Verizon Communications Inc. is a major American telecommunications company based in New York City. Ranking as the world's second-largest telecommunications entity by revenue, Verizon operates the largest wireless carrier network in the United States. As of December 31, 2024, it boasts a substantial subscriber base of 146 million.
In 1983, Bell Atlantic was formed as one of the seven Regional Bell Operating Companies (RBOCs) following the breakup of the Bell System.
Bell Atlantic Corporation was created as one of the original "Baby Bell" Regional Bell Operating Companies (RBOCs) in 1984.
In 1996, CEO and Chairman Raymond W. Smith orchestrated Bell Atlantic's merger with fellow Baby Bell NYNEX. The corporate headquarters moved from Philadelphia to New York City.
By 1997, NYNEX was consolidated into the Bell Atlantic name.
In 1997, Bell Atlantic filed the three patents named in Verizon's lawsuit against Vonage. The patents relate to the conversion of IP addresses into phone numbers.
In 1997, Bell Atlantic merged with NYNEX, expanding its operations into New York and New England. The headquarters moved from Philadelphia to New York City after the merger.
In July 1998, the merger between Bell Atlantic and GTE, which lead to the creation of Verizon was proposed.
In April 2000, Bell Atlantic formed Verizon Wireless in a joint venture with Vodafone, which owned the mobile operator AirTouch. The deal was valued at approximately $70 billion.
In June 2000, Bell Atlantic officially changed its name to Verizon Communications after the FCC approved the merger with GTE.
In August 2000, approximately 85,000 Verizon workers went on an 18-day labor strike after their union contracts expired.
In 2000, Bell Atlantic acquired GTE and subsequently changed its name to Verizon, a portmanteau of 'veritas' and 'horizon'.
In 2000, the customer turnover at Verizon was 2.5%.
In 2001, Verizon Wireless launched the "Can you hear me now?" campaign, featuring actor Paul Marcarelli as "Test Man", which quickly became iconic. Customer turnover also dropped to 1.8% in 2001, down from 2.5% in 2000.
In August 2002, Verizon began offering local, long-distance, and mobile calling, as well as Internet service, in a bundle. It was initially only available to customers in New York and Massachusetts.
In 2002, during the early years of the "Can you hear me now?" campaign, Verizon experienced a 10% net customer growth, reaching 32.5 million customers.
In 2003, Verizon Wireless's initial public offering (IPO) was ultimately cancelled because the company no longer needed to raise revenue for Verizon Wireless due to increased profits.
In 2003, Verizon continued to experience growth with the "Can you hear me now?" campaign, gaining another 15% to reach 37.5 million customers.
In April 2004, Verizon Communications was added to the Dow Jones Industrial Average, replacing AT&T.
In December 2004, Verizon.net mail servers were configured to not accept connections from Europe by default in an attempt to reduce spam email.
On March 29, 2005, MCI accepted Verizon's increased bid of $7.6 billion.
In September 2005, Verizon launched Fios TV in Keller, Texas.
On October 31, 2005, the FCC approved Verizon's acquisition of MCI, valuing it at $8.5 billion.
In 2005, Verizon provided customer information to government agencies without court orders or warrants.
By January 2006, Verizon's Fios service offered over 350 channels in seven states, including 20 high-definition television channels and video on demand.
In April 2006, Verizon proposed a settlement in a class-action lawsuit resulting from the blocking of email connections from Europe.
In May 2006, USA Today reported that Verizon, along with AT&T and BellSouth, had given the National Security Agency landline phone records following the September 11 attacks.
In 2006, Verizon shed its telephone directory business as part of its focus on mobile, internet, and TV businesses.
Verizon's 2006 revenues rose by as much as 20% following the purchase of MCI.
In January 2007, Verizon secured exclusive marketing and promotional rights with the National Hockey League (NHL), establishing a partnership in sports marketing.
In January 2007, Verizon spun off lines in Maine, New Hampshire and Vermont which were then purchased by FairPoint Communications for $2.72 billion.
In March 2007, Verizon won a lawsuit against Vonage for patent infringement and was awarded US$58 million in damages and future royalties.
In May 2007, Verizon acquired CyberTrust, a privately held provider of global information security services.
In September 2007, Verizon Wireless reversed a controversial decision to deny NARAL Pro-Choice America a short code for messaging.
In 2007, Verizon opened its networks to third party apps and devices for the first time.
