Verizon Communications CEO Lowell McAdam wants Congress to take a tougher stance on rules governing bidding in spectrum auctions, and called out Dish Network in particular for its bidding strategy in the AWS-3 auction. In a letter to key lawmakers, McAdam also urged Congress to be more proactive in regulating telecommunications, curb the FCC's recently approved net neutrality rules and rewrite and update the Telecommunications Act.
Verizon yesterday appointed John Stratton as the new chief of its wireless business, replacing Dan Mead, who had been the CEO of Verizon Wireless since 2010. Mead will stay with the company to oversee the sale of Verizon's wireline operations in California, Florida and Texas to Frontier Communications, and will retire after that.
Verizon Communications may be talking to AOL about a potential content partnership, but it is not interested in acquiring the company. Speaking at the 2015 Citi Global Internet, Media & Telecommunications conference in Las Vegas today, Verizon Chairman and CEO Lowell McAdam said that yesterday's Bloomberg report claiming that Verizon approached AOL about a potential acquisition or joint venture is inaccurate. "I think of AOL and a lot of other media companies as potential partners," he said. "But saying we are having significant acquisition discussions is not accurate."
Verizon Communications has hired TAP Advisors LLC to look into a sale of network assets including its cell towers, according to a Reuters report.
Verizon Communications was opened up to the possibility of selling its wireless towers because of AT&T's agreement last year to sell and lease 9,700 of its cell towers to Crown Castle in a $4.85 billion deal, according to Verizon Communications CFO Fran Shammo. Financial analysts think that Verizon has around 12,500 to 15,000 towers and could be looking to sell a substantial portion of those.
Verizon Communications expects to launch its own Internet-based video service by the middle of 2015, the company's chief executive, Lowell McAdam, revealed Thursday.
Verizon CEO Lowell McAdam said the carrier's wireless postpaid retail net additions have grown 40 percent so far during the third quarter when compared with last year's period, when the company posted 927,000 additions. However, he said the carrier's margins will be pressured in the third quarter due to surprisingly sluggish sales of Verizon's handset upgrade program, called Edge.
During an appearance on CNBC, Verizon Communications CEO Lowell McAdam said the company will report "over 1.4 million" postpaid net customer additions in the second quarter. That's way up from the 941,000 postpaid customers Verizon added in the second quarter of last year.
Verizon might not be interested in buying Dish Network but the company is very interested in snatching up the satcaster's wireless spectrum, according to a news report.
T-Mobile US CEO John Legere has been unabashed and aggressive in getting the carrier back to growth, delivering 3.7 million net new subscribers from the second through fourth quarters of 2013. He also was paid to the tune of $29.2 million in 2013, making him the second highest paid wireless executive in 2013 after Sprint CEO Dan Hesse.