Does Verizon Own Sprint in 2024? Unpacking the Wireless Carriers‘ Histories
As an expert on the U.S. wireless carrier industry, one of the top questions I‘m asked is: Does Verizon own Sprint?
This guide will offer in-depth analysis and insights to answer this question from every angle. With wireless megamergers making big waves recently, there‘s a lot of confusion around which brands fall under the nation‘s top telecom giants.
We‘ll explore Verizon and Sprint‘s backgrounds, acquisitions timelines, subscriber metrics, network technology, and more. Let‘s dive in!
History and Profile of Verizon and Sprint
First, let‘s review Verizon and Sprint‘s key historical events and company details:
| Company | Verizon | Sprint |
|---|---|---|
| Year Founded | 2000 | 1899 |
| Key Mergers and Acquisitions | Bell Atlantic and GTE (2000), MCI (2005), Alltel (2009), AOL (2015), Yahoo (2017), TracFone (2021) | Nextel (2005), Clearwire (2008), T-Mobile (2020) |
| Headquarters | New Jersey | Kansas |
| CEO | Hans Vestberg | Mike Sievert |
| Subscribers | ~125 million | ~110 million (merged with T-Mobile) |
| Annual Revenue | $131.9 billion (2021) | $80 billion (merged with T-Mobile) |
| Network Technology | 3G, 4G LTE, 5G | 3G, 4G LTE, 5G |
This comparison shows two wireless giants who have grown tremendously via mergers and acquisitions over their long histories.
Next let‘s explore whether their timelines suggest a Verizon/Sprint deal…
Has Verizon Ever Acquired or Tried to Acquire Sprint?
While they serve millions of U.S. wireless subscribers on advanced high-speed networks, Verizon and Sprint have always operated as distinct companies with separate parent organizations.
They‘ve never directly merged, though over the years there‘s been speculation about whether an acquisition deal would materialize.
Let‘s walk through a timeline of notable events:
| Year | Event |
|---|---|
| 2005 | Sprint merges with Nextel in $35 billion deal |
| 2006 | Speculation of a Verizon bid for Sprint emerges but does not materialize |
| 2008 | Google explores Sprint bid but drops it due to regulatory concerns |
| 2018 | Sprint and T-Mobile agree to $26 billion merger deal |
| 2020 | T-Mobile completes Sprint merger acquisition after court approval |
Given T-Mobile just spent $26 billion on acquiring Sprint in 2020 after a lengthy regulatory review, a subsequent purchase of Sprint by Verizon seems unlikely.
T-Mobile will aim to leverage Sprint‘s spectrum and infrastructure to strengthen their position as the #3 U.S. carrier competing with AT&T and Verizon.
How Do Verizon and Sprint Compare in 2024?
Now that we‘ve established Verizon does not own Sprint in 2024, how do the two carriers compare from a competitive standpoint?
The recently merged T-Mobile/Sprint entity and Verizon arealternatives for U.S. wireless subscribers. Here‘s how they currentlystack up:
| Area | Verizon | T-Mobile/Sprint |
|---|---|---|
| Subscribers | 125+ million | ~110 million |
| 5G Coverage | Available for 200 million Americans as of 2022 | Extended to 260 million Americans after Sprint merger |
| Network Reliability | Most reliable network with surveys showing better call, text, and data reliability | Steadily improving after deploying Sprint‘s mid band spectrum |
| Rural Coverage | Offers wider coverage with 93% population coverage | Significantly expanded rural coverage from Sprint acquisition |
| Plan Cost | $35/month entry for core unlimited plans | Starts at $15/month for discounted unlimited options |
| Perks | Disney+, Apple Music, and mobile hotspot data among plan perks | Netflix, in-flight wi-fi, and international roaming perks |
The new combined T-Mobile/Sprint aims to leverage the infrastructure and spectrum assets from both companies to offer enhanced 5G networks with wider coverage to better compete with AT&T and Verizon in all markets.
Over time, analysts project their 5G service could equal Verizon‘s benchmark network quality. However, Verizon maintains advantages in overall reliability and rural coverage for now.
Meanwhile, T-Mobile/Sprint promotes discount unlimited plans and plan perks as incentives versus Verizon‘s premium reputation and customer service as differentiators.
The two will continue aggressively courting subscribers with competing strategies. But Verizon retains its leadership position for the present time.
Could Verizon Purchase Sprint/T-Mobile Down the Road?
In the world of telecom, anything can happen long-term. But after finally succeeding in their merger quest, T-Mobile seems unlikely to turn around and sell off Sprint’s assets to Verizon soon after.
However, if T-Mobile were to struggle merging these complex organizations, offers could one day materialize. But most analysts view this scenario as a long shot over the next 5-10 years unless market positions markedly shift.
T-Mobile and Verizon themselves have been rumored merger prospects in the past to dethrone market leader AT&T. While again improbable soon, some analysts see a future joint venture as plausible for the right incentives.
For now, we can expect Verizon, AT&T, and T-Mobile/Sprint to continue aggressively competing for subscribers with promotions, perks, cross-brand advertising, and buildouts enhancing their advanced 5G networks.
The Verdict: No, Verizon Does Not Own Sprint in 2024
In summary, while Verizon looked into buying Sprint in the mid-2000s, a deal never manifested between the two wireless giants.
With Sprint officially merging with T-Mobile as of 2020 after a yearslong regulatory approval quest, it is definitively not owned by Verizon presently or for the foreseeable future.
But the two networks are undeniably competitors across all U.S. consumer and enterprise wireless market segments through early 2023!
I hope this complete analysis answers whether Verizon owns Sprint with insightful research detailing these wireless carriers‘ histories, mergers, statistics, and outlooks. Let me know if you have any other industry questions!
