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Last Updated:
2024-09-22 08:20:01

Verizon Communications

American multinational telecommunications conglomerate
American multinational telecommunications conglomerate

Verizon Communications, formed in 1984 as Bell Atlantic, is the world's second-largest telecommunications company. It has a significant presence in the United States, offering wireless services to millions of subscribers and selling mobile and PC accessories.

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1885
Verizon Communications Inc. Founded

Verizon Communications Inc. was founded in 1885 as a result of a merger between Bell Atlantic and GTE Corp. It is now one of the leading telecommunications companies in the world.

1983
Verizon Communications Inc. Founded

Verizon Communications Inc. was founded in 1983.

1984-01-01
AT&T divested itself of 22 local operating companies

On January 1, 1984, AT&T divested itself of 22 local operating companies, which were divided among seven regional holding companies (RHCs). Bell Atlantic Corporation was created as one of the original Regional Bell Operating Companies (RBOCs) in 1984, during the breakup of the Bell System.

1986
NJB began the first service to send and receive data via the home personal computer

In 1986, NJB began the first service to send and receive data via the home personal computer.

1990-03
Merger of GTE Corporation and Contel Corporation

In March 1990, GTE Corporation and Contel Corporation merged, forming a telecommunications powerhouse with a market value of $28 billion. The merger aimed to strengthen GTE's assets in telephone service and telecommunications products.

1996
Verizon orchestrated Bell Atlantic's merger with NYNEX

In 1996, CEO and Chairman Raymond W. Smith orchestrated Bell Atlantic's merger with NYNEX, moving its corporate headquarters from Philadelphia to New York City.

2000-04-03
Bell Atlantic announced its new moniker as Verizon

On April 3, 2000, Bell Atlantic announced that its new moniker resulting from their prominent union would be Verizon, with the 'V' becoming the peace sign flashed by numerous people in the Verizon Wireless ads of early 2000.

2000-06-30
Merger of Bell Atlantic and GTE Corp.

On June 30, 2000, the merger between Bell Atlantic and GTE Corp. was completed, forming Verizon Communications Inc. This merger was one of the largest corporate mergers in the United States.

2001
Verizon's Total Revenues in 2001

In 2001, Verizon's total revenues were $67.2 billion, with different segments contributing to the overall revenue. The company experienced a 3.8 percent increase in revenues from the previous year.

2002
Verizon's Analysts' Opinions in 2002

In 2002, analysts reported positive long-term financial outlook for Verizon, highlighting the company's market leadership and strong balance sheet. Despite challenges in the telecommunications industry, analysts believed in Verizon's resilience and steady revenue growth.

2004-04
Verizon Communications added to Dow Jones Industrial Average

Verizon Communications was added to the Dow Jones Industrial Average in April 2004, replacing AT&T. AT&T had been a part of the index since the Great Depression.

2004-12
Verizon.net mail servers block connections from Europe

In December 2004, Verizon.net mail servers were configured to block connections from Europe by default to reduce spam email originating from the region. This move led to customer criticism and a class-action lawsuit.

2005-03-29
Verizon acquires MCI for $7.6 billion

Verizon began negotiations in 2005 to purchase long-distance carrier MCI, eventually acquiring it for $7.6 billion in March 2005. This acquisition expanded Verizon's presence into global markets and led to the establishment of Verizon Business.

2006-03
Verizon wins lawsuit against Vonage for patent infringement

In March 2007, Verizon won a lawsuit against Vonage for patent infringement related to IP address conversion technology. Vonage was ordered to pay $120 million in damages and future royalties.

2007-01
Verizon secures exclusive marketing rights with NHL

In January 2007, Verizon secured exclusive marketing and promotional rights with the National Hockey League. The partnership was extended in 2012, with new provisions for exclusive content through Verizon's GameCenter app.

2007-05
Verizon acquires CyberTrust

In May 2007, Verizon acquired CyberTrust, a provider of global information security services.

2007-09
Verizon Wireless reverses decision on NARAL Pro-Choice America short code

In September 2007, Verizon Wireless reversed a decision to deny NARAL Pro-Choice America a short code for texting consumers. Initially, the company had refused access citing the right to block controversial messages.

2008
Verizon acquires Rural Cellular Corp. and announces purchase of Alltel

In 2008, Verizon acquired Rural Cellular Corp. and announced the purchase of wireless carrier Alltel for $28.1 billion. These acquisitions allowed Verizon Wireless to surpass AT&T in number of customers and expand into rural markets.

2009
Verizon sponsors Justin Allgaier in NASCAR Nationwide Series

In 2009, Verizon sponsored Justin Allgaier in the NASCAR Nationwide Series. They later opted out of a NASCAR team sponsorship with Penske Racing to focus on the IndyCar Series.

2010-02-07
Verizon blocks 4chan.org due to security concerns

On February 7, 2010, Verizon confirmed the explicit block of 4chan.org after detecting security threats. The block was lifted several days later.

