Verizon Executive Says Company Can Work With Either Party That Wins in November

Verizon isn’t stressing about the November election, Sowmyanarayan Sampath, executive vice president and CEO of Verizon Consumer Group, said Wednesday at a Bank of America financial conference. Verizon has “a very strong track record of working with both the Democrats and the Republicans,” he said: “We know how to work with them to get better outcomes and connectivity for everyone.” Priorities for Verizon include a program like the expired affordable connectivity program and support for rural broadband, he said. Verizon is also focused on Communications Act Title II “reforms” and tax policy. The company had 1.1 million ACP customers, and 65% are now paying customers, Sampath said. He projected further growth in Verizon’s fixed wireless access offering, and expects the program to hit 4 million this quarter. “Very soon, we have to come back and explain how we grow the next tranche,” he said: “We have a lot more capacity. As they say, they build the church for Easter.” Sampath said the wireless industry will continue to add customers, partly as a result of “strong immigration,” which adds several million potential subscribers each year. Verizon is pleased with its prepaid position. “With our Tracfone acquisition, plus some of our brands that we put into the mix that were legacy Verizon, we have what is, I think, the best prepaid business in the market today.” He projected the carrier will have net positive prepaid adds this quarter, excluding any SafeLink ACP losses, after losing customers in recent quarters. Sampath declined to comment, in general, on media reports that Verizon is considering acquiring Frontier. “We like to own our own fiber assets for the most part,” he noted. New Street said Wednesday it views the reports as “credible.”