reports
- David Barden
- Vikash Harlalka
A deeper dive on 'terminal' broadband market share
We recently published our Future of Broadband report where we predicted Cable’s broadband market share will continue to fall for the foreseeable future. We got the question, 'what is cable market share looking like in the most mature fiber markets, is it asymptoting?'. The answer is no. In this report, we use data from our Opensignal partnership to show that Cable’s subscriber market share has continued to fall in markets where they compete against only one fiber provider over a multi-year perio...
Verizon and Frontier Receive All Required Regulatory Approvals to Comp...
Verizon and Frontier Receive All Required Regulatory Approvals to Complete Transaction Receipt of California regulatory approval on January 15, 2026 clears path to close transaction on January 20, 2026Approved transaction is expected to expand fiber access to almost 30 million homes and businesses and accelerate Verizon’s national mobility and broadband convergence strategy Best mobile and home offers are expected to be available for customers after closing BASKING RIDGE, N.J. and DALLAS, Jan. 15, 2026 (GLOBE NEWSWIRE) -- Verizon Communications Inc. (NYSE, Nasdaq: VZ) ("Verizon") and Fr...
- Blair Levin
VZ/FYBR Win Changes in CPUC Order; Approval Imminent
As we suggested in our note following up on the oral argument relating to the California Public Utilities Commission (CPUC) approval of the VZ/FYBR transaction, the CPUC appeared sympathetic to VZ’s concerns. As a result, we thought all the issues could be resolved in a manner acceptable to VZ and that the CPUC could approve the deal as soon as today, the 15th. Based on a 169 page filing by the Administrative Law Judge late yesterday, it appears that assessment was correct and it is now likely...
- Blair Levin
Supreme Court Takes FCC Cases; Potential Investor Impacts
The Supreme Court is reviewing two combined cases, one involving T and the other VZ, that question the constitutionality of the way the FCC enforces its rules. In this note, we describe the cases and how the outcome may affect investments in the sector.
- Blair Levin
FCC Grants VZ Waiver on Phone Unlocking
Yesterday, the FCC granted VZ’s request to waive a previous FCC rule related to unlocking phones that put VZ at a disadvantage relative to T and TMUS. We covered this issue in a note back in November, predicting that the FCC would take this action and that it would be a positive decision for VZ and negative for its competitors. To help investors understand the significance of the action, we are reprinting the note here.
- Blair Levin
VZ/FYBR CPUC Oral Argument: Quick Post-Game Analysis
Yesterday morning, we provided our pre-game analysis of the California Public Utilities Commission (CPUC) oral argument that was held late yesterday afternoon. We have not yet seen the transcript but in this note we make a couple of observations to assist investors following the transaction.
- Blair Levin
VZ/FYBR CPUC Argument Today: Our Pre-game Analysis
Today, at 1:00 PM PT, there will be an oral argument before the California Public Utilities Commission (CPUC) in which VZ will argue for various changes to the Proposed Decision (PD) related to VZ’s acquisition of FYBR. As discussed in last week’s note, there are many issues at stake but from an investor’s perspective the most critical appears to be about what deployment obligations the combined company will have if the merger closes. In this note, we list the changes VZ seeks to assist invest...
- Blair Levin
VZ/FYBR: Filings Confirm Concerns about CPUC Deployment Requirement
Recent filings at the California Public Utilities Commission (CPUC) confirm that there is still a gap between what VZ is willing to do to gain approval of its acquisition of FYBR and what the CPUC wants. In this note we update our thinking on the state of play and what happens next.
- Blair Levin
Part Three of Year in Preview: Our Analysis about Policyband’s Predict...
This week we published three notes that preview what we think will be critical to investors in telecom/media/tech policy environment. In the first, we evaluated what questions do we not know the answer to today but will in a year that will have a material impact on stocks and depend in part on policy. In the second, we looked at the biggest policy related investment stories of 2025 and how the lingering elements of those stories will play out. In this third one we evaluate nine predictions mad...
