Verizon Communications Inc. reports developments across its telecommunications business, including wireless service performance, broadband connectivity, enterprise services and network technology. Company updates commonly address postpaid phone activity, customer economics, cash flow, guidance, investor conference appearances and capital markets actions involving outstanding Verizon and subsidiary notes.
News also covers Verizon's network resilience and public-safety capabilities, including Digital Twin damage modeling, satellite-enabled disaster connectivity, private 5G, fixed wireless access and broadcast solutions. Partnership and sponsorship updates describe how Verizon uses 5G, fiber and venue network design to support connected experiences for customers, businesses, broadcasters and large events.
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On September 14, 2020, Verizon launched Verizon Latino, an Apple Music room featuring Latin music for Hispanic Heritage Month. Customers can access Apple Music and enjoy exclusive content. Additionally, Verizon is collaborating with Univision for a live concert featuring Bad Bunny on September 20. The company emphasizes diversity with initiatives supporting the Latinx community, including a month-long program led by its employee group, SOMOS Verizon, and partnerships with media organizations for content highlighting Hispanic achievements.
Verizon has partnered with The Paley Center to gain exclusive streaming rights for its 2020/2021 events and programs. This collaboration establishes Verizon as the official sponsor for various festivals and initiatives, including a tribute to Hispanic achievements in television. Verizon Media, reaching nearly 900 million unique viewers monthly, will livestream programs such as PaleyFest and educational workshops aimed at promoting diversity and inclusion. Verizon's commitment to enhancing conversations around industry issues is emphasized through this strategic engagement.
Verizon Acquires Tracfone
NEW YORK, Sept. 14, 2020 - Verizon (NYSE: VZ) announced its acquisition of Tracfone for $6.25 billion, enhancing its value segment offerings within the wireless market. Serving approximately 21 million subscribers across 90,000 retail locations, Tracfone has been a longtime partner of Verizon. The acquisition aims to improve customer experience and expand market opportunities, with a focus on 4G LTE and 5G technology. Verizon expects the transaction to be accretive in its first year post-closing and anticipates it will not significantly impact capital expenditures.
Verizon Chairman and CEO Hans Vestberg is set to speak at the Goldman Sachs 29th Annual Communacopia Conference on September 15, 2020, at 8:00 a.m. ET. The event will be available via webcast, with details provided on Verizon's Investor Relations website. Founded on June 30, 2000, Verizon has emerged as a leading global provider of technology and communication services, celebrating 20 years of service. In 2019, the company generated revenues of $131.9 billion, offering data, video, and voice services on its award-winning networks.
Verizon is offering unlimited calling, texting, and data from September 10 to 16 for consumer and small business customers affected by wildfires in parts of Oregon. This initiative targets specific zip codes in Clackamas, Douglas, Jackson, Lane, Lincoln, Linn, Marion, and Washington Counties. The company’s Response Team is ready 24/7 to assist first responders with portable cell sites and emergency equipment. Customers do not need to take any action to receive these benefits, and store hours may vary due to evacuations.
Verizon has expanded its national Distance Learning Program to provide affordable Internet access for up to 1.7 million students in Oregon and Washington. This initiative, part of a broader program reaching over 38 million students across 40 states, allows public school districts to purchase discounted 4G LTE Internet services and security solutions. Underlining the importance of connectivity during the Covid-19 pandemic, Verizon aims to bridge the digital divide and enhance educational access. The partnership with the Oregon Department of Education is a critical step in ensuring students remain connected to their education.
Verizon and Inseego have launched the Inseego MiFi M2100 5G UW mobile hotspot, designed to provide superior connectivity across Verizon's 5G Ultra Wideband and 4G LTE networks. It supports up to 30 devices with Wi-Fi 6 technology for enhanced data throughput. Retailing at $399.99 or $16.66/month for 24 months, the device features a 3500mAh battery for all-day use and enterprise-grade security. The MiFi M2100 caters to various sectors including telemedicine, gaming, and remote work, promising faster speeds and reliable connections.
Ronan Dunne, executive vice president for Verizon, will speak at the Bank of America Merrill Lynch 2020 Media, Communications & Entertainment Conference on September 9, 2020, at 12:35 p.m. ET. The event will be webcast, and details can be found on Verizon's Investor Relations website. Verizon, formed on June 30, 2000, generated $131.9 billion in revenue in 2019. As a leading provider of technology and communications services, Verizon continues to meet customer demands for mobility and reliable connectivity.
Verizon has unveiled a promotional offer for new customers signing up for select wireless or Fios Internet plans. Eligible customers may receive a free digital copy of Marvel’s Avengers, exclusive Hero Outfit packs, and a year of Disney+. This initiative aims to enhance the gaming experience on Verizon's 5G network. The offer is available from September 4 until October 21 for wireless plans and until October 28 for Fios customers. Verizon's efforts highlight its commitment to providing unique gaming experiences and tapping into the gaming market.