Subject: [NEXTEL-1] Verizon Wireless Adds Subscribers, Eyes Expansion

From: [email-masked]
Date: Tue, 27 Jul 2004 22:35:11 -0400

Verizon Wireless Adds Subscribers, Eyes Expansion
BY SUSAN RUSH
JULY 27, 2004

Verizon Wireless managed to attract 1.5 million new subscribers during
the second quarter and boost revenue 25 percent. Beyond the numbers, the
carrier says it has forged a deal with Motorola to expand its network
capacity.

The carrier, which is a joint venture between Verizon Communications and
Vodafone, posted 2Q revenue of $6.85 billion, up 25 percent from a year
ago.  Customer adds came in at 1.54 million, which was in line with
estimates forecast by the carrier last month when it hit the 40 million
subscriber mark.

Churn dipped during the quarter to 1.45 percent.

Lehman Brothers analysts Tim Luke and Blake Bath said in a research note
that the firm views the carrier's performance as "in-line with our
expectations for growth in the wireless handset market."

In other Verizon Wireless news, the company signed a 3-year deal with
Motorola covering the deployment of CDMA2000 1X radio base stations, IP
call processing platforms and advanced messaging solutions. The
deployments are slated to occur in major Verizon markets, including
Denver, Minneapolis, Sacramento and the Carolinas.

The overall goal of the Motorola agreement is to expand Verizon
Wireless' network capacity and coverage.

Verizon Wireless has been busy making deals to expand its coverage area.
The carrier recently signed a contract to fork over $930 million to snap
up NextWave Telecom spectrum license in New York. Verizon is currently
the top U.S. wireless carrier, but is expected to be knocked out of the
No. 1 spot if the pending merger between AT&T Wireless and Cingular
Wireless is approved.
http://www.wirelessweek.com/index.asp?layout=newsat2direct&starting=2&pubdate=07/27/04

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