Print 31 comment(s) - last by Obsoleet.. on Jun 8 at 5:04 AM

Verizon Wireless gets its Alltel love

Verizon Wireless announced today that it will buy all of Alltel’s assets for an aggregate value of $28.1 billion. At the time of the agreement the bulk of that amount -- $22.2 billion -- will pay off Alltel debit and the remaining $5.9 billion is the value of Alltel’s equity.

Verizon Wireless said in a press release that it expects the deal to be completed by the end of 2008, but it points out that the deal is subject to regulatory approvals. Alltel and Verizon’s networks operate on common network technology making the transfer of Alltel customers to Verizon networks seamless.

Verizon points out that the purchase of Alltel will give it access to 57 new and primarily rural markets that Verizon Wireless doesn’t currently serve. Alltel currently has more than 13 million customers in markets across 34 states.

Verizon CEO and board chairman Ivan Seidenberg said in a statement, “This is a perfect fit, with Alltel's high-value post-paid customer base, its solid financials, our common network technology, and significant, readily attainable synergies. Verizon Wireless' acquisition of Alltel clearly provides opportunities for enhanced value for Verizon shareholders."

Verizon Wireless says that the acquisition will offer Alltel customers a much larger IN Network calling community and will allow Alltel customers access to a downloadable library of 3 million songs. Alltel customers will also get Verizon Wireless consumer policies like Test Drive and Worry Free Guarantee.

Verizon and Alltel aren’t the first big names to merge in the cellular services market. AT&T and Cingular merged in a deal costing AT&T $86 billion in 2007.

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Aw, $h1t
By amanojaku on 6/5/2008 11:58:37 AM , Rating: 3
Competition. Fading. Away... The upshot is we don't have to watch those "Chad" commercials anymore.

RE: Aw, $h1t
By FITCamaro on 6/5/2008 12:00:02 PM , Rating: 5
I think they should have one last one where the Verizon guy beats down Chad and says "Join me or die."

RE: Aw, $h1t
By othercents on 6/5/2008 12:15:50 PM , Rating: 2
"WIZARDDDD... *poof* Sorry Chad, Verizon paid more."

RE: Aw, $h1t
By daftrok on 6/5/2008 3:09:48 PM , Rating: 5
Oh I got a better one:

Tmobile, AT&T and Sprint guy: Dude, what are you doing?
Verizon: Well, our methods weren't working soo...
*Chad walks in wearing Verizon shirt*: Can you hear me now?

RE: Aw, $h1t
By Bender 123 on 6/5/2008 1:45:27 PM , Rating: 3
Come and get your cash...Come and get your cash, come and get your cash baby...

Seriously, I used to have Alltel, and my wife and I constantly joked about how many minutes they would owe us for the dropped calls.

I agree, the upshot to this whole thing is they can now stuff Chad in the same closet as the Dell Dude...

RE: Aw, $h1t
By Sulphademus on 6/6/2008 1:15:58 PM , Rating: 2
Should I be glad that AllTel isnt out my way?

Every Chad Ive ever known IRL has been a terribly annoying person.

RE: Aw, $h1t
By AlexWade on 6/5/2008 5:10:29 PM , Rating: 2
BOO! Alltel is one of the best carriers ever. Good prices, great service, good coverage. Well say goodbye to good prices. Say hello to high prices and crippled phones. Say hello to paying money for what others can do for free.

RE: Aw, $h1t
By mcnabney on 6/6/2008 11:03:16 AM , Rating: 1
What crippled phones?

Verizon Wireless is the only carrier that is allowing open access to their network. And the Bluetooth crippling was due to the DRM of downloaded content like ringtones, games, and music.

RE: Aw, $h1t
By EATTHEAPPLE on 6/6/2008 2:36:42 PM , Rating: 2
Sure Alltel might have been good but now that Verizon has lept from the bowels of hell and consumed it, it too is doomed. Verizon is the least organized of them all. I wonder how many people it has ruined by turning them over to creditors for bills that were already paid.

I wish T-Mobile would bring back Katherine.

RE: Aw, $h1t
By Locutus465 on 6/5/2008 5:28:10 PM , Rating: 2
I hope VZW introduces AlTell pricing plans to their customers... The cost of verizon is the only thing I don't like about the service.

RE: Aw, $h1t
By Reclaimer77 on 6/5/2008 6:28:34 PM , Rating: 1
Yeah except Alltell just sucked.

Verizon does cost a bit more. But every time I sign up with a cheaper provider I get MUCH worst service. Its an unnaceptable trade off. I need my cellphone to actually WORK. And with Verizon it just does.

RE: Aw, $h1t
By Locutus465 on 6/6/2008 12:15:51 AM , Rating: 2
There's a reason why I've stuck with verizon through the years...

RE: Aw, $h1t
By AstroCreep on 6/5/2008 9:31:30 PM , Rating: 2
How is their pricing much different than say...AT&T?
Both charge (on a monthly basis) $40 for 450 minutes, $60 for 900, $80 for 1350, and $100 for 'Unlimited'.

Sure, it appears you can get a little better deal with the current Alltel pricing. Besides, Alltel could do that because they don't have as large a market share as Verizon or AT&T; they need to make the plans a little juicier to entice potential customers. What better way to compete with the 'big boys' than to give your customers something more for their money?