In 2007, Verizon stated that it fulfilled only "lawful demands" for information, but also acknowledged surrendering customer information to government agencies without court orders or warrants 720 times between 2005 and 2007.
In 2008, Verizon acquired Rural Cellular Corp. for $2.7 billion and announced it would purchase wireless carrier Alltel for $28.1 billion.
In 2008, Verizon participated in the FCC's 700 MHz auction of "open access" spectrum, bidding $9.4 billion and winning the bulk of national and local licenses.
In May 2009, Verizon spun off wirelines in Arizona, Idaho, Illinois, Indiana, Michigan, Nevada, North Carolina, Ohio, Oregon, South Carolina, Washington, West Virginia, and Wisconsin into a company that then merged with Frontier Communications in a deal valued at $8.6 billion.
In early November 2009, AT&T filed a lawsuit against Verizon over its "There's a map for that" campaign, claiming the coverage maps were misleading. The suit was dropped later that month in conjunction with Verizon dropping a similar suit against AT&T, resolving the dispute.
In 2009, Verizon sponsored Justin Allgaier in the NASCAR Nationwide Series, marking their involvement in motorsports sponsorship.
On February 4, 2010, Verizon Wireless customers began reporting difficulties accessing 4chan's image boards.
On February 7, 2010, Verizon Wireless confirmed that 4chan.org was "explicitly blocked" due to sweep attacks coming from an IP address associated with the 4chan network.
In August 2010, the chairmen of Verizon and Google agreed that network neutrality should be defined and limited.
In September 2010, the "Can you hear me now?" campaign, which started in 2001, concluded after a successful run of nearly a decade.
In October 2010, Verizon Wireless paid $77.8 million in refunds and FCC penalties for overcharging 15 million customers for data services.
In December 2010, Verizon introduced its 4G LTE network in 38 markets and airports in seven additional cities.
In 2010, Verizon continued to sponsor Justin Allgaier in the NASCAR Nationwide Series.
In late 2010, Verizon Communications joined with Vodafone Group in a joint partnership to replace Sprint as the official wireless telecommunications partner of the National Football League (NFL).
On August 1, 2011, Ivan Seidenberg retired as Verizon's CEO, and was succeeded by Lowell McAdam.
In December 2011, Verizon faced criticism from Public Campaign for its tax avoidance procedures, spending $52.34 million on lobbying while receiving $951 million in tax rebates between 2008 and 2010, despite a $32.5 billion profit. The organization also criticized Verizon for increasing executive pay by 167% in 2010 while laying off 21,308 workers between 2008 and 2010.
In 2011, CenturyLink acquired Qwest (formerly US West).
In 2011, Paul Marcarelli, the actor known as the "Test Man" from the "Can you hear me now?" campaign, parted ways with Verizon and became a spokesperson for Sprint.
In early 2011, Verizon acquired Terremark, an information technology services company, for $1.4 billion.
On February 24, 2012, Verizon reported in its Form 10-K filed with the SEC, that it paid over $11.1 billion in taxes from 2009 to 2011 and also stated that most of the drop in employment since 2008 was due to a voluntary retirement offer.
In June 2012, Verizon purchased Hughes Telematics for $612 million to expand its wireless business. Also in June 2012, Verizon's E-911 service failed in northern Virginia suburbs after a derecho storm.
In August 2012, the Department of Justice approved Verizon's purchase of Advanced Wireless Services (AWS) spectrum from a consortium of cable companies for $3.9 billion.
In 2012, the FCC ruled that Verizon must stop charging users an added fee for using 4G smartphones and tablets as Wi-Fi hotspots (known as "tethering"). As part of the 2012 settlement, Verizon made a voluntary payment of $1.25 million to the U.S. Treasury.
In 2012, the deal between Verizon and the National Hockey League (NHL) was extended for another three years and included new provisions for exclusive content through Verizon's GameCenter app.
In January 2013, the FCC released a report detailing the problems that led to Verizon's E-911 service failure in June 2012. Verizon reported that it had already addressed or was addressing a number of the issues related to the FCC report.
In June 2013, Verizon announced a four-year extension with the NFL in a deal reportedly valued at $1 billion, which gave Verizon the right to stream every NFL regular-season and playoff game.
In September 2013, Verizon purchased Vodafone's 45% stake in Verizon Wireless for $130 billion.
In October 2013, Verizon began expanding its LTE network utilizing the extra airwaves acquired from Advanced Wireless Services (AWS) spectrum.
