XO Communications, which focuses primarily on fiber networks, will help bolster Verizon's plans for 5G connectively. The wild rumors turned out to be mostly true, although with a twist. XO Holdings, Inc. will retain its LMDS licenses that Verizon currently leases and may acquire in the future. "As part of the company's continual plans to build and deliver next-generation networks, Verizon Communications Inc. (NYSE, NASDAQ: VZ) announced today it has completed the $1.8 billion purchase of XO Communications' fiber-optic network business. Regulators are delaying their review of Verizon Communication's $1.8 billion deal to buy XO Communications' fiber optic network. We're excited to announce the Verizon acquisition of XO Communications—allowing us to expand the Verizon fiber-optic network and deploy new 5G technologies. $1.8bn. Get the latest tech acquisitions in your inbox! 3 . The proposed acquisition is part of a larger transaction which consists of Verizon's proposed acquisition of XO; Verizon Wireless's leasing arrangements with Nextlink Wireless, LLC ("Nextlink"), a subsidiary of XO Holdings; and an Equity Purchase Agreement that gives Verizon Wireless the option to purchase Nextlink. The acquisition included a majority of assets from CBS Corporation (including the CBS television network, 50% of The CW, CBS-owned cable channels including Showtime Networks, CBS Interactive, publishing company Simon & Schuster and Australian television broadcaster Ten Network Holdings) and . Dish Network is lobbying the Federal Communications Commission to deny Verizon's proposed $1.8 billion acquisition of XO Communications' spectrum assets and fiber business, claiming among other things that the deal would have an adverse impact on competition in multiple markets. Icahn first . Hence the XO Communications acquisition will help the company offer cable TV and Internet services with 5G connection, at 20-50 times higher speeds of 2-5 Gbps (gigabits per second). $58B+. The company expects to achieve synergies by incorporating XO's fiber assets as part of its current network operations, with the total operating and expense savings estimated at over $1.5 billion. Regarding the Yahoo acquisition, Verizon continues to work with Yahoo to assess the impact of data breaches. AcquiredBy. Before that, he had been vice president and chief accounting officer for XO Communications, a $1.5 billion facilities-based telecommunications service provider, which Verizon acquired in 2017. Customers today may also obtain Interested in Verizon Services? Granted the applications by XO Holdings and Verizon Communications Inc. seeking approval to transfer control of licenses and authorizations in connection with Verizon's acquisition of XO Communications, LLC. Yesterday, after what has been quite a full year of M&A news, Verizon finally finished with all the necessary regulatory hurdles and closed the deal.. Verizon's acquisition of XO Communications' (XO) fiber network business for approximately $1.8 billion is expected to close by the end of the first quarter of 2017 (1Q17). Results of Operations and Financial Condition Attached as an exhibit hereto are a press . According to Fierce Telecom, Verizon acquired 1.2 million miles of fiber and over 4,000 fiber-lit buildings across 40 . The FCC's decision strongly indicates the FCC will approve the CenturyLink's recently proposed acquisition of Level 3 Communications. The transition of selected XO Services to Verizon is complete. The transaction is expected to close in the first half of 2017, pending regulatory approvals. Verizon has completed its $1.8 billion acquisition of XO Communications, deepening its metro fiber density in 45 U.S. markets following a temporary delay due to an FCC review. Number of Acquisitions. Over the objections of several petitioners, the FCC on Wednesday approved plans by Verizon Communications to purchase the fiber optic network business… Corporation Number. Verizon Communications Inc. and XO Communications have pressed the Federal Communications Commission to approve Verizon's $1.8 billion acquisition of the fiber-optic network business of Carl Icahn . XO Communications Inc. History - Read about XO Communications Inc., History of XO Communications Inc. on The Economic Times XO has about 20,000 of fiber route miles across the U.S., most of which we believe to be intercity fiber. Improving our technology with XO Communications. Compare pay for popular roles and read about the team's work-life balance. Last February, one of 2016's most surprising acquisitions was announced as Verizon agreed to buy XO Communications from Carl Icahn. The company comprises of Paramount Pictures - for filmed entertainment . Verizon Media (previously named Oath Inc.) is a subsidiary of Verizon with interests primarily in film, television and digital platforms. The deal will expand Verizon's fiber network in 40 major US markets and increase its 5G-capable wireless spectrum. For more information, please contact Doug Jarrett (jarrett@khlaw.com; 202-434-4180). The acquisition will give . The Verizon/XO acquisition will eliminate XO as a current and future direct competitor in the BDS market. In August 2016, the . Alternative Services and Products: Because these services are being grandfathered, existing customers may retain their current services. Verizon completes purchase of XO Communications' fiber business (Verizon, Feb. 1 .
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