Verizon Communications Inc. ( listen ) ( v? - RY -z? N ), or just Verizon , is an American multinational telecommunications conglomerate and a corporate component of the Dow Jones Industrial Average. The company is based at 1095 Avenue of the Americas in Midtown Manhattan, New York City, but incorporated in Delaware.
The US Department of Justice mandated AT & T Corporation to break the Bell System. One of the seven Baby Bells, Bell Atlantic , appeared in 1984 consisting of separate operating companies New Jersey Bell, Bell of Pennsylvania, Diamond State Telephone, and C & amp; P Telephone, with a trail from New Jersey to Virginia.
As part of the Baby Bells rebranding in the mid-1990s, all Bell Atlantic operations firms took over the name of the parent company. In 1997, Bell Atlantic flourished to New York and the state of New England by joining fellow Baby Bell NYNEX. Although Bell Atlantic is the name of a surviving company, the combined company moved its headquarters from Philadelphia to NYNEX headquarters in New York City. In 2000, Bell Atlantic acquired GTE, which operates telecommunications companies in most other parts of the country that are not yet on the Bell Atlantic footprint. Bell Atlantic, the living entity, changed its name to "Verizon", a portmanteau veritas (Latin for "truth ") and horizon .
In 2015, Verizon expanded its business into content ownership by acquiring AOL, and two years later acquired Yahoo !. AOL and Yahoo merged into a new division called Oath Inc.
By 2016, Verizon is one of the three remaining companies that are rooted in former Baby Bells. The other two, like Verizon, existed as a result of the merger among fellow Baby Bell members before. SBC Communications, bought the parent company Bells, AT & amp; T Corporation, and took the name of AT & T. CenturyLink, formed initially in 2011 by the acquisition of Qwest (formerly US West).
Verizon's subsidiary Verizon Wireless is the largest US wireless communications service provider in September 2014, with 147 million mobile subscribers. And by 2017, Verizon is the only publicly traded telecommunications company that has two stock lists in its home country, both NYSE (VZ) and Nasdaq (VZA). In 2017, it is also the company's second largest telecommunications based on revenue after AT & T.
Video Verizon Communications
Histori
Bell Atlantic (1983-2000)
Bell Atlantic Corporation was created as one of the original Regional Bell Operating Companies (RBOCs) in 1984, during the outbreak of the Bell System. The Atlantic Atlantic operating list includes:
- Telephone Company Bell Pennsylvania
- New Jersey Bell
- Diamond Country Phone
- C & amp; P Telephone (consisting of four subsidiaries)
Bell Atlantic originally operated in the states of New Jersey, Pennsylvania, Delaware, Maryland, West Virginia, and Virginia, as well as Washington, DC.
In 1994, Bell Atlantic became the first RBOC to completely drop the original name of its original operating company.
In 1996, CEO and Chairman Raymond W. Smith set Bell Atlantic merger with NYNEX. When the merger, the company moved its headquarters from Philadelphia to New York City. NYNEX was consolidated into this name in 1997.
The acquisition of GTE (2000-2002)
Bell Atlantic changed its name to Verizon Communications in June 2000 when the Federal Communications Commission approved the acquisition of a $ 64.7 billion GTE telephone company, nearly two years after the agreement was filed in July 1998. The agreement came with 25 provisions to preserve competition between locales. phone operators, including investment in new markets and broadband technologies. The new entity is headed by co-CEO Charles Lee, former CEO of GTE, and Bell Atlantic CEO Ivan Seidenberg.
After the acquisition, Verizon became the largest local telephone company in the United States, operating 63 million phone lines in 40 states. The company also inherited 25 million cellular subscribers. In addition, Verizon offers Internet and long distance call services in New York, before expanding remote operations to other countries.
The name Verizon comes from a combination of veritas , Latin for truth, and the horizon. The name was chosen from 8,500 candidates and the company spent $ 300 million to market a new brand.
Two months before the FCC gave final approval to the establishment of Verizon Communications, Bell Atlantic established Verizon Wireless in a joint venture with UK telecommunications company Vodafone in April 2000. These companies set up Verizon Wireless as their own business operated by Bell Atlantic, owned 55% of the business. Vodafone retains 45% of the company. The deal is worth about $ 70 billion and creates mobile operators with 23 million subscribers. Verizon Wireless incorporates Bell Atlantic wireless network, owned by Vodafone AirTouch, and PrimeCo, and wireless division of GTE. Because of its size, Verizon Wireless is able to offer nationwide coverage at competitive rates, providing more benefits than most regional providers.