On January 14, 2014, the DC Circuit Court of Appeals struck down the FCC's net neutrality rules after Verizon filed suit against them in January 2010.
On February 21, 2014, the $130 billion deal between Verizon and Vodafone closed, giving Verizon Communications sole ownership of Verizon Wireless. It became the third largest corporate deal ever signed.
In March 2014, Verizon became the title sponsor of the IndyCar Series through 2018, expanding its presence in motorsports.
June 30, 2014 was the deadline for Verizon to pass a fiberoptic network to all households in New York City, as required by its cable franchise agreement.
In October 2014, Verizon Wireless launched the technology news website SugarString, which attracted controversy due to alleged restrictions on writers.
In 2014, Verizon unsuccessfully sued the FCC for the power to offer different internet speeds based on content type, as part of a long-standing lobbying effort with Comcast since the early 2000s.
In May 2015, Verizon agreed to pay $90 million to settle federal and state investigations into allegations mobile customers were improperly billed for premium text messages.
In August 2015, Verizon launched Hum, a service and device offering vehicle diagnostic and monitoring tools for vehicles.
In 2015, American Tower Corp. acquired the exclusive right to lease, acquire or otherwise operate and manage many of Verizon's wireless towers for an upfront payment of $5.1 billion, which also included payment for the sale of approximately 165 towers.
In 2015, Verizon acquired AOL at $50 per share, for a deal valued around $4.4 billion.
In June 2016, the United States Court of Appeals for the District of Columbia Circuit upheld, by a 2–1 vote, the FCC's net neutrality rules and the FCC's determination that broadband access is a public utility rather than a luxury.
On August 1, 2016, Verizon announced its acquisition of Fleetmatics, a fleet telematics system company in Dublin, Ireland, for $2.4 billion.
On September 12, 2016, Verizon announced its acquisition of Sensity, a startup for LED sensors, in an effort to bolster its IoT portfolio.
In September 2016, Southern New Hampshire University acquired the naming rights for the SNHU Arena in Manchester, New Hampshire, which was originally known as the Verizon Wireless Arena, for a period of at least 10 years.
As of 2016, Verizon is one of three remaining companies with roots in the former Baby Bells.
In 2016, Verizon sold its wireline operations in Texas, Florida, and California to Frontier.
In 2016, Verizon was accused by Communications Workers of America of deliberately refusing to maintain its copper telephone service and migrating customers to VoiceLink instead.
In January 2017, reports surfaced that Verizon was in talks with Charter Communications to discuss a possible buyout.
In February 2017, Verizon closed its $1.8 billion acquisition of XO Communications' fiber-optic network business.
In April 2017, Verizon and Corning Inc. announced a deal where Verizon would purchase 12.4 million miles of optical fiber per year from Corning from 2018 through 2020.
Around the end of May 2017, Charter Communications reportedly rejected a buyout offer from Verizon, deeming it too low. Additionally, Charter's largest shareholder, Liberty Media, expressed that they were not ready to sell.
On June 13, 2017, Verizon completed its acquisition of Yahoo for $4.48 billion, marking a significant expansion of Verizon's media and technology holdings.
In July 2017, it was reported that Verizon's mobile network had been limiting streaming services such as Netflix and YouTube to a speed of 10 Mbit/s. Verizon stated they were testing a system to "optimize the performance of video applications".
In 2017, New York City sued Verizon for allegedly violating its cable franchise agreement, claiming the provider failed to pass a fiberoptic network to all households in the city by June 30, 2014.
In 2017, Verizon CEO Lowell McAdam confirmed the company's plans to launch a streaming TV service, with the integrated AOL-Yahoo operation organized under the Oath division.
On August 1, 2018, Hans Vestberg succeeded Lowell McAdam as CEO of Verizon. Vestberg's strategy focused on Verizon's 5G technology.
On December 10, 2018, Verizon announced that 10,400 managers agreed to leave the company as part of a voluntary separation program, cutting about 7% of its workforce. It also announced a $4.6 billion write-off on its media division.
In 2018, Verizon Connect was created, combining the individual Telematics, Fleetmatics, and Telogis units.
In 2018, Verizon's title sponsorship of the IndyCar Series ended.
In January 2019, Oath Inc., which was formed by combining AOL and Yahoo!, was rebranded as Verizon Media.
In March 2019, Verizon began offering anti-spam and robocalling features free of charge to all customers.
In March 2019, Verizon was cited by the Better Business Bureau for ads that falsely conveyed that the technology was currently available.
