Verizon is Abandoning Its FiOS TV & Internet Service

Bad news for high speed internet in the US. Lowell McAdams, Verizon’s CEO, announced that Verizon will end its active development of FiOS television and internet services. Verizon will maintain its existing markets, but will no longer be investing in expansion of the FiOS network.

Verizon would rather spend its money expanding its wireless business instead of the expensive costs associated with building out the FiOS infrastructure.

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