2011-08-01
Ivan Seidenberg retires as Verizon's CEO

Ivan Seidenberg retired as Verizon's CEO on August 1, 2011, and was succeeded by Lowell McAdam.

2012-06
Verizon purchases Hughes Telematics

Verizon purchased Hughes Telematics, a producer of wireless features for automobiles, for $612 million in June 2012 as part of its strategy to expand into new growth areas in its wireless business.

2012-08
Verizon acquires AWS spectrum from cable companies

In August 2012, the Department of Justice approved Verizon's purchase of Advanced Wireless Services (AWS) spectrum from a consortium of cable companies, including Comcast, Time Warner Cable and Bright House Networks, for $3.9 billion.

2013-06
Verizon extends NFL partnership for streaming rights

In June 2013, Verizon announced a four-year extension with the NFL, valued at $1 billion. This agreement granted Verizon the rights to stream every NFL regular-season and playoff game.

2013-09
Verizon purchases Vodafone's stake in Verizon

Verizon purchased Vodafone's 45% stake in Verizon in September 2013 for $130 billion, becoming the third largest corporate deal ever signed.

2014-01-14
DC Circuit Court strikes down FCC's net neutrality rules

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.

2014-02-21
Verizon Communications gained sole ownership of Verizon Wireless

On February 21, 2014, Verizon Communications gained sole ownership of Verizon Wireless, becoming the third largest corporate deal ever signed.

2015-05
Verizon settles investigations into improper billing

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.

2016-08-01
Verizon acquires Fleetmatics

On August 1, 2016, Verizon announced its acquisition of Fleetmatics, a fleet telematics system company in Dublin, Ireland, for $2.4 billion.

2016-09-12
Verizon acquires Sensity

On September 12, 2016, Verizon announced its acquisition of Sensity, a startup for LED sensors, in an effort to bolster its IoT portfolio.

2017-01
Verizon in talks with Charter Communications

Verizon was reported to be in talks with Charter Communications in January 2017 to discuss a possible buyout.

2017-02
Verizon acquires XO Communications' fiber-optic network business

Verizon added to its fiber-optic network and 5G capabilities in February 2017 when it closed its $1.8 billion acquisition of XO Communications' fiber-optic network business.

2018-08-01
Hans Vestberg becomes CEO of Verizon

Hans Vestberg succeeded Lowell McAdam as CEO on August 1, 2018, focusing on Verizon's 5G technology.

2019-03
Verizon offers anti-spam and robocalling features

Verizon began offering anti-spam and robocalling features free of charge to all customers beginning in March 2019.

2019-04
Verizon rolls out 5G mobile network

Verizon began rolling out its 5G mobile network in April 2019; the network was active in 30 cities by the end of the year.

2020-01-14
Verizon launched its privacy-focused search engine OneSearch

On January 14, 2020, Verizon announced the launch of its privacy-focused search engine OneSearch.

2021-05
Verizon sold its media group, including AOL and Yahoo, to Apollo Global Management

In May 2021, Verizon announced that its media group, including AOL and Yahoo, would be sold to Apollo Global Management for $5 billion, with Verizon retaining a 10% stake in the division.

2022
Verizon reported fiscal year 2022 earnings

For the fiscal year 2022, Verizon reported earnings of US$21.75 billion, with an annual revenue of US$136.835 billion, showing a 2.4% increase over the previous fiscal cycle.

2023-01
Verizon surpasses 3 gigawatts of renewable energy

Verizon achieves a significant milestone by surpassing 3 gigawatts of renewable energy, positioning itself to meet its ambitious goal of sourcing or generating renewable energy equivalent to 50 percent of its total annual electricity consumption by 2025.

2023-02
Verizon achieves upload speeds surpassing 1 GBPS

Verizon's engineers push the boundaries of 5G Ultra Wideband technology, achieving upload speeds exceeding 1.26 Gbps, showcasing their commitment to innovation.

2023-03
Verizon's 5G Ultra Wideband reaches 200 million

Verizon expands its 5G Ultra Wideband network to cover rural and suburban areas, making the ultra-fast and reliable service available to a significant portion of the American population.

2023-05
Verizon issues its fifth $1 billion green bond

Verizon settled its fifth green bond offering of $1 billion, with the net proceeds expected to be allocated entirely toward renewable energy investments to accelerate the transition to greener electrical grids across the U.S.

2023-09
The Met and Verizon launch AR app experience

MOMA and Verizon launched Replica, an app that allows visitors at The Met to scan artwork and bring elements of the works digitally into the global immersive platform Roblox through augmented reality.

2023-10
Winners of 2nd Verizon Climate Resilience Prize

Verizon awarded a total of $500,000 to four innovative climate tech solutions providers focused on reducing climate change impacts on key communities across the U.S.

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Verizon Communications
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