'Verizon and Verizon Wireless are two separate companies, they only share a name."
by Just Jeffrey - Posted Tue July 28, 2009 @ 11:52 AM
I thought this was true... and I keep telling people it. However, this morning, I was looking at Verizon Communication's corporate profile. Here's what it says: "Verizon Communications Inc. provides communication services in the United States and internationally. It operates in two segments, Wireline and Domestic Wireless."
As I read it, Verizon Communication has two "segment," but not two distinct companies. Ivan G. Seidenberg is the CEO of both segments.
On Verizon Wireless's site, however, it says "Verizon Wireless is a joint venture of Verizon Communications (NYSE:VZ) and Vodafone (NYSE and LSE: VOD)." It also lists Lowell McAdam as the CEO.
That seems a little different, but it concurs on the point that Verizon Communication has a vested interest (beyond just name licensing) in the success of Verizon Wireless. But that they don't have day-to-day responsibility for the management.
Verizon Wireless, proper, is not a public company.