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Verizon Communications was created on June 30, 2000 by Bell Atlantic Corp. and GTE Corp., in one of the largest mergers in U.S. business history. GTE and Bell Atlantic evolved and grew through decades of mergers, acquisitions and divestitures.
- The history of Verizon Communications
Verizon Communications Inc., based in New York City and...
- The history of Verizon Communications
Bell Atlantic changed its name to Verizon Communications in June 2000, when the FCC approved the US$64.7 billion merger with telephone company GTE, nearly two years after the deal was proposed in July 1998.
Verizon Communications Inc., based in New York City and incorporated in Delaware, was formed on June 30, 2000, with the merger of Bell Atlantic Corp. and GTE Corp. Verizon began trading on the New York Stock Exchange (NYSE) under the VZ symbol on Monday, July 3, 2000.
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May 23, 2024 · Verizon Communications was founded on June 30th, 2000, through the merger of Bell Atlantic and GTE. In January 2004, Verizon Communications became the first major US carrier to launch the...
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- A History of Bell Atlantic
- Company Perspectives
- Key Dates
- A History of GTE
- The Telecommunications Act of 1996
- Verizon Communications Forms
- The 2005 MCI Deal
- Principal Subsidiaries
- Principal Competitors
- Further Reading
In January 1982, the U.S. Department of Justice ended a 13-year antitrust suit against the world's largest corporation, the American Telephone and Telegraph Company (AT&T). Pursuant to a consent decree, AT&T maintained its manufacturing and research facilities, as well as its long-distance operations. On January 1, 1984, AT&T divested itself of 22 ...
To make strong progress in delivering on our promise to be the nation's best provider of quality local, data and long distance services. Bell Atlantic implemented another reorganization in 1989 by trimming its management staff less 1,700 employees through voluntary retirement and other incentive plans. During this time, Bell Atlantic invested $2.3 ...
2000:
1. Verizon Communications is formed by the merger of Bell Atlantic and GTE. The company purchases OnePoint Communications Corporation, and is renamed Verizon Avenue.
2001:
1. Verizon earns federal approval to offer long distance service in Connecticut and Pennsylvania: Verizon Wireless joins forces with Lucent Technologies. Verizon Avenue offers high-speed Internetaccess service nationwide.
2006:
1. Verizon completes its $8.5 billion purchase of MCI Inc.
In March 1990, the largest merger in the history of the telecommunications industry united two former U.S. competitors, GTE Corporation and Contel Corporation, under the GTE name. With a market value of $28 billion, the merged company became a telecommunications powerhouse. Designed to take advantage of the two companies' complementary businesses, ...
The year 1996 would be as pivotal as 1984 in the telecommunications industry. The Telecommunications Act was designed to meet the needs of communications for the new century. By this time communications had invaded all aspects of life: wireless, television, computer, the Internet, commerce, education, and research. Until then the communications ind...
Verizon, whose name is a combination of the Latin word veritasand the word "horizon," combined consumer and business services into one massive $58 billion deal. The wireless division got underway first; the Verizon moniker and logos appeared soon after. The re-branding and melding of the two companies was a formidable task; when the merger was firs...
Before Verizon made its play for MCI in 2005, the company spent time divesting certain assets in order to trim debt. Under the leadership of CEO Ivan Seidenberg, Verizon sold its stakes in several wireless operators including Cable and Wireless, STET Hellas, Eurotel Praha, Grupo Iusacell, and CTI Holdings. It also jettisoned its interest in Telecom...
Verizon California Inc.; Verizon Delaware Inc.; Verizon Florida Inc.; Verizon Hawaii Inc.; Verizon Maryland Inc.; Verizon New England Inc.; Verizon New Jersey Inc.; Verizon New York Inc.; Verizon North Inc.; Verizon Northwest Inc.; Verizon Pennsylvania Inc.; Verizon South Inc.; GTE Southwest Incorporated; Verizon Virginia Inc.; Verizon Washington, ...
AT&T Inc.; Sprint Nextel Corporation; Qwest Communications International Inc.; BellSouth Corporation.
"Bad Connection?," Business Week, August 28, 2000, p. 56. Barrett, Paul M., "Legal Beat: Justices Question Congress' Ban on Phone Concerns Offering Cable," Wall Street Journal, December 7, 1995, p. B10. Belson, Ken, "Huge Phone Deal Seeks to Thwart Smaller Rivals," New York Times, March 6, 2006. ―――――――, "MCI Shareholders Vote for Sale to Verizon,"...
In May 2009, the company 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.
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Verizon Communications was formed in June 2000 with the merger of Bell Atlantic and GTE. Verizon Wireless evolved from the merger of Vodafone Airtouch, Bell Atlantic, and GTE.
