Verizon Communications, is an American broadband and telecommunications company, the largest U.S. wireless communications service provider as of September 2014, and a corporate component of the Dow Jones Industrial Average. The company is based at 1095 Avenue of the Americas in Midtown Manhattan, New York City, but is incorporated in Delaware. What eventually became Verizon was founded as Bell Atlantic, which was one of the seven Baby Bells that were formed after AT&T Corporation was forced to relinquish its control of the Bell System by order of the Justice Department of the United States. Bell Atlantic came into existence in 1984 with a footprint from New Jersey to Virginia, with each area having a separate operating company consisting of New Jersey Bell, Bell of Pennsylvania, Diamond State Telephone, and C&P Telephone.

As part of the rebranding that the Baby Bells took in the mid-1990s, all of the operating companies assumed the Bell Atlantic name. In 1997, Bell Atlantic expanded into New York and the New England states by merging with fellow Baby Bell NYNEX. In addition, Bell Atlantic moved their headquarters from Philadelphia into the old NYNEX headquarters and rebranded the entire company as Bell Atlantic. In 2000 Bell Atlantic merged with GTE, which operated telecommunications companies across most of the rest of the country that was not already in Bell Atlantic's footprint. Bell Atlantic, the surviving company, changed its name to "Verizon", a portmanteau of veritas Latin for "truth" and horizon.

Verizon Communications formed in June 2000 when the Federal Communications Commission approved a US$64.7 billion merger of telephone companies Bell Atlantic and GTE, nearly two years after the deal was proposed in July 1998. The approval came with 25 stipulations to preserve competition between local phone carriers, including investing in new markets and broadband technologies. The new venture was headed by co CEOs Charles Lee, formerly the CEO of GTE, and Bell Atlantic CEO Ivan Seidenberg. Upon its inception, Verizon became the largest local telephone company in the United States, operating 63 million telephone lines in 40 states.The company also inherited 25 million mobile phone customers. Additionally, Verizon offered internet services and long-distance calling in New York, before expanding long-distance operations to other states.

The name Verizon derives from the combination of the words veritas, Latin for truth, and horizon.The name was chosen from 8,500 candidates and the company spent $300 million on marketing the new brand.Two months before the FCC gave final approval on the formation of Verizon Communications, Bell Atlantic formed Verizon Wireless in a joint venture with the British telecommunications company Vodafone in April 2000. The companies established Verizon Wireless as its own business operated by Bell Atlantic, which owned 55% of the venture.Vodafone retained 45% of the company.The deal was valued at approximately $70 billion and created a mobile carrier with 23 million customers. Verizon Wireless merged Bell Atlantic's wireless network, Vodafone's AirTouch and PrimeCo holdings, and the wireless division of GTE. Due to its size, Verizon Wireless was able to offer national coverage at competitive rates, giving it an advantage over regional providers typical of the time.

Company : Verizon

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