Verizon CEO: We Don't Need To Buy DirecTV

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Verizon Communications CEO Ivan Seidenberg on Friday swatted down speculation that the telco will buy DirecTV, saying the telco had no "strategic need" to do so.
"There's nothing to that. We don't have any strategic need," Seidenberg said, according to a Reuters report from a NASDAQ conference about corporate governance.
Speculation that DirecTV would be acquired by either AT&T or Verizon has been spurred by Liberty Media's recent spinoff of Liberty Entertainment, which contributed Liberty Media's 57% interest in DirecTV to an entity that was merged with the satellite giant. That created a new stock of the remaining assets, called Liberty Starz.
Analysts have speculated that the transaction could pave the way for AT&T or Verizon to acquire DirecTV, by simplifying its ownership structure.
Meanwhile, DirecTV's appointment last month of former PepsiCo International CEO Michael White as chief executive also prompted analysts to suggest he may be a placeholder preceding a sale of the satellite provider.
Verizon resells DirecTV service as part of a "synthetic bundle" in areas where it doesn't offer FiOS TV. Neither company discloses how many Verizon customers take DirecTV service.
As of Sept. 30, the telco's FiOS network passed 14.5 million premises and served 2.7 million FiOS TV subscribers.

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