Verizon Spends Big on FIOS
Roger Cheng writes in The Wall Street Journal that Verizon wil continue to spend big bucks (as in over $15 BILLION a year for the next couple of years) on it fiber to the home (FIOS) rollout, as well as other projects.
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Verizon Communications (VZ) is on pace to spend $15.3 billion in capital investments this year, and will invest roughly $15.4 billion to $15.7 billion in 2006, said Chief Financial Officer Doreen Toben.
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“There is the opportunity for broadband to grow significantly,” she said. “For years to come, you will see broadband growing quickly.”
Verizon will pass 3 million homes with its fiber network by the end of the year. It launched its FiOS video service in Keller, Texas, and will have the service up in at least five additional markets by the end of the year. The rollout should accelerate in 2006, she said.