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VERIZON COMMUNICATIONS

(VZ)
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Verizon Communications : to pay $2.25 billion to NFL for five-year streaming deal

12/11/2017 | 12:54pm EDT
FILE PHOTO: The Verizon store in Superior

NEW YORK (Reuters) - Verizon Communications Inc will pay around $2.25 billion for a five-year partnership with the National Football League that allows users to stream games on its Yahoo and go90 platforms as well as on mobile devices, a source told Reuters on Monday.

Under the partnership, Verizon renews its agreement to stream NFL games on its mobile devices but loses its exclusive rights to the airings.

Representatives from Verizon and the NFL declined to comment on the financial terms of the deal but the No.1 U.S. wireless carrier said the deal will go into effect in January with streaming of NFL playoff games on Yahoo and Yahoo Sports, in addition to the go90 streaming platform and the NFL mobile app.

The partnership will also include mobile access to jointly-developed original content, Verizon said.

Jennifer Fritzsche, analyst at Wells Fargo, said in a research note that the deal shows how Verizon is trying to expand its mobile advertising platform. In June, Verizon bought Yahoo's core assets for $4.48 billion and combined it with AOL to form its Oath business.

"With the recent consolidation of these properties in the Oath division, we would expect this to take on more of a growing focus for (Verizon) in 2018," Fritzsche said.

Verizon estimates that it reaches more than 200 million U.S. monthly unique mobile and digital users. The company has said its goal for Oath is to contribute $20 billion in revenue by 2020.

Verizon shares were up 0.4 percent to $51.27 in morning trading.

(Reporting by Alana Wise, Jessica Toonkel, Munsif Vengattil and Anjali Athavaley; Editing by Peter Cooney and Marguerita Choy)


ę Reuters 2017
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Financials (USD)
Sales 2021 135 B - -
Net income 2021 21 874 M - -
Net Debt 2021 144 B - -
P/E ratio 2021 10,6x
Yield 2021 4,55%
Capitalization 231 B 231 B -
EV / Sales 2021 2,77x
EV / Sales 2022 2,72x
Nbr of Employees 132 200
Free-Float 96,5%
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Verizon Communications Technical Analysis Chart | VZ | US92343V1044 | MarketScreener
Technical analysis trends VERIZON COMMUNICATIONS
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Mean consensus HOLD
Number of Analysts 30
Last Close Price 55,72 $
Average target price 60,58 $
Spread / Average Target 8,73%
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Managers and Directors
Hans Erik Vestberg Chairman & Chief Executive Officer
Matthew D. Ellis Chief Financial Officer & Executive Vice President
Kyle J. Malady Chief Technology Officer & Executive VP
Shankar Arumugavelu Global Chief Information Officer
Craig Silliman Chief Administrative & Legal Officer, Executive VP
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