9,082
edits
Changes
→Bell Atlantic and GTE
In 1997, the Federal Communications Commission approved the $23 billion dollar merger between Bell Atlantic Corp. and NYNEX.<ref>[http://www.fcc.gov/Bureaus/Common_Carrier/News_Releases/1997/nrcc7059.html FCC Press Release]</ref> Bell Atlantic was retained as the name of merged company and the main office in New York. Raymond W. Smith of Bell Atlantic retained its position as Chairman after the merger while Ivan G. Seidenberg, of NYNEX, became Vice Chairman, President and Chief Operating Officer. When Smith retired in 1998, Seidenberg assumed as Chairman and CEO of the company. The merger of Bell Atlantic and NYNEX is the beginning of the present Verizon Wireless.<ref>[http://www22.verizon.com/investor/investor.portal?_nfpb=true&_pageLabel=companyinfo_corporatehistory Bell Atlantic-NYNEX Merger]</ref>
In 1997, the Federal Communications Commission approved the $23 billion dollar merger between Bell Atlantic Corp. and NYNEX.<ref>[http://www.fcc.gov/Bureaus/Common_Carrier/News_Releases/1997/nrcc7059.html FCC Press Release]</ref> Bell Atlantic was retained as the name of merged company and the main office in New York. Raymond W. Smith of Bell Atlantic retained its position as Chairman after the merger while Ivan G. Seidenberg, of NYNEX, became Vice Chairman, President and Chief Operating Officer. When Smith retired in 1998, Seidenberg assumed as Chairman and CEO of the company. The merger of Bell Atlantic and NYNEX is the beginning of the present Verizon Wireless.<ref>[http://www22.verizon.com/investor/investor.portal?_nfpb=true&_pageLabel=companyinfo_corporatehistory Bell Atlantic-NYNEX Merger]</ref>
===Bell Atlantic and GTE===
===Bell Atlantic Cor., and GTE ===
GTE was the largest independent telephone company in the United States which was formed through mergers and acquisitions from independent small telecommunications companies apart from the Bell System. GTE was founded by John F. O'Connell, Sigurd L. Odegard and John A. Pratt in 1918 when the partners bought Richland Telephone Co. in Wisconsin and later acquired other telephone properties in Wisconsin. The partners formed a corporation in 1920 under the name Commonwealth Telephone Company.Sigurd L. Odegard became the company President.<ref>[http://www.shabee.info/?p=1726 GTE History]</ref>
The company re-organized after the 1929 stock market crash and the Great Depression as General Telephone Corp. in 1933. Theodore Gary and Co. merged with General Telephone Corp. in 1955 and four years later the company merged with Sylvania Electric Products Inc., one of the leading companies in electronics, lighting, radio & television and chemistry & metallurgy. This merger 1n 1959 formed the General Telephone & Electronics Corp (GT&E).<ref>[http://www.shabee.info/?p=1726 Sylvania-GTE Merger]</ref>
On June 30, 2000, GTE and Bell Atlantic Corporation entered a $116 billion merger forming Verizon Communications, Inc. The combined company was valued $150 billion and became the largest wireline and wireless communications service provider and leader in data services in the United States.<ref>[http://www.wsws.org/articles/2000/jul2000/bell-j24.shtml Bell Atlantic-GTE Merger]</ref>
Charles Lee of GTE assumed the Chairmanship while Ivan Seidenberg was named President. The two shared the position and responsibilities of Chief Executive Officer of the newly formed Verizon.<ref>[http://washingtontechnology.com/articles/2000/06/30/its-official-bell-atlantic-gte-merge.aspx Verizon.com]</ref>
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