Rich Tehrani pointed out an interesting NY Times article that profiles Ivan Seidenberg, the chief executive officer of Verizon. The piece does a good job of focusing on Mr. Seidenberg’s goals of turning Verizon into a forward-looking, fast-growing provider of next-generation enhanced services. Seidenberg shies away from the term Bell Company, as he believes that conjures up images of a slow-moving, heavily regulated behemoth.
Verizon is looking at advanced wireless services and a first-rate fiber network to provide their customers lightning-fast broadband connections and even television service. The Times article quotes Seidenberg as saying that Verizon, “is all about trying to invest in technology so we can create new growth.”
It should be pointed out that although rival AT&T is in the process of scooping up BellSouth, expanding their footprint and overtaking Verizon as the nation’s largest carrier, Seidenberg dismissed the scuttlebutt that Verizon would counter with a move to buy up either Qwest or Alltel. Rather, Verizon’s priority remains to buy up the 45% of Verizon Wireless currently owned by Vodafone. While that stake is reportedly worth up to $43 billion, Seidenberg is a willing buyer because then his company could claim the entirety of profits generated by the wireless carrier.
The NY Times article is available online (registration required).