History
Verizon Wireless traces its roots to Bell Atlantic Mobile, NYNEX Mobile Communications, AirTouch Communications, PrimeCo Communications, and GTE Mobilnet. Bell Atlantic Mobile and NYNEX Mobile Communications merged in 1995 to create Bell Atlantic – NYNEX Mobile, and their wireless subsidiary was renamed Bell Atlantic Mobile. Bell Atlantic Mobile and NYNEX Mobile Communications were created from Advanced Mobile Phone Service, Inc., which was a subsidiary of AT&T created in 1978 to provide cellular service nationwide. AMPS, Inc. was divided among the RBOCs as part of the Bell System Divestiture.
Meanwhile, in June 1999, AirTouch Communications of San Francisco merged with UK-based Vodafone Group Plc, forming Vodafone AirTouch Plc. In September 1999, Vodafone AirTouch announced a $90-billion joint venture with Bell Atlantic Corp. to be called Verizon Wireless, and which would comprise the two companies' U.S. wireless assets: Bell Atlantic Mobile and AirTouch Paging. This wireless joint venture received regulatory approval in six months, and began operations as Verizon Wireless on April 4, 2000. The name "Verizon" itself, a portmanteau, was derived by combining the word "veritas," a Latin term that means "truth," and the word "horizon." Together, they are supposed to conjure images of reliability, certainty, leadership, and limitless possibilities.
On June 30, 2000, the addition of GTE Wireless' assets, in connection with the merger of Bell Atlantic and GTE to form Verizon Communications, made Verizon Wireless the nation's largest wireless communications provider. Verizon held that position until Cingular's acquisition of AT&T Wireless in 2004, and again after their acquisition of Alltel in 2009. For the joint venture, Verizon Communications owns 55%, which is held through its subsidiaries Bell Atlantic Mobile Systems LLC and GTE Wireless, Inc., which hold 24.2% and 30.8% respectively, and UK-based Vodafone Group (formerly Vodafone AirTouch) owns 45% through its subsidiaries PCS Nucleus, L.P. and JV PartnerCo, LLC which owns 6.2% and 38.8% respectively.
Read more about this topic: Verizon Wireless
Famous quotes containing the word history:
“A man acquainted with history may, in some respect, be said to have lived from the beginning of the world, and to have been making continual additions to his stock of knowledge in every century.”
—David Hume (1711–1776)
“You treat world history as a mathematician does mathematics, in which nothing but laws and formulas exist, no reality, no good and evil, no time, no yesterday, no tomorrow, nothing but an eternal, shallow, mathematical present.”
—Hermann Hesse (1877–1962)
“The history of all hitherto existing society is the history of class struggles.”
—Karl Marx (1818–1883)