You will be redirected back to your article in seconds

Verizon Hires Ex-Ericsson CEO Hans Vestberg, Eyes U.S. Internet Pay-TV Launch

Verizon has reorganized into three main operating divisions, with the newly created Network and Technology team to be headed by former Ericsson CEO Hans Vestberg.

The telco announced that Vestberg will join Verizon effective April 3 as EVP of the new Network and Technology team, reporting chairman and CEO Lowell McAdam. Vestberg — who served as Ericsson’s CEO for six years — initially will be based in Sweden, and is expected to relocate to the U.S. later this spring.

Continuing to report to McAdam will be Marni Walden, as EVP of the Media and Telematics division, and John Stratton as EVP of Customer and Product Operations.

The move comes as Verizon is planning to enter the over-the-top pay-TV sector. As first reported by Bloomberg, Verizon is planning to launch an internet-delivered national TV service this summer with several dozen channels.

Verizon hasn’t disclosed specifics of the OTT pay-television service, which will be separate from the free, mobile-oriented Go90 offering. The company said Friday that Stratton will focus on “accelerating Verizon’s shift toward a digital-first model,” for the division that encompasses Verizon Wireless, business services and consumer wireline markets.

McAdam, in announcing the restructuring, said the move will “give us greater organizational agility to continue to lead the market with our wireless and fiber services, scale and expand our media and telematics businesses, and maintain the leadership in network reliability and new technology that is a Verizon trademark.”

Under Walden, the Media and Telematics division will include the combination of AOL with the assets of Yahoo. That will give Verizon more than 1.3 billion digital media users and represent $7 billion in annual revenue. The Yahoo deal is expected to close sometime in the second quarter.

Popular on Variety

More Digital

  • Editorial Use onlyMandatory Credit: Photo by

    YouTube Rolls Back Verification Changes, Says Verified Creators Can Keep Their Badge

    A day after announcing significant changes to its verification program, YouTube announced Friday afternoon that it won’t be de-verifying existing creators after all. “We heard loud and clear how much the badge means to you,” said YouTube product manager Jonathan McPhie in a blog post. “Channels that already have the verification badge will now keep it [...]

  • BLive: BitTorrent Live Streaming App to

    BitTorrent to Launch Public Beta of New Live Streaming App

    BitTorrent is getting ready to open the floodgates for its new live streaming app, dubbed BitTorrent Live: The company plans to launch a BitTorrent Live Android app on various app stores as part of a public beta test late Friday, according to a spokesperson. BitTorrent Live, which is also known as BLive, is being described [...]

  • Netflix - Apple TV

    Netflix Stock Drops After CEO Acknowledges 'Tough Competition' Coming From Disney, Apple

    Netflix shares fell as much as 7% Friday to a nine-month low, coming after CEO Reed Hastings commented that the November launches of Disney Plus and Apple TV Plus will introduce a “whole new world” of competition. Hastings, speaking at the Royal Television Society conference Friday in Cambridge, England, said, “While we’ve been competing with [...]

  • Facebook

    Facebook Suspends Tens of Thousands of Apps During Privacy Investigation

    Facebook has suspended tens of thousands of apps ever since it began investigating potential privacy abuses, the company said Friday. The apps in question had been built by around 400 developers, and a suspension doesn’t necessarily indicate actual privacy violations. Facebook began combing through millions of apps that made use of its platform after the [...]

  • tivo logo

    Tivo Plans to Launch Android TV Dongle, Tivo+ Curation App

    DVR maker Tivo is getting ready to release a new device that may not record television at all: The company plans to launch a $50 Roku-like TV dongle early next year, its new CEO Dave Shull revealed in a conversation with CNN this week. The new device will be powered by Google’s Android TV platform, [...]

  • Still from "Andhadhun"

    Microsoft Streaming Deal Lifts Shares in India’s Eros

    Shares of leading Bollywood film distributor Eros International soared by 38% on Thursday following news of the company’s link up with Microsoft to develop a new generation of video streaming platform. The multinational company said that its Eros Now video operation would work with Microsoft Azure to develop its technology in three ways. They seek [...]

  • Comcast X1 DAZN

    Comcast Adds DAZN Sports-Streaming Service to Xfinity Flex, Sets Launch on X1

    DAZN, the digital sports service headed by ex-ESPN boss John Skipper, is now available to Comcast broadband customers on Xfinity Flex and will be available on Xfinity X1 this fall. It’s the first distribution deal for DAZN with a major U.S. provider since it debuted the combat-sports-oriented service in the States a year ago. In [...]

More From Our Brands

Access exclusive content