Verizon Wireless Will Pay $3 Billion for Additional Capacity
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Verizon Wireless said it would pay $3 billion in cash for the spectrum licenses owned by NextWave Telecom, a move that should expand coverage for new subscribers.
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LONDON - US cellular operators Sprint and Nextel have confirmed they are planning a $35 billion merger to create the third largest mobile carrier with almost 40m subscribers, behind Cingular, the market leader, and Verizon Wireless, a joint venture
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Cingular, the largest US mobile phone operator, is to launch a high-speed third generation (3G) network.
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Sprint and Nextel Communications agreed Wednesday to a merger that will create the third largest US wireless company. The stock-cash deal has an estimated value of more than $35 billion, depending on the value
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Verizon Wireless has agreed to pay a penalty and reimburse users who were disconnected for "excessive" use of a cellular broadband service that was marketed as allowing "unlimited" use, New York's state attorney general announced Tuesday.
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Sprint Corp. said Tuesday it reached multiyear agreement totaling $3 billion with Lucent Technologies Inc., Motorola Inc. and Nortel Networks Corp.
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Verizon Communications posted net income of $4.2 billion for the third quarter, up 19 percent from a year ago, driven largely by new wireless and fiber broadband customers, the company said Monday.The company added 1.6 million wireless customers and 229,000 new&#160;Fios fiber-based broadband&#160;customers, Verizon said. The company&#39;s Verizon Wireless subsidiary now has 63.7 million customers, and Verizon now has 1.3 million Fios broadband customers since launching the service in early 2005.Verizon reported total revenue of $23.8 billion, up 5.8 percent from the third quarter of 2006. Verizon&#39;s earnings per share, however, fell from $0.53 a year ago to $0.44 this quarter.Verizon&#39;s quarterly results show the company has &quot;hit its stride&quot; in offering wireless, broadband, and telecommunication services to large businesses, Chairman and CEO Ivan Seidenberg said in a statement.Among the highlights was an all-time high for Verizon wireless on average monthly revenue per customer, Verizon said. The average for retail voice service was $52.17 per customer, up 1.9 percent over a year ago.In addition to the customer gains for Fios broadband service, the company also added 202,000 Fios television customers, bringing the total number of Fios TV customers to 717,000. Verizon added 285,000 new broadband connections, including Fios and DSL (Digital Subscriber Line). Verizon now has 8 million broadband connections, up 21.3 percent over last year.Fios is available to 6.5 million U.S. residences.But total wireline revenue was down 0.8 percent from last year at $12.7 billion this quarter.Independent telecom analyst Jeff Kagan said Verizon&#39;s Fios push is beginning to pay off. Verizon is headed in the right direction, he said.&quot;It has taken a long time and cost a lot of money for Verizon to get to where they are today with their television and Internet,&quot; Kagan said. &quot;However, now that they are beginning to deliver on the Fios promise, the customers seem to be welcoming the offering.&quot;The now ready telecom-based television services are pumping new life into the telecom carriers, after cable TV companies beat them to the punch by offering voice service before telecoms received regulatory approval to offer TV service, Kagan said.&quot;All of a sudden that dynamic is shifting,&quot; he said. &quot;Suddenly telephone companies like Verizon and AT&amp;T are doing very well as cable television companies are struggling with their sagging stock price.&quot;
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NEW YORK -- Verizon Wireless added 2.3 million customers, most of them prized monthly subscribers, to put a shine on a fourth quarter when Verizon Communications Inc.'s profit was cut by restructuring costs.
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Verizon has announced an upgrade to its DSL service in 12 states, providing a maximum download speed of 3Mbps and up to 768Kbps of upload speed.
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MCI Inc., the long-distance provider, said yesterday that it planned to take a $3.5 billion charge in the third quarter to better reflect the loss in value of its phone and data networks.
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Verizon Wireless announced Friday that it plans to buy airwave licenses from NextWave Telecom Inc. for $3 billion in cash, giving the cellular phone giant the ability to carry more calls in some of the nation's largest cities. -The Washington Post
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Sprint, the third largest US mobile phone network operator, has announced details of its plan to spend $3bn over the next three years to upgrade its network infrastructure and roll out third-generation services.
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Leading wireless phone provider sets subscriber bar a little higher.
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Verizon Wireless will expand its fastest wireless data service to New York City and 13 other markets Monday, but Boston will probably have to wait until winter.
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Lucent, Motorola and Nortel won about $3 billion in contracts to help Sprint upgrade its wireless network to handle high-speed Internet traffic over mobile phones and computers.
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Verizon Wireless said on Tuesday it would not oppose a plan that would give Nextel Communications Inc. (NXTL.O: Quote, Profile, Research) valuable new wireless airwaves, sending Nextel&#39;s shares up more than 3 percent.
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Verizon Wireless plans next week to expand its high-speed mobile data service to 11 more markets, including New York and Los Angeles, as well as 19 more airports.