Verizon CEO says no need to buy DIRECTV

NEW YORK Fri Dec 11, 2009 2:22pm EST

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NEW YORK (Reuters) - Verizon Communications Inc (VZ.N) has no need to buy DIRECTV (DTV.O), the company's Chief Executive said on Friday in response to a question about recent speculation the Verizon might buy the satellite TV provider.

"There's nothing to that," Seidenberg told Reuters on the sidelines of a Nasdaq conference about corporate governance. "We don't have any strategic need."

He noted that DIRECTV is a good partner to Verizon, which is building out a video service and does not have nationwide coverage, unlike DirecTV.

Liberty Media Corp LINTA.O LCAPA.O LSTZA.O recently split off DIRECTV, fueling speculation that a big telephone company marketing partner like Verizon or AT&T Inc (T.N) could buy the satellite provider.

(Reporting by Sinead Carew, editing by Gerald E. McCormick)