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Verizon Communications: Addition
built 652 days ago
Verizon Communications announced that its Board of Directors has authorized the corporation to repurchase up to 100 million shares of its common stock. The board ... determined that no additional shares may be acquired under a previously approved program to repurchase up to 100 million shares. Under the previous program, which was due to end Feb. 28, 2010, approval remained to purchase approximately 30 million shares.
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[U]nder terms of the agreement, Verizon will acquire from AT&T some former Dobson Communications Corporation properties, including licenses, network assets and subscribers, in Kentucky RSA-6 and RSA-8. Verizon will ... acquire 10 MHz of PCS spectrum in a number of markets and receive an additional cash consideration from AT&T.
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"Verizon Wireless continually looks for opportunities to enhance our customers' wireless experience," said Lowell McAdam, president and CEO of Verizon Wireless. "The addition of Rural Cellular's markets will enable us to expand our services into areas where previously we had little or no presence, and will give Rural Cellular's Unicel customers access to the nation's most reliable network and a broader range of voice and data services."
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Lowell C. McAdam is president and CEO of Verizon Wireless. Prior to this position, McAdam was the executive vice president and chief operating officer for Verizon Wireless. In addition to serving as one of nine members on the Verizon Wireless Board of Representatives, McAdam is vice chairman of the Board of Directors of the CTIA, the wireless industry trade association.
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