UBS: Verizon CEO downplays streaming deal

McAdam says company considered buying a major player in the space

Verizon CEO Lowell McAdam Wednesday dismissed reports of a new streaming video service, at least imminently, as “lots of speculation about what we are going to do by people writing on blogs,” although he acknowledged the company had considered buying a major player in the space.

“We looked at alternatives. When Hulu was on the market we looked at that,” he told investors at the UBS Global Media and Communications Conference in Gotham.

McAdam said any service down the line would hopefully be able to benefit from synergies with new best friends Comcast and Time Warner Cable.

News reports Tuesday said the telco is in talks with prospective programming partners about the service which would be introduced as early as next year outside of markets where it now offers its FiOS video and Internet package.

Last week the cable companies sold Verizon much needed new wireless spectrum for $3.6 billion and entered into a wide-ranging deal where they would market each other’s products and work together on new technology for mobile devices. Comcast and Time Warner Cable execs presented at the conference earlier in the week, talking up the partnership and its benefits. The two cablers, for one thing, can now launch a “quad” play, with wireless on top of the traditional video, voice, and data.