Verizon Snubs DISH Spectrum Idea, Big M&A
|Copyright 2014 by Virgo Publishing.|
|Posted on: 12/04/2012|
Verizon Communications does not plan to buy spectrum from DiSH Network or make any big acquisitions in the near future, Verizon's chief executive said.
Investors speculate that DISH Chairman Charlie Ergen could make a large profit by selling his company's wireless spectrum holdings to U.S. mobile operators like Verizon, according to an article by Reuters; however, Verizon CEO Lowell McAdam said his company is not interested in the purchase.
At a UBS Annual Global Media and Communications Conference, McAdam told the audience that Verizon did not have plans for big acquisitions after recently buying Terremark and Hughes Telematics.
He added that Verizon may do more deals in the software space, but these would be smaller purchases.
McAdam said that Verizon Wireless has seen strong phone sales so far during the holiday shopping season, and the company might be able to beat an analyst's expectation of 1.8 million net subscriber additions in the fourth quarter, according to the article.
In addition, McAdam said he will give an estimate in January of the financial impact from superstorm Sandy, and Verizon expects to replace damaged copper phone lines with fiber to provide customers with more advanced services, such as high-speed Internet and television.
Verizon also plans to launch an Internet video service from its partnership with Redbox by the end of the first quarter.