Verizon Communications Inc.
American multinational telecommunications conglomerate offering wireless, wireline, and broadband services, one of the largest telecommunications companies in the United States.
Company Type
public
Founded
2000
Headquarters
New York City, New York, USA
Stock
NYSE: VZ
About Verizon Communications Inc.
Verizon operates through two main business segments: Consumer and Business. The Consumer segment provides wireless services, wireline services, and broadband to individual customers and households. This includes Verizon Wireless, FiOS fiber-optic internet and television, and traditional telephone services.
The Business segment provides telecommunications services to businesses, government agencies, and educational institutions. This includes wireless and wireline services, advanced communications platforms, and professional services.
Verizon's wireless operations include Verizon Wireless, one of the largest wireless carriers in the United States with millions of customers nationwide. The company offers various wireless plans, devices, and services, including 5G network coverage and international roaming.
The wireline segment includes traditional telephone services, VoIP (Voice over IP) services, and business communications solutions. Verizon also operates one of the largest fiber-optic networks in the United States through its FiOS service.
Verizon employs approximately 117,000 people worldwide and generates annual revenues exceeding $130 billion. The company serves millions of customers across the United States and internationally, maintaining leading positions in wireless, wireline, and broadband markets.
History of Verizon Communications Inc.
Verizon Communications was formed on June 30, 2000, through the merger of Bell Atlantic and GTE, creating one of the largest telecommunications companies in the United States. Bell Atlantic was one of the seven Regional Bell Operating Companies created after the breakup of AT&T in 1984, while GTE was a major independent telecommunications company.
Bell Atlantic had grown through acquisitions throughout the 1990s, including the acquisition of NYNEX in 1997, which expanded its presence in the Northeastern United States. The company had also acquired several wireless companies that would become part of Verizon Wireless.
GTE was a major telecommunications company with operations across the United States, providing local telephone service, wireless services, and other telecommunications products. The company had a significant presence in both urban and rural markets.
The 2000 merger combined Bell Atlantic's strong East Coast presence with GTE's national footprint, creating a telecommunications powerhouse with both wireless and wireline operations. The company adopted the Verizon brand, which had been introduced for wireless services in 2000.
Throughout the 2000s and 2010s, Verizon expanded through strategic acquisitions, including the purchase of MCI in 2006, which strengthened its business services capabilities. The company also invested heavily in fiber-optic infrastructure through its FiOS service and expanded its 5G wireless network.
In recent years, Verizon has focused on 5G deployment, edge computing, and digital transformation initiatives to maintain its competitive position in the rapidly evolving telecommunications market.
Brands Owned by Verizon Communications Inc.
Verizon Communications Inc. owns 0 brands in our database.
Stock Information
Verizon Communications Inc. Ownership: Pros & Cons
Advantages
- +Market leadership position in U.S. wireless and wireline telecommunications
- +Extensive fiber-optic network and 5G infrastructure
- +Strong brand recognition and customer base
- +Diversified revenue streams across multiple telecommunications segments
- +Significant scale and global reach
Considerations
- -Intense competition from other wireless carriers and technology companies
- -Regulatory scrutiny over market dominance and competitive practices
- -High capital requirements for network infrastructure investment
- -Transition challenges from traditional to digital services
- -Balance between legacy operations and innovation investments
Frequently Asked Questions About Verizon Communications Inc.
Is Verizon a subsidiary of another company?
Verizon is an independent, publicly traded corporation with no parent company. The company operates independently with its own management structure and board of directors, though it has grown through numerous acquisitions throughout its history.
Is Verizon publicly traded?
Yes, Verizon is publicly traded on the New York Stock Exchange under the ticker symbol VZ. The company has been publicly traded since the merger in 2000, allowing investors to purchase shares and own a portion of the company.
When was Verizon founded?
Verizon Communications was formed on June 30, 2000, through the merger of Bell Atlantic and GTE. However, the company's component businesses have much longer histories, with Bell Atlantic tracing its origins to the breakup of AT&T in 1984.
Who founded Verizon?
The modern Verizon was created through the merger of Bell Atlantic and GTE in 2000. The merger was led by Bell Atlantic CEO Ivan Seidenberg and GTE CEO Charles R. Lee, bringing together two major telecommunications companies.
What is Verizon's market position?
Verizon is one of the largest telecommunications companies globally by revenue and the largest telecommunications company in the United States. The company maintains leading positions in wireless, wireline, and broadband markets, with extensive network infrastructure and millions of customers nationwide.
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