Verizon Communications Inc. (VZ) has entered into a long-term contract with Turner Broadcasting, a unit of Time Warner Cable Inc. (TWC) for providing Turner’s content to FiOS TV Subscribers. The deal would provide Verizon’s FiOS TV Subscribers access to several entertainment channels including TBS, TNT and Cartoon Network, which can be watched through television, PC, tablet and mobile handsets.
Per the agreement, FiOS TV customers can avail on-demand programming and live streaming of all major Turner networks through instant access with automatic login facility.
Verizon remains committed to improve long-term profitability in its wireline services through product streamlining and process simplification initiatives as well as cost management actions. To support the company’s landline products and services, primarily FiOS Internet and FiOS TV, management is appointing 100 full-time sales employees for the national customer-retention center. This unit will manage sales issues as well as extend customer support.
Further, Verizon is consistently collaborating with media and cable companies to foster market share gains in different service categories as well as enter new sectors without seeking merger and acquisition strategies. The company has tied up with Cox Communications to offer bundled service packages consisting of video, phone and Internet in Phoenix and Las Vegas.
The telecom carrier has also extended its multi-year agreement with National Football League (:NFL) for content delivery. The renewed agreement is expected to extend the ties between the two entities through the inclusion of live afternoon coverage of games on Sunday as well as off-season games aired by CBS Corp. (CBS) and Fox Sports, a business unit of Twenty-First Century Fox, Inc. (FOX).
Verizon currently has a Zacks Rank #2 (Buy).