During its first operational year, Verizon Wireless released Mobile Web, an Internet service that allows customers to access partner sites such as E * Trade, ABC News, ESPN, Amazon.com, Ticketmaster and MSN, and the "New Every Two" program, which gives customers free mobile phones with every two year service contract. In another partnership with MSN in 2002, Verizon Wireless launched the "VZW with MSN" mobile content service and phones that utilize Microsoft Windows operating systems.
In August 2000, about 85,000 Verizon workers went on strike 18 days after their union contract expired. The strike had an impact on quarterly revenues, resulting in delays in Verizon Wireless from the company's IPO (the IPO was finally canceled in 2003, since the company no longer needs to increase revenues for Verizon Wireless due to increased profits), and created repair guarantees. Verizon launched its 3G service in 2002, which doubled the speed of the Internet from time to 144kb per second. In August 2002, Verizon began offering local, long distance, and mobile calls, as well as Internet services, in one package. Initially only available to customers in New York and Massachusetts.
2003-2005
In June 2003, Verizon Wireless endorsed the FCC's portability requirements that allowed consumers to take their phone number with them across carriers. The company gained 1.5 million new subscribers in the following quarter, partly due to a change of rules. The following year, in April 2004, the Dow Jones Industrial Average added Verizon Communications to its stock market index. Verizon replaces AT & amp; T, which has been part of the index since the Great Depression.
On December 22, 2004, an email server on Verizon.net was configured not to accept connections from Europe, by default, in an effort to reduce spam emails originating from the region. Individual domain will only be revoked if requested.
In 2004, Verizon launched its Fios Internet service, which transmits data via fiber optic cables, in Keller, Texas. The company launched Fios TV in September 2005, also in Keller, Texas. Twenty percent of eligible homes enroll at the end of the year. In January 2006, Fios offered more than 350 channels in eight states, including 20 high definition television channels as well as on demand videos.
MCI acquisition
Verizon started negotiations to buy MCI remotely in 2005. MCI received an initial $ 6.75 billion offer in February 2005, but later received a higher offer from Qwest Communications. Verizon increased its offer to $ 7.6 billion (or $ 23.50 per share), received by MCI on March 29, 2005. The acquisition gives the company access to one million corporate clients and international ownership of MCI, expanding Verizon's presence into the global marketplace. As a result, Verizon Business was established as a new division to serve the corporate business and government customers. The FCC approved the agreement on November 5, 2005, with a valuation of $ 8.5 billion. Verizon's 2006 revenue increased 20% after purchase.
2006-2010
In May 2006, USA Today reported that Verizon, as well as AT & amp; T and BellSouth, have provided a landline record of the National Security Agency after the September 11 attacks. In the same month, a $ 50 billion lawsuit was filed by two lawyers on behalf of all Verizon customers for a privacy violation and to prevent the company releasing additional recordings without approval or warrant. The protesters staged the age of National Day Out (R) because of some controversy. Verizon stated in 2007 that the company only fulfills "lawsuits" for information, although it also recognizes submitting customer information to government agencies without a court order or guaranteeing 720 times between 2005 and 2007.
Verizon won a lawsuit against Vonage in March 2007 for patent infringement. Three patents were named by Bell Atlantic in 1997 and relate to the conversion of IP addresses into telephone numbers, the key technology of the Vonage business. The company received compensation of US $ 58 million and royalties in the future. Vonage then lost the appeal and was ordered to pay Verizon $ 120 million.
In May 2007, Verizon acquired Cybertrust, a privately held private information security service provider. This purchase represents Verizon's intention to offer security solutions to its global enterprise customers.
Verizon Wireless reversed its controversial decision in September 2007 to reject NARAL Pro-Choice America a short code in which organizations can send messages to consumers who have signed up to send messages from the group. They initially denied group access to the code by requesting the right to block messages "controversial or inappropriate".
