Verizon FiOS, a division of Verizon Communications Inc. (VZ), has collaborated with SEC Network and expects to air the latter’s services on its Channels 75 and 575, effective today.
Post-launch, the service will be available on these channels to all FiOS TV customers in Florida and Texas who can access ESPN as part of their FiOS TV package and to FiOS Extreme and Ultimate customers on Channel 75 in all other markets. Given the collaboration with Verizon FiOS, SEC Network will be available to 62 million households nationwide.
In FiOS, Verizon expects to drive higher penetration in existing markets and continue to differentiate itself with FiOS Quantum and the superior quality of its video services. To support its next generation video services, in Jan 2014, Verizon entered into an agreement with Intel Corporation to acquire OnCue – a unit of Intel that offers Cloud TV products and services.
Verizon is focused on improving long-term profitability through product streamlining and process simplification initiatives as well as cost management actions. The company’s enterprise division offers novel and advanced business technology solutions to a number of corporations and organizations, including American Tower Corp. (AMT), d’Amico Societa di Navigazione, the District of Columbia, Marathon Petroleum Corp. (MPC), Panviva and Veolia Environnement.
In the enterprise space, Verizon expects to aggressively promote key platforms like cloud, security, machine-to-machine and video delivery services. In addition, the company intends to strengthen its strategic services with the development of a new cloud services product suite. The launch of a mobile healthcare platform and targeted acquisitions are expected to enhance its capabilities in mobile video delivery.
Verizon currently has a Zacks Rank #3 (Hold).
Other Stocks
Better-ranked stocks in this sector include Nippon Telegraph and Telephone Corp. (NTT) with a Zacks Rank #2 (Buy).
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