Verizon CEO Lowell McAdam plans to end his companyâ€™s wireless LTE partnership with pay-TV operator DirecTV and will stop its build-out of FiOS television and Internet services during the next two years, the executive confirmed Dec. 8 during a speech at the UBS Global Media and Communications Conference.
McAdam said Verizon Wireless would seek new partnerships with cable giants to cross-market phone, video, Internet and cellular services.
â€œWe have begun discussions with officials at the U.S. Federal Communications Commission (FCC) about its $3.6 billion deal to buy spectrum from Comcast, Bright House and Time Warner Cable. The spectrum they will buy isnâ€™t being used and fits well with the commissionâ€™s strategy to use airwaves that are being warehoused by firms,â€ McAdam said during the speech. â€œThis takes spectrum that had no plans to be put into commercial service â€¦ We will make that commercial in the near-term.â€