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Verizon Wireless to buy Alltel in $28.1 billion deal

Posted: June 5th, 2008, 12:26 pm
by Rocketfan
I know this affects some FF including me

NEW YORK (Reuters) - Verizon Wireless said on Thursday it will buy rural mobile service provider Alltel Corp for $28.1 billion including debt, which would vault it to first place in the U.S. market ahead of AT&T Inc (T.N).

Under terms of the deal, Verizon Wireless would acquire the equity of Alltel for $5.9 billion, and assume an estimated $22.2 billion in debt that was incurred primarily when Alltel was taken private in a leveraged buyout last November by TPG Capital (TPG.UL) and Goldman Sachs Group Inc's (GS.N) GS Capital Partners
http://news.yahoo.com/s/nm/20080605/bs_ ... izon_dc_12[/u]

Posted: June 5th, 2008, 12:28 pm
by Rocketfan
Interesting stat about alltel

"Alltel serves 57 primarily rural markets that Verizon Wireless does not serve, Verizon Wireless said. They both use a common network technology."

Posted: June 5th, 2008, 12:35 pm
by Fumblerooskies
Can you hear me now?

Wonder what this will mean for us loyal Alltel customers? More importantly, what will happen to CHAD?

Posted: June 5th, 2008, 12:42 pm
by SuperJon
If my service starts to suck now because of this I'm gonna be angry.

Posted: June 5th, 2008, 12:48 pm
by Fumblerooskies
SuperJon wrote:If my service starts to suck now because of this I'm gonna be angry.
You and me both. I love Alltel and the My Circle. The good thing is that we should be able to get a bigger variety of phones.

Posted: June 5th, 2008, 12:51 pm
by SuperJon
That's the only positive of this. I'm ok have less selection of phones and having service pretty much everywhere I go.

Posted: June 5th, 2008, 12:54 pm
by Rocketfan
SuperJon wrote:That's the only positive of this. I'm ok have less selection of phones and having service pretty much everywhere I go.
Well if they are buying Alltel, they are obviously going to get the towers too, you actually should get better service with more available towers.....you would think...

Posted: June 5th, 2008, 12:59 pm
by Fumblerooskies
You would think...but I can see price boosts in the plans.

Posted: June 5th, 2008, 1:15 pm
by jcmanson
I've been with Verizon for 6 years. I've never had a problem with service.

Posted: June 5th, 2008, 1:26 pm
by LUconn
look out behind you Chad! The redhead is going to destroy you!

Image

Posted: June 5th, 2008, 1:28 pm
by LUconn
Here's a funny blog post I found while looking for that picture. I had wondered what happened to the original fat sprint guy myself
It was right in front of my face for weeks, but I just noticed it last night!

You know the four nerdy cell phone guys from the commercials who try to one-up Chad from Alltel? Well, in the latest commercial - the one with the wizard -they mysteriously switched out the chubby Sprint guy and replaced him with some dude with a fro!

Being that I'm a Sprint customer, the chubby sprint guy was always my favorite. According to his MySpace page, Michael Busch, 28, who played the chubby Sprint guy, had contract concerns. Busch, star of the 2004 "hit" Nerd Hunter 3004 wrote:

"Basically, Alltel wanted to sign me (and the rest of the guys) through the end of 2008. Everyone else signed on except me. I didn't want to be known as that guy at the expense of other things I'd rather do, like TV and movies. It may not have hurt, but who knows. Also, Alltel was unable to offer a contract that addressed specific concerns my representation had with it. So, we decided it would be best to move on."

I'm sure you're as enthralled by all of this as I am. I think they should have had Chad kill off the Sprint guy to really close the book on him.


Anyway, in case you're curious, the new Jack Osbourne look-alike Sprint guy is apparently named Adam Herschman, bit player in such cinematic classics as Accepted, Walk Hard: The Dewey Cox Story and I now Pronounce you Chuck and Larry.

Posted: June 5th, 2008, 2:23 pm
by SuperJon
jcmanson wrote:I've been with Verizon for 6 years. I've never had a problem with service.
Except Verizon doesn't have digital service in Lynchburg. None of my friends with Verizon can get pictures and stuff like that here.

Hopefully, like Rocketfan says, they merge the two and service is great everywhere. However, I'm scared of how much it's going to cost.

Posted: June 5th, 2008, 2:51 pm
by jcmanson
SuperJon wrote: I'm scared of how much it's going to cost.
What’s your current plan?

Posted: June 5th, 2008, 2:54 pm
by SuperJon
Luckily I'm still on the family plan with my parents (mainly because it's a tax write-off with the business blah blah blah) but eventually I gotta pay my own. Graduating sucks.

Posted: June 5th, 2008, 2:57 pm
by Hold My Own
Verizon is talking to my parents about putting a tower on their property

Posted: June 5th, 2008, 2:59 pm
by SuperJon
The people at the top of my road at home had Alltel (now Windstream) put a DSL hub there. They're getting a good amount every year I think.

Posted: June 5th, 2008, 3:00 pm
by jcmanson
Check out Verizon's prices, I'm not sure what Alltel's are, but Verizon is very competitive.

Posted: June 5th, 2008, 3:08 pm
by Hold My Own
SuperJon wrote:The people at the top of my road at home had Alltel (now Windstream) put a DSL hub there. They're getting a good amount every year I think.

see if you can find out an amount...I'm trying to come up with a fair price for them...trying to work in some service too 8)

Posted: June 5th, 2008, 3:08 pm
by JDUB
My alltel plan runs out in august, and I am currently searching to decide what to do. this puts an interesting twist on things. like SJ, i am on a family plan and will probably stay on it through at least one more contract period. Did it give a date on when this will go into effect?

Posted: June 5th, 2008, 3:15 pm
by Hold My Own
JDUB wrote:My alltel plan runs out in august, and I am currently searching to decide what to do. this puts an interesting twist on things. like SJ, i am on a family plan and will probably stay on it through at least one more contract period. Did it give a date on when this will go into effect?


Ever google the Nextel/Sprint merger? It could be 2025 before it actually effects people...although it seems this will be smoother b/c of the network similarities

Posted: June 5th, 2008, 3:17 pm
by Fumblerooskies
I think they expect approval by the end of the year...
...and Supe makes Verizon's argument for them...no digital service in Lynchburg...they buy Alltel and get Alltel's network and towers with it. I suspect this is a merger much like AT&T and Cingular.

This also will stink for the Ryan Newman NASCAR team, b/c once they merge, he'll lose the Alltel sponsorship and will not be able to use the Verizon due to Sprint's exclusive deal with NASCAR.

Posted: June 5th, 2008, 3:27 pm
by LUconn
Well, nobody says they're gonna scrap Alltel. They're just goint to own them.

Posted: June 5th, 2008, 3:41 pm
by Fumblerooskies
One positive...perhaps the Alltel phone will be able to get the ESPN V-Casts.

Posted: June 5th, 2008, 3:56 pm
by ATrain
I'm still happy with US Cellular, and Joan, lol

Posted: June 5th, 2008, 3:59 pm
by thepostman
Hold My Own wrote:Verizon is talking to my parents about putting a tower on their property
i've read so many different times about a verizon tower going up around here ever since I game here 5 years ago...I now have AT&T, but had Verizon when I first got here and hated how it would randomly cut out around here...