- Blair Levin
Part Two of Year in Preview: What about SATS, BEAD, Spectrum, and Othe...
This week we are publishing three notes that analyze what we think will be critical to investors in telecom/media/tech policy environment in the year ahead. In the first one, published yesterday we evaluated questions that we do not know the answer to today--but will in a year--that will have a material impact on stocks and depend in part on policy. In this second one, we look at the biggest policy related investment stories of 2025 and how the lingering elements of those stories will play out i...
*MEDIA ALERT* Verizon and David Beckham Kick Off Third Wave of Verizon...
*MEDIA ALERT* Verizon and David Beckham Kick Off Third Wave of Verizon Ultimate Access, Dropping Free FIFA World Cup 2026™ Tickets Exclusively for Customers NEW YORK, Jan. 05, 2026 (GLOBE NEWSWIRE) -- WHAT: Verizon is back with David Beckham to announce the third Verizon Ultimate Access ticket drop for FIFA World Cup 2026™ giving customers an unprecedented opportunity to attend World Cup matches. From January 7-11, customers will have the chance to score hundreds of free tickets to every match, including all group stage matches in every U.S. city. WHY: As the Official Telecommunication...
*MEDIA ALERT* Verizon Launches The Ultimate Super Bowl LX Experience
*MEDIA ALERT* Verizon Launches The Ultimate Super Bowl LX Experience Verizon customers have the chance to score an all expenses paid trip to Super Bowl LX, including on-field access and more, proving no one gets you closer to Super Bowl LX NEW YORK, Jan. 05, 2026 (GLOBE NEWSWIRE) -- WHAT: Verizon will launch an exclusive Super Bowl LX experience for customers, with multiple once-in-a-lifetime opportunities to win unparalleled access and prizes. No One Gets You Closer: The Ultimate Super Bowl LX Experience The ultimate prize is the Super Bowl Experience, which includes game tickets,...
- David Barden
Verizon to report earnings January 30, 2026
Verizon to report earnings January 30, 2026 NEW YORK, Dec. 29, 2025 (GLOBE NEWSWIRE) -- Verizon Communications Inc. (NYSE, Nasdaq: VZ) will report fourth-quarter 2025 earnings on Friday, January 30, 2026. The company will present results and provide a business update on a webcast beginning at 8:00 a.m. Eastern Time. Access instructions and fourth-quarter 2025 materials, including Verizon’s press release and financial tables, will be available at 6:30 a.m. ET on Verizon’s Investor Relations website, . Verizon Communications Inc. (NYSE, Nasdaq: VZ) powers and empowers how its millions of...
- Blair Levin
In Partial Win for Cable, Trump Memoranda Appears to Protect CBRS
Late Friday, President Trump released a new Presidential Memoranda on 6G and Spectrum. While what the Memoranda said is largely a restatement of what we have previously reported, we think the most important element for investors is what it didn’t say; specifically, that by omission it appears to protect the spectrum known as the Citizens Band Radio Services (CBRS) currently used by cable (and others) for wireless services. In this note we provide an analysis of the Memoranda.
- Vikash Harlalka
- Blair Levin
VZ/FBYR/CPUC Update: Build Out Requirements Remain an Issue
In a recent analysis of an Administrative Law Judge issuing a Proposed Decision recommending California Public Utilities Commission (CPUC) approval of the VZ/FYBR deal, albeit with numerous conditions, we focused on the conditions related to the tension between VZ’s letter to the FCC changing its policies toward DEI and requirements under California law and regulation, as that has been the key discussion point in the process to date. We noted but did not focus on the build-out requirement in pa...
- Vikash Harlalka
- Blair Levin
VZ/FYBR Moves Toward California Approval
The VZ/FYBR deal has moved closer to closing with an Administrative Law Judge issuing a Proposed Decision recommending California Public Utilities Commission (CPUC) approval, albeit with numerous conditions. In this note we discuss that Proposed Decision and the steps forward from here.
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