Verizon Says It Has Moved On From Cable Merger Plans Verizon CEO Lowell McAdam says the company has moved on from its plan to acquire or merge with a major cable company. Verizon spent months denying rumors that it was interested in acquiring Comcast or Charter. It's an approach that confused many, who wondered why Verizon wanted to saddle itself with cable broadband customers after spending the last decade offloading millions of unwanted residential broadband subscribers to focus on wireless and pitching advertisements to Millennials.

But then reports emerged that Charter had turned down a $100 billion acquisition offer from Verizon , who was primarily interested in using Charter's fiber backbone to help fuel its fifth generation (5G) wireless ambitions. But speaking this week at an investor conference, Verizon CEO Lowell McAdam stated that the company was moving on from its failed flirtations with major cable company acquisitions, and would seek out the fiber it needs for 5G services through smaller, regional deals -- much like the one it recently struck to acquire Wide Open West's fiber assets in Chicago. “We’ve moved on,” the CEO said this week at the Goldman Sachs Annual Communacopia Conference. “For the future that we see, you’re going to have to have deep fiber into the network…I’d rather just put in the fiber.” Whether that results in the company wiring more areas for FiOS as it works to drive fiber backhaul to more towers isn't clear, though early indications out of Boston -- where the company announced a major $300 million wireless-centric expansion -- indicates that FiOS will remain a distant afterthought. At the forefront of Verizon executives minds is competing with Google in advertising, delivered via video services of every variety. “We’re building the network that doesn’t care,” the CEO says. “I don’t care whether the customer goes over the top or buys a linear package. We’ll sell either one to them….We want to have the network that people can provide whatever service they want on it.” “We’re building the network that doesn’t care,” the CEO says. “I don’t care whether the customer goes over the top or buys a linear package. We’ll sell either one to them….We want to have the network that people can provide whatever service they want on it.”







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Most recommended from 11 comments



SuperSpy

join:2012-06-15

Coldwater, MI 23 recommendations SuperSpy Member "Moved On" AKA Wall Street told them to stop spending money on stupid bullshit and invest in their network, after years of telling them to spend money on stupid bullshit and not invest in their network.

pclover

join:2008-08-02

Santa Cruz, CA 8 recommendations pclover Member We can't afford it! Verizon is still swimming in debt from their Vodafone deal and recently purchasing Yahoo. I'm not really sure how could they could afford to purchase a cable company. neufuse

join:2006-12-06

James Creek, PA 6 recommendations neufuse Member $100 billion? $100 billion dollars? sheesh you could build your own backbone and do it the way you want it for that and still have some cash left over pittpete1

join:2009-06-12 6 recommendations pittpete1 Member Lowell reminds me of Ralph Kramden

I know, let's aquire Equifax..... What will be his next crazy, hair-brained scheme.I know, let's aquire Equifax.....