Latest in Lowell McAdam

UPDATED with additional context Verizon Communications’s Lowell McAdam, the telco giant’s CEO since 2011 and chairman since 2012, is retiring, the company said today. He will be replaced by Hans E. Vestberg, Verizon’s EVP and President of Global Networks and Chief Technology Officer, beginning August 1. McAdam, 64…

UPDATED with remarks about its interest in Fox and broader media strategy from today’s earnings call. Telecom giant Verizon said its first-quarter net income rose 32% to $4.55 billion, or $1.11 a share, in the first quarter thanks in part to benefits from federal tax reform. The results compared with $3.45 billion, or…

Verizon CEO Lowell McAdam insists the company is not angling for a major media deal. "There is nothing going on right now with us considering a large media play," he said during this morning's conference call with Wall Street analysts to discuss the company’s fourth-quarter results. "In fact, if you look at the…

Top wireless carrier Verizon, which is seen as a likely acquirer of more media assets in 2018, reported earnings that barely missed Wall Street estimates for the fourth quarter. The company said a tax-overhaul bill signed into law by President Donald Trump in late December will result in a one-time reduction in net…

Marni Walden, Verizon executive VP and president of global media, said today she will shift into an advisory role as of December 31 and leave the company altogether in February. While not necessarily someone most Hollywood veterans know well, Walden’s purview was broad and as Verizon has matured and added media…

Verizon isn’t interested in buying a cable operator, having determined that their fiber-optic line infrastructure “isn’t there,” CEO Lowell McAdam told an investor gathering this morning. “We’ve moved on,” he said at the Goldman Sachs Annual Communacopia Conference. “For the future that we see, you're going to have to…

It’s time to cool all of the deal speculation regarding Verizon, the telco’s CEO Lowell McAdam told analysts today in a briefing about the company’s wireless plans. He appeared miffed by the market chatter last month that followed his interview with Bloomberg where he said he’d be open to talking to Comcast, Disney or…

Verizon plans to offer a skinny bundle video service via 5G wireless transmissions in early 2017 to test the speedy technology in some “relatively small towns,” CEO Lowell McAdam said today at the UBS Global Media and Telecommunications Conference. “Our plan is to offer 1Gb broadband service and an OTT [streaming]…

Verizon is “a small player today” in internet media compared to Google and Facebook — but with its $4.8 billion deal to buy Yahoo should “take more than our fair share” of the market’s growth, CEO Lowell McAdam told analysts today in a scheduled call to discuss Q2 earnings. Yahoo will help Verizon to become a…

Phone giant Verizon will blend Yahoo, one of the Internet’s oldest and best-known properties, with AOL — which it bought last year — as part of a $4.83 billion deal the companies announced this morning. They expect the agreement to close by early 2017, following approvals by shareholders and antitrust officials. It…

CEO Lowell McAdam offered a few more details this morning about Verizon’s plan to offer a TV-like service over the Internet, a market that Sony and Dish Network also hope to lead. The telco expects by mid-2015 it will offer mobile users a “bundle with major broadcast providers” plus a collection of  “custom channels,&#8221…

Verizon’s already talking to content creators about ways to enable subscribers to access video content nationally. “You could do a wireless over-the-top” — the jargon term for an Internet pay TV service — CEO Lowell McAdam told attendees at the Morgan Stanley Technology, Media & Telecom Conference. “We’re going to…