Looks to me based on the threads here, the press releases available, and the timing that VZ has either found a buyer for the dreaded wireline business or they are trying to put some lipstick on the pig to at least get some interest. Getting the 'management' off of their payroll and shipped to HCL, not doing anything other than bare minimum dispatching for break/fix, disconnecting all customers' TDM and POTS:
https://www.verizon.com/business/support/vec/onlinehelp/guidesandtutorials/products/discontinuation/discontinuation-announcements.html
They can get this thing really cut down by 2026 before the next CWA & IBEW contracts that were extended are up for renegotiation. Continue to unload salary to reduce cost, sell off all the other cr-p(Bluejeans etc) so a buyer doesn't have to worry about that, etc. Looks like this is happening to me.
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More like Apollo is priming Brightspeed to be sold to Verizon.
For example, VZ currently maintains an 10% equity stake in Apollo's Yahoo venture, which has now turned a profit. And a potential Apollo Yahoo IPO.
Forewarned, Brightspeed, is not Frontier, as Frontier's bankruptcy and then reemerging = restructured, without its corporate debt.
Verizon's wireline assets: Whatever wireline assets Verizon decides to sell though VZ needs to be savvy enough to maintain an equity stake in the Brightspeed shares, 25%+, as an VZ investment.
Therefore, when/if Apollo, private equity, does an IPO VZ will get a good return-on-investment.
All the VZ executives who actually knew how to run the company are now at or soon to be at Brightspeed. The writing is on the wall. Apollo will buy it as they did the CentryLink (Lumen) wireline assets and add it to Brightspeed. The former VZ executives know VZ wireline and can roll the 2 companies into one. There is enough federal grant money to make it worth it.
Wireline will not be sold, no company is d-mb enough to throw money away. All the existing phone companies that where considered a baby bell will turn down any customer end nodes of service and be done with it. They will then start selling off any copper they can pull without risking disruption of other services. Savings will be the profit by means of power consumption and head count reductions. The days of selling off TDM have passed.
A studio apt cost 3000 a month to rent. We are all underpaid in ny
We bring home 1000 a week after taxs
No money to eat
@1bot+1on7om5U That is untrue because I actually was asked to do the analysis when NY and MA claimed that they needed to increase prices to be profitable. New Jersey, Texas, and even California absolutely smoked New York which was overlaid with too many high-paid people in their senior ranks vs the other wireline in other states.
@1gud+1on7om5U make that 4 executives, the CLO is also fVz executive. We now know why they left so quickly
Wow, was not expecting to see Tom Maguire and Ashok Kumar as executives at Brightline, they are also both former Vz. So 3 former Vz executives.
California and Texas were not profitable. As a matter of fact their facilities were a nightmare. They threw Florida in because it was 100% fiber and it was the only way to sweeten the pot. When Frontier took over, they came in with cooky attitudes thinking they needed zero help with migration and knocked out service all over Florida, Texas, and California. They wound up losing over 600K customers within the first few months which included my service. It was super disturbing what a mess they made. Wireline is not profitable the way it should be. People are pulling the plug on the fios video, they just want the internet. The service is just too expensive.
Who is bob mudge?
They will announce they are going to stop the lump sum by a specific date to get union people to leave. Then RIF more managers to reduce headcount further. Then comes the sale.
I eat paste. ( Anyone who thinks that any company wants to buy vz wireline)
Verizon. Just Another wireless company that rents fiber and cell sites.
What makes them special?
@eaq+1on7om5U Actually they sold off all of the cash flow positive and profitable markets and kept the ones from NYNX and BEL that no one was interested in because of politics and costs.
The company sold off all of the winning properties and kept all of the troubled ones that buyers were not interested in. Which was another big mistake.
It'll be sold. Just a matter of when and to whom. I'm betting on Brightspeed. Which would actually be good because we'd have competent leaders running thing. Very like the European socialist and his cronies who are destroying this company.
this is all rumors ,this site is a rumor mill,its very funny
VZ also pays a ton. The vast majority of the towers we are on are not in our footprint. And we don't even have fiber to all the towers in footprint. Remember we sold the tower assets years ago. Now companies like Crown Castle and American Tower owns the towers and has their own fiber going to them.
@vkm+1on7om5U, that’s my point exactly, T-Mobile has to pay a ton of cash leasing network from third parties.
Bob Mudge is knows how to handle the union. He's not worried about that.
VZB would not be sold. They have their own fiber. Wireline consumer would be sold. Yes we have separate fiber networks. There is a lot of fiber outside the Mid-Atlantic/Northeast footprint. Also fiber inside the footprint that is exclusive to VZB.
Right now they are trying to lower costs. The biggest part holding the sale back is the union pension plans and Healthcare costs.
And what is considered Wireline? Is VZB considered Wireline? If so how in heavens are we going to operate the fiber network.....stop the BS
Hahahaha!!!! Not happening. They keep expanding FiOS.
Or they could cut the dividend. But I agree they will sell landline to help with the debt.
Verizon is selling of landline business to pay off some debt. The raise in interest rates is ki-ling VZ. They have no choice. Sell will be announced in the next 12 months.
Florida, Texas and California were the most profitable areas at the time of the sale.
@zpo. They sold off all the rural, unprofitable areas. They kept, Boston, NYC, Philly, jersey, Va……you know, the good stuff.
Nobody forgot anything. Are you aware of the CRAN wireless built. Maybe you need to brush up on the latest technology being used.
I’m a fellow employee and t-mobile does it without owning the co and the poles. And the fiber. C mom man.
Sometimes our fellow employees forget how wireless calls, text, etc. are routed across the shared network.
Vz just paid osmose to inspect all poles. Paid to get facility maps updated. Repairing all real estate. Budget freeze. Halted FIOS build. Didn’t take government hand out with restrictions. sale is believable to me.
Sales of wireline have been going on for years. First it was Vermont, New Hampshire and Maine to FairPoint (now Consolidated). Then wireline assets in 14 states to Frontier. Then Florida, Texas and California to Frontier.
Why would getting rid of the last bit of wireline they have make a difference? The vast majority was already sold.
Why would they want to sell wireline? Is it because things are going so well with wireless????
NY is a hard sell - a lot of politics and baggage.
PA and NJ seem a good fit for Brightspeed
When you say wireline its probably important to included which assets you are discussing for example. In 2017 the company sold wireline VCG assets in Texas but retained VZB wireline.
Sale not happening. The physical plant and RO ways are the core of the business. We have heard of imminent sale for almost 30 years now.
All I have witnessed is the further enrichment of myself and coworkers as they have finished careers ranging from 25 to 45 years in length. Most have gone on to nice retirements at a time of their choosing. Anyone left is good to go by 2026. There is nothing to concern yourself with. There is a better life after VZ just waiting for you.
Brightspeed is certainly a potential suitor?