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VERIZON PLANS TO LAUNCH INTERNET VIDEO SERVICE

September 12, 2014 by · 1 Comment 

Verizon is the latest media company to announce plans to launch an Internet video service offering content that consumers ordinarily access via cable and satellite (a so-called over-the-top or OTT service). As reported by the Wall Street Journal, Verizon is "nearing agreements" with major content providers. Indicating that it already has the technology in place to deliver such a service, Verizon CEO Lowell McAdam said, "I think over-the-top video is right around the corner. … We’ve got the assets in place, and I don’t feel we need an awful lot more." As for cable networks that have previously rejected online deals, fearing they could harm their arrangements with cable providers, McAdam said that Verizon had "moved from almost a stiff arm to much more of an embrace." The dialogue, he said, "is changing dramatically." According to the Journal Verizon is looking to launch a subscription that would be akin to Netflix,Amazon and Hulu but would also stream some live channels, particularly sports events.