It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Originally posted by djohnsto77
I think you've got some wires crossed stu...Verizon has nothing to do with MCI, it's a product of the merger of Bell Atlantic and NYNEX, two baby bells created with the breakup of the AT&T Bell System monopoly. MCI was always a separate firm and actually its lawsuits led to the AT&T breakup.
[edit on 12/22/2006 by djohnsto77]
On February 14, 2005, Verizon agreed to acquire MCI, formerly WorldCom, after SBC Communications agreed to acquire AT&T just a few weeks earlier.
Media coverage has focused on several ways in which that acquisition, once completed, would benefit Verizon, including economies of scale derived from a potential productivity boost to be achieved via the elimination of thousands of jobs at the combined company, and access to the large base of business customers currently served by MCI. The real benefit to Verizon was the acquisition of long-haul lines. The bulk of Verizon's business is concentrated in the eastern United States. This not only renders the company, effectively, a regional phone company, but also forces it to pay usage fees to long-haul carriers, such as former MCI, to complete calls for its customers whenever those calls go outside the Verizon "footprint". That need is obviated by the MCI acquisition and was key in the long term market position strategy. By January 6, 2006, MCI was incorporated into Verizon with the name Verizon Business. With this merger, Verizon also acquired the naming rights to the Washington, DC home of the Washington Wizards and the Washington Capitals, the Verizon Center (formerly known as the MCI Center).
Just prior to the acquisition, MCI had purchased an internet services company, Totality.
Verizon, with MCI, is currently the largest telecommunications company in the United States based on sales of $75.11 billion, profits of $7.4 billion and assets of $168.13 billion. After completion of the BellSouth/AT&T merger, AT&T will become the largest telecommunications company in the world in terms of assets and profits.
Originally posted by stumason
Didn't even know that there was a Verizon prior to them taking over MCI.