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."
Claiming that Verizon Communications has always operated under an open Internet policy, company EVP and CFO Fran Shammo said today that he is confident the FCC will make the right decision regarding net neutrality. However, he added that if the regulation should pass, he is concerned that it will create a very litigious environment.
Verizon Communications lead a $9.4 million investment round in Flint Mobile, a mobile payments service that uses software to process transactions instead of hardware, giving the company a boost from a major carrier.
Verizon Communications is not going to bid for assets that América Móvil is going to sell off, according to CFO Fran Shammo. Meanwhile, thanks to rules being put in place by Mexico's telecommunications regulators, AT&T could face hurdles if it decides to acquire some of the assets.
Verizon Communications is teaming up with General Electric to provide connectivity for GE's software-enabled industrial machines and devices. The partnership comes exactly a year after GE and AT&T struck a similar arrangement.
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 is handling about 300,000 conversions from copper to fiber per year but it still has about 1 million homes left to convert to fiber before it wraps up its entire conversion plan that it has been working on for three years, said a top company executive today.
Verizon's FiOS results bounced back in the second quarter, with revenues rising 14.4 percent year-over-year to $3.1 billion due to an uptick in both broadband and video subscriptions.
The trend toward Software-Defined Networking (SDN) and Network Function Virtualization (NFV) is one of the major networking transformations sweeping operators around the globe, but one Verizon executive warned that the carrier needs to think through how SDN and NFV will impact its actual operations.