If you’re looking for a more reliable provider for your fiber optic connections, then Verizon may probably be at the top of their game for that. It appears Verizon Communications will now focus on having its very own fiber infrastructure, a big step away from its original plan to get cable companies.
This speculation has come from rumors that Charter Communications Inc. may actually start having a partnership with Verizon. This is courtesy of Reuters, where Verizon CEO Lowell McAdam said last year that this deal, should it be true, may actually make sense.
McAdam cements the rumors at the Goldman Sachs Communacopia Conference, where he told that the company is actually interested in investing in its very own fiber infrastructure. He said this is a feature that is inherently lacking while looking at other cable companies.
It also appears Verizon is already on the move. The company has already signed a deal with Corning Inc. that would allow them to purchase at least $1.05-billion worth of optical fiber from the company.
McAdam added much of these ventures are for Verizon’s Oath line of businesses. Verizon customers can expect the content deals related to this new venture by the end of the month.
It can be remembered that Verizon initially focused on acquiring communications companies. It bought the primary business of Yahoo for an amount of $4.48 billion back in 2016. Verizon then combined AOL and Yahoo to create Oath.
Interestingly, McAdam said this new venture in fiber optics may increase company cost savings of up to $10 billion over the course of four years. This ranges from capital expenses to operating expenses.