Verizon Squashes Buyout Reports
Verizon Communications CEO Lowell McAdam said that the company is not holding discussions with partner Vodafone to purchase the remaining shares of Verizon Wireless. Verizon Wireless is a joint venture between Verizon Communications and Vodafone. Verizon Communications owns 55% of Verizon Wireless and Vodafone owns the remaining 45%. Reports surfaced earlier this week suggesting that Verizon Communications is looking to buy out its partner's stake in the joint venture. Lowell's comments, made to Reuters, put a stake in those reports.
Verizon to Buy Yahoo's Internet Business for $4.8B
Verizon Communications today said that it has agreed to buy Yahoo's core internet and search businesses for $4.83 billion. Yahoo's properties will join AOL under Verizon's ownership, to be managed by Marni Walden, EVP and President of the Product Innovation and New Businesses organization at Verizon.
Verizon CEO McAdam to Retire, Will Be Replaced by Vestberg
Verizon Communications today said long-serving Lowell McAdam will vacate his position as CEO on August 1. He will remain with the company as Executive Chairman of the Board through the end of the year, and then transition to a Non-executive Chairman role in 2019.
Verizon and Hearst to Acquire Complex for Mobile Content
Verizon Communications and Hearst have agreed to acquire Complex, a media organization founded by Mark Ecko that creates content for young adult audiences. Under the terms of the agreement, Verizon and Hearst will each own 50% of Complex through a joint venture.
Verizon and Hearst to Create Mobile Content for Millennials
Verizon Communications and Hearst today announced a new partnership that will eventually see original video content delivered to millennials via their phone. The Verizon Hearst Media Partners program will commence in the months ahead with two dedicated channels, one covering music, politics, military, food, and faith, and the second providing humorous takes on breaking news.
Verizon Debuts Discounted iPhone Promo
Verizon Wireless said customers can save big on select iPhones with a new offer that kicks off January 29. New and existing customers who add a new line of Verizon Unlimited service will be able to buy the iPhone 8, iPhone 8+, or iPhone X and get a $699 discount off a second iPhone 8, 8+, or X.