In November 2007, Verizon opened its network for the first time to third party applications and devices, a decision that enabled it to participate in the "open access" auction at the 2008 FCC 700 MHz auction. During the auction, the company offered $ 9.4 billion and won most of the national and local licenses for airwaves reaching about 469 million people. Verizon takes advantage of the increased spectrum for its 4G services.
Verizon Wireless purchased wireless carrier Alltel for $ 28.1 billion in June 2008. The acquisition involved 13 million subscribers, allowing Verizon Wireless to surpass AT & amp; T in the number of customers and reach new markets in rural areas.
In October 2010, Verizon Wireless paid $ 77.8 million in refunds and FCC penalties for charging over 15 million subscribers for data services. The company stated that the additional cost was unintentional and only amounted to several dollars per customer.
On February 4, 2010, 4chan began receiving reports from Verizon Wireless customers that they had trouble accessing the site's drawing board. The 4chan administrator found that only traffic on port 80 to board.4chan.org domains was affected, leading them to believe that the block was intentional. On February 7, 2010, Verizon Wireless confirmed that 4chan.org was "explicitly blocked" after Verizon's security and external experts detected sweep attacks originating from IP addresses associated with 4chan networks. Traffic is restored a few days later.
In August 2010, the chairman of Verizon and Google agreed that network neutrality should be determined and restricted.
Verizon introduced its 4G LTE network in 38 markets in December 2010, as well as at airports in seven additional cities. The company plans to expand 4G services continuously for three years.
Selling wireline (2005-2010 & amp; 2015)
Between 2005 and 2010, Verizon divested wireline operations in several states to focus on wireless business, Fios internet and Fios TV. It sold 700,000 lines in Hawaii in 2005, and spun the line in Maine, New Hampshire and Vermont in January 2007 which was later purchased by FairPoint Communications for $ 2.72 billion. Verizon also relinquished its phone directory business in 2006.
In May 2009, the company broke wireline in Arizona, Idaho, Illinois, Indiana, Michigan, Nevada, North Carolina, Ohio, Oregon, South Carolina, Washington, West Virginia and Wisconsin into a company that later merged with Frontier Communications on a $ 8.6 billion. In 2016, Verizon sold wireline operations in Texas, Florida, and California to Frontier.
2011-present
On January 27, 2011, Verizon acquired Terremark, an information technology services company valued at $ 1.4 billion. Ivan Seidenberg retired as Verizon's CEO on August 1, 2011. Lowell McAdam replaced him.
In December 2011, the Public Campaign of non-partisan organizations criticized Verizon for tax evasion procedure after spending $ 52.34 million to lobby while collecting $ 951 million in tax rebates between 2008 and 2010 and generating a profit of $ 32.5 billion. The same report also criticized Verizon for increasing the executive's salary by 167% in 2010 for its top five executives while laying off 21,308 workers between 2008 and 2010. However, in Form 10-K submitted to the SEC on February 24, 2012, Verizon reported. has paid more than $ 11.1 billion in taxes (including income, employment and property taxes) from 2009 to 2011. In addition, the company reported in 10-K that most of the job decline since 2008 was due to voluntary retirement offer.
In June 2012, as part of a strategy to expand new areas of growth in wireless business, Verizon bought Hughes Telematics - a company that produces wireless features for cars - for $ 612 million. Also in June 2012, Verizon's E-911 failed after a June 2012 derro storm in some northern suburbs of Virginia Washington, D.C., with some problems lasting several days. The FCC conducted an investigation and in January 2013 released a report detailing the problem that caused the failure. Verizon reports that it has been addressed or is addressing a number of issues related to the FCC report, including the cause of the generator failure, performing a backup system audit and making its monitoring system less centralized, even though the FCC indicates that Verizon is still required to make additional improvements.
In July 2012, the FCC decided that Verizon should stop charging additional fees to users to use 4G smartphones and tablets as Wi-Fi hotspots (known as "tethering"). Verizon has billed its customers, even those with an "unlimited" package, $ 20 per month for withdrawals. As part of the settlement, Verizon made a $ 1.25 million voluntary payment to the US Treasury.
In August 2012, the Justice Department approved the purchase of Verizon's Advanced Wireless Services (AWS) spectrum from a consortium of cable companies, including Comcast, Time Warner Cable and Bright House Networks, for $ 3.9 billion. Verizon began expanding its LTE network utilizing this extra wave in October 2013.
