NYNEX Corporation
TypePublic
NYSE: NYN[1]
IndustryTelecommunication
PredecessorAmerican Telephone and Telegraph Company
Founded1984 (1984)
Defunct1997 (1997)
FateMerged with Bell Atlantic
(Now Verizon)
SuccessorBell Atlantic (Now Verizon)
HeadquartersNew York City, United States
ProductsLocal telephone service
Cellular telephone service
SubsidiariesVerizon New England
Verizon New York
Corporate HQ, 1095 Avenue of the Americas

NYNEX Corporation /ˈnaɪnɛks/ was an American telephone company that served five states of New England (Maine, Massachusetts, New Hampshire, Rhode Island and Vermont) as well as most of the state of New York from January 1, 1984 to August 14, 1997.

History

Formed on January 1, 1984 as the result of the breakup of the Bell System, NYNEX was a Regional Bell Operating Company which was made up of former subsidiaries of AT&T, these being New York Telephone and New England Telephone. The name NYNEX was an acronym for New York and New England while X represented "the future".[2][3][4][5]

Bell Atlantic

NYNEX merged with Bell Atlantic on August 14, 1997, in what was at the time the second-largest merger in corporate history in America.[6][7] Although the surviving company was Bell Atlantic, the merged company moved from the headquarters of Bell Atlantic in Philadelphia to the headquarters of NYNEX in New York City.[8][9]

Bell Atlantic acquired GTE on June 30, 2000 to form Verizon Communications, the merger being first announced in April 2000.[10][11] NYNEX also operated cable television and telephone services in the United Kingdom with offices in Waterlooville (Hampshire), Baguley (Manchester), Shoreham-by-Sea (West Sussex), Leatherhead (Surrey) and Antrim (Northern Ireland).

Virgin Media

In 1996, NYNEX's UK assets were merged with the subsidiary of Cable & Wireless, Mercury Communications, as well as cable operators Vidéotron and Bell Cablemedia, and the new business was subsequently renamed Cable & Wireless Communications.[12][13]

Cable & Wireless’ cable assets were sold to NTL in July 1999.[14][15] The acquisition was completed in May 2000.[16][17] NTL then merged with Telewest in March 2006 to form NTL:Telewest, and was later rebranded on February 8, 2007 as Virgin Media.[18][19][20]

Criticism

The State of New York impounded $4.1 million of regulated fees collected by NYNEX in August 1996 for failing to meet specific service metrics that had been set by the public utility commission in its order setting service rates.[21][22]

In 1995, the state of New York proposed a new turnaround plan intended to help NYNEX improve its customer service. However, there were concerns that it would not work and that the rate reductions proposed by the plan would be too inconsistent.[23]

See also

References

  1. ↑ "Bell Atlantic and NYNEX Agree to Merger of Equals". verizon.com. 1996-04-22.
  2. ↑ "CASSATA v. NEW YORK NEW ENGLAND EXCHANGE". caselaw.findlaw.com. 21 May 1998. Retrieved 4 November 2020.
  3. ↑ "Verizon Corporate Offices – Lower Manhattan, NY – 2012". themuseumoftelephony.wordpress.com. 1 March 2015. Retrieved 4 November 2020.
  4. ↑ "LI architecture icon dies". libn.com. 22 January 2018. Archived from the original on 23 January 2018. Retrieved 4 November 2020.
  5. ↑ "Can You Hear Him Now? Leadership Lessons from Verizon's Ivan Seidenberg". knowledge.wharton.upenn.edu. 15 July 2009. Retrieved 4 November 2020.
  6. ↑ Mills, Mike (23 April 1996). "Bell Atlantic and Nynex Accept $27 Billion Merger; New Telco Rivals AT&T". tech.mit.edu. Retrieved 15 April 2012.
  7. ↑ "DIAL "M" FOR MERGER". www.wsj.com. 22 April 1996. Archived from the original on 4 January 2012. Retrieved 4 November 2020.
  8. ↑ Adelman, Jacob (18 April 2017). "Verizon fades from forerunner's namesake Philly tower, as rival Comcast's presence grows". inquirer.com. Retrieved 4 November 2020.
  9. ↑ Landler, Mark (8 September 1997). "Nynex Is Gone, But Its Name Has Yet to Go". nytimes.com. Retrieved 21 June 2021.
  10. ↑ Schiesel, Seth (4 April 2000). "Bell Atlantic and GTE Pick Post-Merger Name". nytimes.com. Retrieved 4 November 2020.
  11. ↑ Schiesel, Stephen Labaton (17 June 2000). "F.C.C. Approves Bell Atlantic-GTE Merger, Creating No. 1 Phone Company". nytimes.com. Retrieved 4 November 2020.
  12. ↑ Cauley, Leslie; Calian, Sara (23 October 1996). "Cable & Wireless Plans Merger With Nynex, Bell Canada Units". www.wsj.com. Retrieved 8 December 2019.
  13. ↑ "Form 10-K405 Nynex Corp". sec.report. 27 March 1997. Archived from the original on 11 October 2021. Retrieved 3 March 2021.
  14. ↑ Staff, MediaTel (26 July 1999). "NTL Spends £8.2bn On Cable & Wireless Communications". mediatel.co.uk. Retrieved 4 November 2020.
  15. ↑ Bannister, Nicholas (27 July 1999). "NTL buys CWC for £8.17bn". theguardian.com. Retrieved 4 November 2020.
  16. ↑ "Cable & Wireless PLC (CW.)". investegate.co.uk. 17 May 2000. Retrieved 4 November 2020.
  17. ↑ "CWC/NTL: Competition Commission clears merger". cms-lawnow.com. 23 March 2000. Retrieved 4 November 2020.
  18. ↑ "NTL Inc (NTL)". investegate.co.uk. 4 April 2006. Retrieved 4 November 2020.
  19. ↑ Sweney, Mark (2 February 2007). "NTL pushes Virgin Media rebrand". theguardian.com. Retrieved 4 November 2020.
  20. ↑ Banham, Mark (8 November 2006). "NTL Telewest and Virgin Mobile combine as Virgin Media". campaignlive.co.uk. Retrieved 4 November 2020.
  21. ↑ Hernandez, Raymond (23 August 1996). "Nynex Fined $4.1 Million For a Year of Poor Service". The New York Times. Retrieved 15 April 2012.
  22. ↑ Feiden, Douglas (29 April 1996). "Nynex Flunks Out Service Gets An F". NY Daily News. Retrieved 15 April 2012.
  23. ↑ "A Poor Plan for Nynex". The New York Times. 1 June 1995. Retrieved 15 April 2012.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.