Verizon Communications, Inc. (simply known as Verizon, stylized as verizon), is abroadband telecommunications company and the largest U.S. wireless communications service provider as of September 2014,and a corporate component of the Dow Jones Industrial Average. The company is based at 1095 Avenue of the Americas in Midtown Manhattan, New York City, but is incorporated in Delaware.
Verizon Communications formed in June 2000 when the Federal Communications Commission approved a US$64.7 billion merger of telephone companies Bell Atlantic and GTE, nearly two years after the deal was proposed in July 1998. The approval came with 25 stipulations to preserve competition between local phone carriers, including investing in new markets and broadband technologies. The new venture was headed by co-CEOs Charles Lee, formerly the CEO of GTE, and Bell Atlantic CEO Ivan Seidenberg.
Upon its inception, Verizon became the largest local telephone company in the United States, operating 63 million telephone lines in 40 states.The company also inherited 25 million mobile phone customers. Additionally, Verizon offered internet services and long-distance calling in New York, before expanding long-distance operations to other states.
The name Verizon derives from the combination of the words veritas, Latin for truth, and horizon. The name was chosen from 8,500 candidates and the company spent $300 million on marketing the new brand.
Two months before the FCC gave final approval on the formation of Verizon Communications, Bell Atlantic formed Verizon Wireless in a joint venture with the Britishtelecommunications company Vodafone in April 2000
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