Business
Verizon Defends New Cable Deals as Media Companies Complain
TALI ARBEL, AP Business Writers
JOSEPH PISANI, AP Business Writers
NEW YORK (AP) — Verizon is defending its new, cheaper cable packages that let customers choose groups of channels as media companies protest.
Francis Shammo, Verizon’s chief financial officer, said in a conference call Tuesday that the new packages are allowed “under our existing contracts.”
The plans were rolled out Sunday. They start at $55 a month for a basic tier of 35 channels that include broadcast networks and news as well as Food Network, HGTV and AMC. You also get two themed channel packs, such as sports or lifestyle channels.
ESPN, owned by The Walt Disney Co., objects to the new, more customizable option, saying ESPN and ESPN2 can’t be in a separate sports package according to its contract with Verizon. Fox Sports, owned by 21st Century Fox, says Verizon’s new packages also violate agreements and it will continue to talk with the company, according to an emailed statement. NBCUniversal, which is owned by cable company Comcast, also says the new FiOS deals violate agreements.
Media companies charge distributors such as Comcast’s cable arm, DirecTV and FiOS for the rights to carry their channels. Those fees are typically based on how many subscribers the channels have. By making a channel optional, Verizon can keep costs down and charge only the subscribers that want it.
“Most people only, on average, watch 17 channels,” said Shammo. “So this is a way to give consumers what they want.”
ESPN is by far the most expensive basic cable network for distributors, according to estimates from data provider SNL Kagan, while Fox Sports 1 and ESPN2 are also in the top 10.
Verizon Communications Inc. is the country’s largest wireless carrier as well as an Internet and TV provider. It said on Tuesday that it added 565,000 Verizon Wireless subscribers in the quarter, up 4.8 percent from the same quarter a year ago.
It added 133,000 FiOS Internet customers, up 36 percent from a year ago and 90,000 FiOS cable customers, up 58 percent from a year ago.
The New York company’s first-quarter net income came to $4.22 billion, or $1.02 per share. The average estimate by analysts polled by Zacks Investment Research was for earnings of 95 cents per share.
Revenue rose 4 percent to $31.98 billion in the period. Analysts expected $32.28 billion.
Verizon shares fell 13 cents to $49.25 afternoon trading Tuesday. Its shares are up more than 2 percent over the past year.
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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VZ at http://www.zacks.com/ap/VZ
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Keywords: Verizon Communications, Earnings Report, Priority Earnings
Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Activism
Oakland Post: Week of December 18 – 24, 2024
The printed Weekly Edition of the Oakland Post: Week of December 18 – 24, 2024
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Activism
BWOPA Honors Black Leadership and Legacy at 2024 Ella Hill Hutch Awards Dinner
On Dec. 5, BWOPA held its Annual Ella Hill Hutch Awards Ceremony, at the Fairmont Claremont Hotel in the Oakland/Berkeley Hills. At the event, the group comprised of Black women from various professional backgrounds, honored distinguished local and state leaders whose contributions have shaped civic engagement and advanced critical social issues impacting Black communities.
By Oakland Post Staff
Black Women Organized for Political Action (BWOPA) is a statewide non-profit advocacy and membership organization committed to solving problems affecting Black Californians.
On Dec. 5, BWOPA held its Annual Ella Hill Hutch Awards Ceremony, at the Fairmont Claremont Hotel in the Oakland/Berkeley Hills.
At the event, the group comprised of Black women from various professional backgrounds, honored distinguished local and state leaders whose contributions have shaped civic engagement and advanced critical social issues impacting Black communities.
The evening was hosted by Dr. Shawna Charles, founder of The Charles Communications Group (CCG) headquartered in Los Angeles. Charles served as mistress of ceremonies.
With a track record of elevating voices and empowering communities, Charles’ leadership and insight brought a certain dynamism to the celebration.
“Each year, this event not only celebrates the enduring legacy of our beloved BWOPA founding member, Ella Hill Hutch, but also reaffirms and amplifies our unwavering commitment to building and sustaining Black political power across California,” said Dezie Woods-Jones, BWOPA founding member and State president.
“Ella Hill Hutch’s trailblazing leadership continues to inspire us as we forge ahead, empowering Black women to lead, advocate, and shape a more equitable future for all,” added Woods-Jones.
