quarter, boosted by its acquisition of Alltel Corp. and strong demand for its wireless, Internet and TV services. Verizon earned $3.21 billion, or 58 cents a share, compared with $3.05 billion, or 57 cents, a year earlier. Revenue rose almost 12% to $26.6 billion.
BUSINESS
April 24, 2001 | Reuters
Verizon Communications said it is seeking permission from the Federal Communications Commission to offer long-distance phone service in Connecticut. Before it can offer long distance in its home territory, Verizon, like the other Baby Bell companies, must prove to regulators that it has opened its local networks to competitors. The Connecticut Department of Public Utility Control determined April 11 that Verizon met requirements in that state.
NEWS
December 10, 2000 | From Times Wire Reports
Verizon Communications worked to clear a backlog of millions of junk messages that slowed e-mail for as many as 200,000 of its Internet customers on the East Coast. Officials at New York-based Verizon, the company formed by the merger last summer of Bell Atlantic and GTE Corp., said its systems are still working but that some customers may experience delays of several hours in sending and receiving messages.
BUSINESS
January 17, 2008 | From Times Wire Services
Verizon Communications Inc., the second-largest U.S. phone company, sued competitor Cox Communications Inc., claiming infringement of eight patents for providing telephone services on a data network. New York-based Verizon also is seeking a court order to block Atlanta-based Cox, the third-largest cable TV company, from using the technology. Four of the eight patents at issue are the same ones that Verizon asserted successfully against Vonage Holdings Corp. last year. Vonage settled that case for $120 million.
BUSINESS
July 6, 2011 | Bloomberg News
Verizon Communications Inc. will pay $20 million to settle a U.S. lawsuit over unlawful policies for disabled workers, the Equal Employment Opportunity Commission said in resolving its largest discrimination case. Employees of New York-based Verizon and 24 subsidiaries were disciplined or fired when they needed more time off than allowed by the company's leave policies, according to a statement Wednesday from the commission, which oversees U.S. employment discrimination laws. Verizon, the second-largest U.S. telephone company, had a policy that set a maximum number of absences for employees, the commission said in a statement.
BUSINESS
January 28, 2011 | By Nathan Olivarez-Giles, Los Angeles Times
Verizon Communications Inc. is set to buy Terremark Worldwide Inc., an information technology services company, for $1.4 billion, part of an effort by the wireless carrier to boost its cloud-computing abilities. Verizon offered $19 a share in cash ? a 35% premium over Terremark's closing stock price Thursday of $14.05 a share. Terremark is a Miami-based firm that operates server banks used for Web hosting, cloud computing and IT security services to "some of the world's largest companies and U.S. government agencies" such as BMW and H&R Block.
BUSINESS
January 21, 2011 | Jim Puzzanghera, Los Angeles Times
Verizon Communications Inc. has taken to federal court its attempt to stop the Federal Communications Commission's controversial new rules to guarantee open Internet access. In a widely expected move, the telecommunications giant told the U.S. Court of Appeals for the District of Columbia that the FCC exceeded its authority when it enacted regulations last month to ensure so-called net neutrality. The regulations forbid owners of high-speed lines and airwaves from favoring their services over competitors'.
BUSINESS
October 22, 2010 | Bloomberg News
Verizon Communications Inc. reported third-quarter profit that beat analysts' estimates after more customers bought smart phones and signed up for data plans to operate them. Net income at Verizon, which co-owns its mobile-phone business with Vodafone Group, fell to $881 million, or 31 cents a share, from $1.18 billion, or 41 cents, a year earlier. Excluding payments related to its pension fund and charges from sales and acquisitions, profit was 56 cents a share, the New York company said Friday.
BUSINESS
August 6, 2010 | By Jennifer Martinez, Los Angeles Times
Federal regulators are giving up efforts to negotiate a compromise between Web companies and Internet service providers over so-called net neutrality rules intended to prevent discrimination in the way online traffic is treated. The Federal Communications Commission said Thursday it would no longer try brokering a deal among various phone, cable TV and Internet companies, saying that weeks of talks had not "generated a robust framework to preserve openness and freedom of the Internet."
BUSINESS
February 26, 2010 | David Lazarus
When it comes to high-speed Internet access, are you getting what you pay for? Venice resident Mike Mlikotin wanted to know what he was really being offered after Verizon Communications Inc. included a pitch for its broadband service in his most recent phone bill. It said that Mlikotin, 75, could lock in a lifetime rate of as low as $19.99 a month for an online speed of up to 1 megabit per second -- not the fastest clip you'll find on the Net, but plenty fast for most people.
BUSINESS
October 27, 2009 | Times Wire Reports
Verizon Communications Inc., the second-largest U.S. phone company, reported third-quarter profit that topped analysts' estimates after cutting workers and adding mobile-phone customers. Profit, excluding severance and other costs, amounted to 60 cents a share, New York-based Verizon said. That compared with the 59-cent average of estimates compiled by Bloomberg. Sales rose 10% to $27.3 billion, compared with the average projection of $27.2 billion.
BUSINESS
August 2, 2009 | TIMES STAFF AND WIRE REPORTS
Ever since the Palm Pre smart phone came out in June exclusively as a product for the Sprint Nextel network, there have been rumors about when it would be offered by other cell service providers. Last week, Verizon Communications Inc. confirmed that it would be offering the Palm Pre. The announcement came during a company conference call with industry analysts when Chief Operating Officer Dennis F. Strigl simply said: "We plan to offer the Palm Pre early next year." That was it. Information about just when Verizon will have the Palm Pre and how much it will cost will have to await future announcements.
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