Verizon Boss Hangs Up on Landline Phone Business

Ivan Seidenberg, the chief executive of Verizon Communications - one of the largest descendants of the old Bell System -- said his company is simply no longer concerned with telephones that are connected with wires. Not only does Verizon control the largest mobile phone company in the country, it has also largely moved away from copper wires. Verizon is selling off most of its operations in rural areas and is spending billions to wire most of the rest of its territory with its fiber optic network, or FiOS. FiOS, of course, offers voice calling as well as video and Internet service, but from now on, traditional phone service will be more of an add-on than the centerpiece of Verizon's offerings to consumers (much as voice service is treated today by cable firms).