This year’s event introduced the DWJ Rising Star Award, honoring young leaders like Solano County Board Supervisors-elect Cassandra James, Danielle Motley-Lewis, Naomi Waters and newly elected State Assemblymember elect Rhodesia Ransom (D-Stockton).
According to organizers, the awardees all exemplify “the next generation of changemakers.”
Other awardees included:
- Lifetime Achievement Awardees: Congresswoman Barbara Lee (D-CA-12) and Alameda County Supervisor Keith Carson
- Man of the Year: Kenneth Maxey, CEO of the Greater SF Bay Area Urban League
- President’s Corporate Award: Yvette Radford, Kaiser Permanente
- In the Spirit of Ella State and Chapter Awards: Dr. Carolyn Greene, Dr. Marcella K. Smith, Dr. Carolyn Drake, Tinisch Hollins, Jackie Jones, Gloria Burgess Johnson, Tamika L’Ecluse, Ellen Nash, Betty Reid Soskin, and Ay’Anna Moody.
BWOPA also celebrated local champions across its chapters, including leaders in voter education, healthcare, criminal justice reform, and community advocacy.
In a statement, BWOPA said, “Honoring Ella Hill Hutch’s legacy, BWOPA recognizes her pioneering efforts as the first Black woman elected to the San Francisco Board of Supervisors. Her tireless work amplifying underrepresented voices continues to inspire BWOPA’s mission to build Black political power across California.”
“We extend our heartfelt thanks to our members, partners and allies who believe in BWOPA’s vision to invest in building power for Black women’s leadership,” said LaNiece Jones, BWOPA State executive director. “Your support ensures that Black women have a voice at decision-making tables locally, regionally, statewide, and nationally, advancing diversity and equity in leadership spaces.”
Activism
Council of Islamic Relations Applauds Alameda County Decision to Divest $32M from Caterpillar
The divestment from Caterpillar, a company criticized for its human rights abuses globally—including the destruction of Palestinian homes, infrastructure, and agriculture, as well as in the U.S. prison-industrial complex, border militarization, and immigration detention centers—is a significant step in ensuring that Alameda County’s financial resources do not perpetuate harm.
Special to The Post
The San Francisco Bay Area office of the Council on American-Islamic Relations (CAIR-SFBA), the nation’s largest Muslim civil rights and advocacy organization, this week welcomed the Alameda County Board of Supervisors’ decision to divest $32 million in public funds from Caterpillar and unanimously commit to adopting an ethical investment policy.
The Board’s decision follows months of advocacy by Bay Area Divest!, a coalition of community organizations calling for accountability in public investments.
The divestment from Caterpillar, a company criticized for its human rights abuses globally—including the destruction of Palestinian homes, infrastructure, and agriculture, as well as in the U.S. prison-industrial complex, border militarization, and immigration detention centers—is a significant step in ensuring that Alameda County’s financial resources do not perpetuate harm.
In November, CAIR welcomed the reported freeze on the delivery of bulldozers to Israel as an “implicit admission” by the Biden Administration that the far-right Netanyahu government is using that equipment in the ethnic cleansing of Gaza.
CAIR-SFBA Policy Coordinator Musa Tariq said:
“This is a historic moment for Alameda County, demonstrating the power of community advocacy and the County’s leadership in ethical governance. The decision to divest from Caterpillar sends a clear message that public funds should not support corporations complicit in human rights violations.”
In addition to divesting from Caterpillar, the Board voted to move forward with developing a comprehensive Ethical Investment Policy, recommended by District 5 Supervisor Keith Carson.
This policy will include criteria to exclude “investments in industries, corporations, or governments that perpetuate harm to communities and the planet,” such as fossil fuel extraction, weapons production, and entities involved in war crimes, apartheid, and other severe human rights violations.
Alameda County has a proud legacy of socially responsible investment. In 1985, the County divested from South Africa to protest apartheid, and in 1996, it barred investments in companies doing business with Burma due to human rights abuses.
“This forward-thinking policy positions Alameda County as a leader in socially responsible investing,” added Tariq. “By committing to craft the policy within 90 days and implement it within six months, the County has set an ambitious and commendable timeline.”
CAIR-SFBA is an office of CAIR, America’s largest Muslim civil liberties and advocacy organization. Its mission is to enhance the understanding of Islam, protect civil rights, promote justice, and empower American Muslims.
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