In September 1999,
Americanphone companyBell Atlantic and
U.K.-based
Vodafone Airtouch PLC announced they would create a new
wireless phone servicejoint venture valued at $70 billion in September 1999.[1] The joint venture was being created as Bell Atlantic underwent a
merger with
GTE Corporation. In April 2000, the companies announced that the Bell Atlantic-GTE merger would take the name
Verizon and that the Bell Atlantic-Vodafone
wireless unit would be called Verizon Wireless.[2] Verizon Communications owned 55 percent of Verizon Wireless while Vodafone retained 45 percent ownership.[3] Regulators with the
Federal Communications Commission approved the Bell Atlantic-GTE merger June 16, 2000,[4] creating the largest wireless company in the U.S.[5] Verizon Wireless held this market position until Cingular acquired AT&T in 2004.[6]
Throughout the 2000s, Verizon acquired several wireless phone companies and assets across the country, including West Virginia Wireless in 2006;[7] Ramcell in 2007;[8]Rural Cellular Corporation[9] and
SureWest Communications, both in 2008.[10] Also in 2008, Verizon struck a deal to buy
Alltel for $5.9 billion in equity while assuming $22.2 billion worth of debt.[11][12] The deal finalized January 9, 2009, again making Verizon Wireless the country's biggest cellphone network.[11] As per the agreement, Verizon sold rural wireless properties across 18 states to AT&T. Those properties were in Alabama, Arizona, California, Colorado, Iowa, Kansas, Michigan, Minnesota, Montana, Nebraska, Nevada, New Mexico, North Dakota, South Dakota, Tennessee, Utah, Virginia and Wyoming.[13] Verizon's acquisitions continued in the 2010s, including the purchases of some Plateau Wireless markets in 2012[14] and Golden State Cellular's operator in 2014.[15]
Majority owner Verizon Communications became sole owner of its wireless business in 2014, when it bought Vodafone's 45 percent stake. Vodafone received $58.9 billion cash, $60.2 billion in stock and $11 billion in other transactions.[16][17] An article in
The New York Times estimated Verizon Wireless' valuation at about $290 billion.[16]
A November 2014 story in The Washington Post reported that Verizon Wireless used "supercookies" to track its mobile customers on the Web for targeted advertisements.[18] After facing criticism for the practice, Verizon Wireless announced in January 2015 that customers could opt-out of the program.[19][20]