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Verizon Communications: Leading Telecommunications Firm

September 7, 2015

Verizon Communication, Inc. came into being with the breakup of AT&T Corporation. By order of the Justice Department of the United States, AT&T was forced to relinquish control of the Bell System. The broken up entities were known as the seven Baby Bells. One of these “babies” was Bell Atlantic.

Bell Atlantic Corporation came into existence in 1983. Its area of coverage ranged from New Jersey to Virginia, each area had a separate operating company. As part of its rebranding efforts each of the operating companies took the name Bell Atlantic in the mid-1990s. Bell Atlantic then went into an expansion mode entering New York and the New England states in 1997 by merging with co-Baby Bell NYNEX. Aside from this Bell Atlantic moved their headquarters from Philadelphia into the old NYNEX headquarters and rebranded the entire company as Bell Atlantic.

The year 2000 was a momentous year as Bell Atlantic merged with GTE, which ran telecommunication operations throughout nearly the rest of the country that was not already in the footprint of Bell Atlantic. The company changed its name to “Verizon (for vertitas, Latin for truth and horizon). Verizon is today one of the largest telecommunications company in the US.

Verizon through its subsidiaries, provides communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide.

The firm’s Wireless segment provides wireless voice and data services; messaging services; service that enables its customers to access the Internet on smartphones, basic phones, notebook computers, and tablets; customers and business-focused multimedia offerings; location-based services; global data services; LTE Internet, a high-speed Internet service; and network access and value added services to support telemetry-type application and other services.

As of December 31, 2014, it had 108.2 million retail connections. Its Wireline segment provides high-speed Internet, FiOS Internet, and FiOS Video services; voice services, such as local exchange, regional and long distance calling, and voice messaging services and other related services.

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