On 5 June 2013, The Guardian reportedly received an order by the Federal Bureau of Investigation (FBI) and approved by the United States Foreign Intelligence Supervisory Tribunal requiring Verizon to provide the NSA with phone metadata for all calls originating from Verizon US Wireless is not part of NSA data collection for wireless accounts due to foreign ownership issues. (see also MAINWAY article)
In September 2013, Verizon bought 45% of Vodafone's Verizon Wireless stake for $ 130 billion. The deal closes on February 21, 2014, becoming the third largest signed deal company, giving Verizon Communications a sole proprietary Verizon Wireless.
On January 14, 2014, the DC Circuit Court of Appeals struck the FCC net neutrality rule after Verizon filed a lawsuit against them in January 2010. In June 2016, in a 184 page decision, the US Court of Appeals for the Circuit District of Columbia was enforced, with a 2-1 vote , FCC net neutrality rules and FCC's determination that broadband access is a public utility, not a luxury. AT & T and the telecom industry said they would seek to appeal the decision to the Supreme Court.
On January 22, 2014, the Wall Street Journal reported that Verizon received more than 1,000 requests for information about its customers in the national security area through the National Security Mail. In total, Verizon received 321,545 requests from federal, state and local law enforcement for US customer information. In May 2015, Verizon agreed to pay $ 90 million "to complete federal and state investigations on allegations of mobile subscribers being billed incorrectly for premium text messaging."
In August 2015, Verizon launched Hum, a service and device offering vehicle diagnostic and monitoring tools for vehicles. On August 1, 2016, Verizon announced the acquisition of Fleetmatics, a $ 2.4 billion fleet telematics company in Dublin, Ireland, to build the product it offers for companies for logistics and mobile workforce. On September 12, 2016, Verizon announced the acquisition of Sensity, a startup for LED sensors, in an effort to improve its IoT portfolio.
In October 2016, Verizon was accused by the American Communications Staff of deliberately refusing to maintain his copper telephone service. The organization released internal memos and other documents stating that Verizon workers in Pennsylvania are being instructed, in areas with network problems, migrate voice customers only to VoiceLink - a system that delivers phone services over the Verizon Wireless network, and not to repair copper lines. VoiceLink has limitations, including incompatibility with services or devices that require data transmission over phone lines, and dependence on battery backups in the event of a power failure. The memo warns that technicians not following this procedure will be subject to "disciplinary action up to and including dismissal". A Verizon spokeswoman responded to the allegations, stating that the company's top priority is to restore service to its customers as quickly as possible, and that VoiceLink is a tool to do so if larger improvements must be made to infrastructure. The spokesperson stated that "it is difficult to argue with disciplining someone who intentionally leaves a customer without service".
In November 2016, Verizon acquired the startup mapping of SocialRadar; the technology will be integrated with MapQuest.
On January 26, 2017, The Washington Post reported that Verizon was in talks to join the Charter of Communications.
On March 13, 2017, Verizon was sued by New York City for violating its cable franchise agreement, which required providers to forward fiber-optic networks to all households in the city on June 30, 2014. Verizon denied the claim, citing landlords not providing it. permission to install the equipment on their property, and understanding with the government that the fiber network will follow the same route as the copper path, and by no means have to cross the line in front of each property.
On April 27, 2017, Verizon invested $ 10 million in Renovo Auto, an automotive vehicle company based in Campbell, California.
Verizon Connect was created in 2018, incorporating individual units of Telematics, Fleetmatics, and Telogis.
Acquisition of AOL and Yahoo (Oath)
On May 12, 2015, Verizon announced that it would earn AOL $ 50 per share, for transactions worth approximately $ 4.4 billion. The next year, Verizon announced that it would acquire Yahoo's core internet business for $ 4.83 billion. Upon completion of the acquisition, Verizon created a new division called Sumpah, which includes the AOL and Yahoo brands. The sale does not include Yahoo shares in Alibaba Group and Yahoo! Japan.
On March 16, 2017, Verizon announced that it would stop the e-mail service provided to its Internet customers, and migrate it to AOL Mail.
On May 23, 2017, Verizon Lowell's CEO McAdam confirmed the company's plan to launch a streaming TV service. The integrated AOL-Yahoo operations, placed under the newly created oath division, will be organized around the main content-based pillars.
