Communication's CEO Ivan Seidenberg believes that his company's 4G
LTE network could one day become a "modest substitute" for
traditional cable and Internet, The
Wall Street Journal reports.
had previously predicted the trend of cord-cutting -- eschewing wired
cable TV in favor of Internet entertainment consumption -- to take
hold. And, in fact, cable
companies felt the loss of more than 500,000 subscribers in
the third quarter of 2010 alone. The cable companies deny
cord-cutting is a growing trend.
Seidenberg said that he doesn't predict an immediate consumer jump
from wired internet services to Verizon's LTE, he did say that some
will make the switch. Particularly because Verizon's LTE network can
deliver comparable speeds to traditional wired cable Internet.
However, Seidenberg made no mention of how Verizon's
monthly data caps would affect the outcome of his
for Verizon's wireline business, Seidenberg says he feels better
about it now than he has in the last five years, thank to the
company's investment in FiOS. He said that with the higher speeds
FiOS can offer, Verizon is in a position to change the model for
services, someday possibly delivering TV and Internet as a single
is set to retire in the second half of 2011, when Lowell McAdams will
take over as Verizon's top executive.