Verizon confirms plans to launch a TV streaming service
- Wednesday, May 24th, 2017
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Verizon chairman and CEO Lowell McAdam has confirmed that the company plans to launch an internet streaming service later this year.
According to a report from Variety, citing remarks made at a J.P. Morgan tech, media and telecom conference in Boston, McAdam said Verizon will use the combination of Yahoo and AOL to “test out an over-the-top service”. Though the CEO didn’t provide any further information, the service will be in addition to Verizon’s Go90 ad-supported mobile video service, rather than in place of.
McAdams also said that the NFL game it paid $21m for “goes to the AOL-Yahoo strategy.” The game between the Baltimore Ravens and Jacksonville Jaguars takes place at Wembley Stadium on 24 September, and will be streamed live across Verizon’s video platforms including AOL, Yahoo, Fios TV, Go90 and Complex.com.
Last month, Verizon announced its plans to combine AOL and Yahoo into a new company named Oath, bringing together the two companies’ “1bn-plus consumers [and] 20-plus brands”. The new company will be headed up by AOL CEO Tim Armstrong, however, Yahoo CEO Marissa Mayer will play no part in the business.
The long-running saga surrounding Verizon’s acquisition of Yahoo is expected to reach its conclusion when the deal finally closes next month. The pair agreed a lower price deal in February after two large-scale data breaches put the acquisition in jeopardy.