NEW YORK May 20 Verizon's CEO Lowell
McAdam shot down rumors that the company was in potential merger
talks with satellite operator Dish Network on Tuesday,
days after rival AT&T announced plans to buy no 1. U.S.
satellite operator DirecTV.
"I know there are reports out there that we are talking to
Dish. I can tell you now, that is someone's fantasy. There were
not, and there are not, discussions going on with Dish," McAdam
told investors at the J.P. Morgan Global Technology, Media and
"I don't think owning a satellite company is something I'm
interested in at this point," he said adding the company's focus
was on over-the-top programming, meaning content utilized over a
network, but not offered by a network operator.
On Monday, speculation that Verizon and Dish were in talks
to merge pulled shares up at Dish.
AT&T's plans to purchase DirecTV raises questions about
Dish's next move. With 14 million subscribers, Dish trails
DirecTV and has spent billions for wireless spectrum it has yet
Dish's chief, Charles Ergen, has said he does not have the
cash to outbid AT&T for DirecTV. Dish tried to buy DirecTV in
2001 in a deal that was blocked by regulators.
(Reporting By Marina Lopes; Editing by Sofina Mirza-Reid)