In an agreement officially closed on June 13, 2017, Yahoo! shareholders approved the sale of some of the company's internet assets to Verizon for $ 4.48 billion.
Maps Verizon Communications
Marketing campaign
From the beginning, Verizon Communications has run several marketing campaigns, including:
Can not you hear me now?
"Can you hear me now?" The campaign, created for the newly formed Verizon Wireless, began running in 2001 and featured actor Paul Marcarelli in the role of "Test Man," a character based on Verizon network testers who travel to the country, "Can you hear me now?". The campaign, originally drawn up by Bozell's agency in New York, runs from early 2001 to September 2010. Data from the Yankee Group's technology tracking company shows that, in the early years of the campaign, net customers grew 10% to 32.5 million in 2002 and 15% more to 37.5 million in 2003. In addition, customer turnover fell to 1.8% in 2001, down from 2.5% in 2000. In 2011, Marcarelli parted ways with Verizon and is now a spokesman Sprint.
There is a map for it
The "There's a map for it" campaign launched in late 2009. It's designed as a parody of AT & amp; T "There is an app for it". The ads portray side-by-side comparisons from Verizon and AT & T's network coverage maps. AT & amp; T filed suit in Atlanta federal court in early November 2009, claiming that the coverage maps used in the advertisement were misleading. The lawsuit was dropped that month along with Verizon who dropped a similar lawsuit against AT & amp; T.
That's not cool
In 2009, Verizon joined the Ad Council, in partnership with the Family Violence Prevention Fund and the Office of Violence Against Women, to create a "It's not cool" campaign. This public service ad campaign is designed to help teenagers recognize and prevent the abuse of digital dating. Verizon runs ads on its Wireless Web Mobile, Verizon FiOS internet and TV services.
Strong Answer
In January 2013, Verizon launched a "Strong Answer" campaign designed by McGarryBowen agents. The campaign is centered around contests where a $ 10 million prize is offered to individuals to find solutions for the "world's greatest challenge" by leveraging Verizon's cloud, broadband and wireless network. The winner of the inaugural competition was announced at the 2014 Consumer Electronics Show. Israel-based TinyTap won the education category, Smart Vision Labs of Newport, Rhode Island won the health category, and Mosaic Inc. from Oakland, California won in the sustainability category.
Inspires His Mind
Verizon launched his "Inspire Her Mind" ad in June 2014. The ad, created by the AKQA agency, is designed to encourage girls' interest in science, technology, engineering, and math. It aims to address the findings of the National Science Foundation, whose research shows that 66 percent of fourth-grade girls say they love science and math, but only 18 percent of students in engineering and mathematics are women.
Flipside Stories (#NeverSettle)
Verizon launched the Flipside Stories ad campaign in February 2015 featuring #NeverSettle hashtag. These ads feature dramatized "testimonials" from people with and without Verizon Wireless or Verizon Fios services.
Better Matters
In 2016, Verizon began using the slogan "Better Matters" as a reference for its wireless network and Fios. For wireless, it relies heavily on the larger coverage map, and the RootScore RootMetrics award. For Fios, it relies on the fact that "Fios has different cabling [from cable]", because Fios is fiber to home, and its local competitors do not.
Humanability Campaign
Verizon launched its Humanability campaign in 2017. The company aims to show advertisements to consumers and investors, diversifying sources of revenue and technology beyond smartphones. These include online advertising, data collection, Internet of Things, smart cities, telematics, and media.
Corporate governance
Board of Directors
The Board of Directors currently comprises the following in February 2017:
Lowell McAdam, CEO of Verizon (chairman of the board)
Shellye Archambeau, CEO of MetricStream Mark Bertolini, CEO of Aetna - Richard CarriÃÆ'³n, CEO of Popular, Inc.
