Verizon CEO Lowell McAdam plans to end his company’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.
“We 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 isn’t being used and fits well with the commission’s strategy to use airwaves that are being warehoused by firms,†McAdam said during the speech. “This takes spectrum that had no plans to be put into commercial service … We will make that commercial in the near-term.â€