Reports say telecommunications giant Verizon has dissolved its partnership with fellow media firms Comcast, Time Warner Cable and others, Verizon announced Friday in its third quarter earnings call.
Verizon had entered into the joint venture to coordinate media sales, an agreement that had Verizon selling Comcast services while Comcast bundled Verizon products.
The partnership, which also included an “innovation technology joint venture” for the companies to develop new communications infrastructure, was dissolved last August according to a Verizon spokesperson.
Despite the end of the joint venture, the companies will remain in close ties.
Reports say the commercial sales aspect of the agreements will remain in place and will continue to distribute each other’s products and services. The reports mean at least part of the joint venture’s agreements will remain intact.
According to Verizon, however, the cooperation between the companies to develop new infrastructure will end.
The partnership first raised competition concerns among the US Department of Justice in July of 2012.
Full content: The Verge
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Justice Department Moves to End NCAA Transfer Rule
May 30, 2024 by
CPI
Kenya’s Competition Authority Proposes Tougher Regulations on Big Tech
May 30, 2024 by
CPI
KKR Secures EU Antitrust Approval for $24 Billion Acquisition of Telecom Italia’s Fixed-Line Network
May 30, 2024 by
CPI
European Court Sides with Tech Giants in Italian Regulatory Dispute
May 30, 2024 by
CPI
US Steel and Nippon Steel Secure International Approvals for $14.9B Merger
May 30, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Healthcare Antitrust
May 31, 2024 by
CPI
AI and Antitrust Considerations in U.S. Health Care
May 31, 2024 by
CPI
Uncertainty in the Bottom Line: New Antitrust Scrutiny and Enforcement in Private Equity Transactions
May 31, 2024 by
CPI
Effecting M&A Diligence When Competitors Are Involved
May 31, 2024 by
CPI
AI, Pharmaceutical Sector, and EU Competition Law and Policy: What Does the Future Look Like?
May 31, 2024 by
CPI