Melanie Healey, former President of Procter & amp; Gamble
Frances Keeth, former Executive Vice President of Royal Dutch Shell
Karl-Ludwig Kley, former CEO and Chairman of Merck Group
Clarence Otis, Jr., former CEO and Chairman of Darden Restaurants - Rodney E. Slater, former US Secretary of Transportation and current partner at Squire Patton Boggs
Kathryn Tesija, former Executive Vice President of Corporate Corporations - Gregory Wasson, former CEO and Chairman of Walgreens Boots Alliance - Gregory Weaver, former CEO of Deloitte audit and corporate risk division
Executive
Beginning November 1, 2017:
Tim Armstrong, CEO of Oath
Hans Vestberg, EVP & amp; President of Verizon Network and Technology - John Stratton, EVP & amp; Verizon Global Operations President
Ronan Dunne, President of Verizon Wireless
In June 2018, Verizon announced Hans Vestberg, who in 2016 dismissed as CEO of Ericsson, will become the next Verizon CEO on August 1st. McAdam will continue to serve as chairman of the board, albeit only in a non-executive capacity after the end of 2018.
Corporate Responsibility
The Verizon Foundation is a philanthropic branch of Verizon Communications, donating approximately $ 70 million annually to nonprofit organizations, focusing on education, prevention of domestic violence, and energy management. Verizon's educational initiatives have focused on the STEM field, including: a national competition for students to develop mobile app concept; the Verizon Innovative Learning Schools program, provides professional development for teachers in underserved areas; and provides students with hardware and wireless services as part of President Obama's ConnectED program. The company also runs HopeLine, which has provided mobile phones to about 180,000 victims of domestic violence, and a program that offers grants for victims of domestic violence to start or grow home-based businesses. As part of an initiative to reduce the company's carbon intensity metric to 50 percent by 2020, Verizon announced planned investments in solar panels and natural gas fuel cells at its facilities. Capacity building will make Verizon the leading solar power producer among US communications companies.
Criticism
Security worries
According to Google Project Zero researchers, Tavis Ormandy Verizon applies a simple certification methodology to award the "Excellence in Information Security Tests", e.g. to Comodo Group. It focuses on GUI functionality instead of testing the relevant security features. Undetectable is a Chromodo browser that disables the same origin policy, VNC sent with weak authentication, does not allow address space layout (ASLR) randomization while scanning, and uses access control lists (ACLs) across its products.
Net Neutrality
Verizon and Comcast have been actively lobbying for the current changes in FCC regulations that require internet service providers to offer all content on a single internet speed regardless of the type of content since the early 2000s. In 2014, Verizon failed to sue the FCC for this power. Verizon has admitted to strangling content from its competitors.
Sponsors and places
Verizon is the main sponsor of several major performances and sports venues as well as sponsorship of several major sports organizations.
National Hockey League
In January 2007, Verizon secured exclusive marketing and promotional rights with the National Hockey League. The deal was extended for three years in 2012 and includes new provisions for the league to provide exclusive content through the Verizon GameCenter app.
Motorports
In 2009 and 2010 Verizon sponsored Justin Allgaier in the NASCAR Nationwide Series, before they chose to quit sponsorship of a two-year-old NASCAR team with Penske Racing to pursue an expanded presence with the IndyCar Series. In March 2014 Verizon signed a multiyear deal making them the main sponsor of the IndyCar Series, now called Verizon IndyCar Series. In 2012, Verizon is featured on both sides of the McLaren car in the US Grand Prix.
National Football League
In late 2010, Verizon Communications joined Vodafone Group in a joint partnership to replace Sprint as the official wireless telecommunications partner of the National Football League. The four-year deal is estimated at $ 720 million. In June 2013, Verizon announced a four-year extension with the NFL on a reported deal worth $ 1 billion. The new agreement gives Verizon the right to stream every regular game and NFL playoffs.
Venues
Verizon is the main sponsor for a number of sports and entertainment arenas at the Verizon Arena in North Little Rock, Arkansas; and Verizon Center in Mankato, Minnesota. SNHU Arena in Manchester, New Hampshire was originally known as the Verizon Wireless Arena until September 2016, when Southern New Hampshire University gained naming rights for a period of at least 10 years.
Verizon is also currently the primary sponsor of five amphitheaters entertainment at locations across the United States, four individually referred to as "Verizon Wireless Amphitheater": in Irvine, California; Maryland Heights, Missouri; Selma, Texas; and Alpharetta, Georgia. The fifth is the Verizon Theater in Grand Prairie, Texas.
Verizon is a former sponsor of Capital One Arena in Washington, DC;
The main concert hall at the Philadelphia Orchestra at Kimmel Center for Performing Arts is named Verizon Hall.
See also
- List of US phone companies
References
External links
- Official website
Source of the article : Wikipedia
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