Telecom & Wireless
Were Verizon's (VZ) Fiber TV Subscriptions Inflated?
Published:
In a suit filed in U.S. District Court, an advertising agency has charged Verizon (VZ) with inflating the number of FiOS fiber-to-the-home subscriptions that it has by adding "pending" customers to the count.
According to The Wall Street Journal "Digital Art Services Inc., an advertising company based in Great River, New York, charged Verizon with fraud."
Verizon is in the process of spending $23 billion to put its fiber network so it will pass 18 million homes. The company is gambling much of its future on being able to compete with cable companies for voice, broadband, and TV service. In June, the company added its one-millionth FiOS subscriber. A senior official at Comcast (CMCSA) recently noted the competition with the big telecom was heating up.
Verizon does not need to be viewed as having fuzzy subscription numbers. It has too much on the line. No pun intended.
Douglas A. McIntyre
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