In April 2019, Verizon began rolling out its 5G mobile network; the network was active in 30 cities by the end of the year. Verizon uses millimeter-wave (mmWave) spectrum as part of its 5G network.
Between 2019 and 2023, Verizon issued five green bonds for a total of $5 billion, demonstrating a commitment to environmentally sustainable projects.
In early 2019, Verizon reorganized itself into three new divisions: Consumer, Business, and Media.
On January 14, 2020, Verizon announced the launch of its privacy-focused search engine OneSearch.
In January 2020, Verizon became a founding partner of USA Team Handball through the year 2020, with an option to extend the deal until 2024.
In May 2020, Verizon acquired videoconferencing service BlueJeans to expand its business portfolio offerings, particularly its unified communications offerings.
In May 2020, the Better Business Bureau criticized Verizon for claiming it was "building the most powerful 5G experience for America" and recommended clearer disclosures about the limited availability of its 5G network.
In September 2020, Verizon announced its plans to acquire TracFone Wireless (a business unit of Mexican telecom business, América Móvil) for $6.25 billion.
In 2020, CenturyLink later became Lumen Technologies.
In 2020, USA Team Handball CEO Barry Siff announced plans to create an American professional team handball league sponsored by Verizon, targeting a launch in 2023.
In 2020, Verizon launched its "Citizen Verizon" plan, outlining social and environmental goals, including a pledge to be carbon neutral by 2035 and digital-skills training for young people.
On November 22, 2021, the FCC approved Verizon's acquisition of TracFone Wireless.
In 2021, Verizon sold its media group, which included AOL and Yahoo, to Apollo Global Management for $5 billion. Verizon retained a 10% stake in the division, signifying a partial departure from the media business.
In 2021, Verizon sponsored a race in the NASCAR Cup Series season, known as the Verizon 200 at the Brickyard, held at Indianapolis Motor Speedway.
In early 2021, Verizon more than doubled its existing mid-band spectrum holdings by adding an average of 161 MHz of C-Band nationwide, purchased for $52.9 billion at an FCC C-Band auction.
In early January 2022, Verizon and AT&T announced 5G deployment but agreed to a two-week delay, and then Verizon announced the service would still launch, but with a temporary restriction around airports.
In December 2023, Verizon announced plans to open a new global center of excellence in Limerick, Ireland, in early 2024, aiming to create over 400 jobs in the next two years.
In 2023, Verizon issued a green bond, using the proceeds to transition to more environmentally friendly electrical grids.
In 2023, Verizon was ranked #31 in the Fortune 500 and #68 in the Fortune Global 500, indicating its prominent position among the world's largest companies.
In 2023, the planned launch of the American professional team handball league sponsored by Verizon was targeted, with 10 teams and collaboration with NBA or NHL owners in one-tenant arena situations.
In April 2024, Verizon was fined nearly $47 million by the FCC for illegally sharing access to customers' real-time location data, marking a significant regulatory penalty.
In May 2024 Verizon announced a partnership to access direct-to-cell capabilities with satellite manufacturer AST SpaceMobile, which will improve cellular and broadband access in remote areas of the United States.
On September 5, 2024, Verizon announced its intent to acquire Frontier in an all-stock deal for $38.50 per-share, valuing the company at $20 billion. Vestberg stated that the proposed acquisition was a "strategic fit" to expand its fiber network.
In September 2024, Verizon announced they would be a sponsor for the 2026 FIFA World Cup in the United States, Canada, and Mexico, providing cellular network access for fans.
In 2024, Verizon had the option to extend its partnership with USA Team Handball.
In 2024, Verizon reported earnings of US$17.95 billion, with an annual revenue of US$134.788 billion, representing a 0.6% increase over the previous fiscal cycle.
In 2024, it was reported that Verizon was affected by an attack from the Salt Typhoon advanced persistent threat (APT) linked to the Chinese government.
This entry marks context related to the year 2024.
As of December 31, 2024, Verizon's mobile network is the largest wireless carrier in the United States, with 146 million subscribers.
In January 2025, Verizon's shares traded at over $45 per share, and its market capitalization was valued at over US$163.96 billion.
In 2026, Verizon will serve as a sponsor for the FIFA World Cup in the United States, Canada, and Mexico, providing cellular network access for fans at stadiums, fan fests, and metropolitan areas of the host cities.
The "Citizen Verizon" plan includes a pledge for Verizon to be completely carbon neutral by 2035.
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