RE: Aw, $h1t
By Locutus465 on 6/6/2008 12:22:26 AM , Rating: 2
Actually unlimited with verizon is $139/mo and this does not include unlimited data. Sprint for instance offers $100/mo unlimited everything. With AllTel you get 2100m/mo plus unlimited in/night weekend and 20 my circle for $99. Much more affordable, for $59 you get 900m the rest the same except 10 my circle (a concept vzw lacks).

RE: Aw, $h1t
By mcnabney on 6/6/2008 11:05:07 AM , Rating: 2
Expect a calling circle to be available at Verizon as an added feature in 2009. It will ease the acquisition and provide more options to customers.

RE: Aw, $h1t
By tallcool1 on 6/6/2008 10:15:59 AM , Rating: 2
Sorry, but I'd rather see the Chad commercials than that Verizon "Can you hear me now" guy! Those commercials are so annoying.

RE: Aw, $h1t
By Bender 123 on 6/6/2008 10:29:10 AM , Rating: 2
Maybe the next commercial will be the wizard killing everybody, including Chad and we will find out the new name of the combined companies is Wizzardtel.

Their marketing tag line could be "I can hear you, like magic"...

RE: Aw, $h1t
By Reclaimer77 on 6/6/2008 6:32:31 PM , Rating: 2
Holy s#$%. Somebody hire this guy !!!

I love using Verizon
By Obsoleet on 6/5/2008 1:46:04 PM , Rating: 3
I've been on VZW for years and will probably never switch carriers until a large market shift happens. The service is great and the phone I just got (Moto Z6C) is great, much faster UI than my old Razr. Since I work in Europe and the US, having a phone that works worldwide is worth a lot to me. The coverage in the US goes from the cities to the middle of a cornfield.. welcome to the best network Alltel customers. :)

RE: I love using Verizon
By rdeegvainl on 6/5/2008 2:45:42 PM , Rating: 2
but i never had a problem with my alltel network... But yeah, as long as they don't screw up what we already have, and it just expands our network, cool beans.

RE: I love using Verizon
By tcunning on 6/5/2008 8:04:55 PM , Rating: 2
I agree Verizon has the best service, at least near Philadelphia where I live. I've had all the rest (though not the "new AT&T), and you get what you pay for.

But you have a Verizon phone that works in Europe? I didn't know Verizon could do that. How do you get charged when overseas? I had to rent a Vodaphone through Verizon when travelling to the UK (and, I have to say, the call quality and coverage were phenomenal--land line good).

RE: I love using Verizon
By Locutus465 on 6/6/2008 11:10:09 AM , Rating: 2
I know that in the past VZW had plans where you could switch to GSM phone and take that to Europe under their global plan, I don't know how they handle it now. Perhaps they offer some CDMA compatibilty with their global assets?

RE: I love using Verizon
By Obsoleet on 6/8/2008 5:04:40 AM , Rating: 2
They have a few dualmode CDMA/GSM phones. You add global service to your plan, get the SIM card and you're off to the races. The rate depends what country you're in. I work in France and it's not cheap at $1 a minute, but it works and that is good enough for me.

If I couldn't afford it, I wouldn't be working in France anyway. I keep my usage to a minimum but it's very nice to have just in case there's an emergency back home or having to mess with anything to reach someone in the States quickly. Just use my phone as usual.

RE: I love using Verizon
By Bender 123 on 6/6/2008 11:29:40 AM , Rating: 2
You were already on the Alltel network when you were in a cornfield. Verizon and Alltel have a reciprocity agreement for Alltel's rural network. Same goes for Sprint.

Have to wonder
By FITCamaro on 6/5/2008 11:59:07 AM , Rating: 2
Whats gonna happen to their little My Circle gig.

RE: Have to wonder
By UppityMatt on 6/6/2008 9:21:22 AM , Rating: 2
I was thinking the same thing. Either Verizon will can it, or will implement it into their pricing scheme. From my point it would see more beneficial for them to include it in new plans... only time will tell i guess though.

so let me get this straight
By psyph3r on 6/5/2008 6:38:39 PM , Rating: 3
I'm an AT&T customer..Cingular buys AT&T and the FED requires them to sell a percentage of customers to Alltel (including me)...AT&T swoops back in and buys Cingular soon after. Now Alltel sells me to verizon. This is getting ridiculous. I can't depend on who I'm getting my bill from the next month. This all looks like consolidation with out any checks and balances.
Start:AT&T, Verizon, Cingular, Alltel...
Scrambled crap
End AT&T, Verizon

By Brian23 on 6/5/2008 12:01:31 PM , Rating: 2
86 Billion? Clearly the cell phone industry is where all the money is.

I assume you mean debt
By omnicronx on 6/5/2008 12:47:15 PM , Rating: 2
will pay off Alltel debit
will pay off Alltel debt

RE: I assume you mean debt
By Choppedliver on 6/5/08, Rating: 0
By cyberserf on 6/6/2008 3:14:17 AM , Rating: 2
The problem here and with all big mergers is the FCC.
They don't have the balls to say no.
It seems we have government corruption at all levels.
Isn't the purpose of the FCC to protect consumers?

"What would I do? I'd shut it down and give the money back to the shareholders." -- Michael Dell, after being asked what to do with Apple Computer in 1997
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