GOVERNOR CORZINE SIGNS
CABLE FRANCHISE LEGISLATION AND OPENS
NEW JERSEY’S CABLE TV MARKET TO COMPETITION
Verizon Announces $1.5 Billion Investment to
Bring State-of-the-Art Fiber Directly to Homes and Business
Company Will Build Major Video Hub Office in Freehold, NJ
The 30-year-old cable monopoly is ended.
It became official late Friday, August 4th, 2006, when Governor Jon S. Corzine signed a bill into law that streamlines the process for obtaining video franchises in the state.
Following the bill signing, Verizon announced it is moving ahead with a $1.5 billion investment over the next three years for the construction and deployment of its state-of-the-art fiber network in New Jersey.
“New Jersey’s new law allowing us to offer television service in the state provides all the justification we need to go full speed ahead to bring fiber optics directly to customers – something no other company is doing,” said Ivan Seidenberg, Verizon’s chairman and CEO. “Gov. Corzine and the state Legislature deserve full credit for throwing open the door to television competition in New Jersey and new TV choices for consumers in the state.”
“Today’s announcement will make New Jersey one of the most ‘fibered’ states in the nation, and we fully expect these new franchise rules will open the door to even more competitors,” said Dennis Bone, president, Verizon New Jersey. “We will strive to bring this network to as many communities and consumers as quickly as possible.”
As a result of this enhanced deployment, Verizon expects to have its industry-leading video network available to three and-a-half million residents by the end of 2008. The first locations will be opened for sale by the end of this year.
As part of Verizon’s plans, the company made the following announcements:
Verizon will substantially increase FiOS video availability in New Jersey. The company plans to invest $1.5 billion in Verizon’s fiber network that will bring cable choice and competition quickly to hundreds of municipalities in the state. As Verizon considers deployment of available investment resources throughout its service territory, areas with a clear path to television franchises will be a priority.
Verizon will add jobs and bring savings and better services to consumers. Verizon currently has more than 1,000 technicians building the FTTP network around the state. As a result of New Jersey’s streamlined franchise rules, the company expects the accelerated deployment will lead to hundreds of additional jobs in New Jersey. In addition, experts have estimated that competition in the cable TV market is expected to result in more than $200 million a year in consumer savings, as well as more choices and improved services.
Verizon is building a major video hub office in Freehold, NJ. This high-tech video control center will be the primary facility to transmit all video services in most of the state. The multi-million-dollar center will collect the video feed off the company's national fiber-optic video ring and then blend in local channels (network affiliates, public access channels, etc.) to complete the overall FiOS TV product within the region.
The company will notify additional customers when FiOS is available locally. Customers who want to determine whether they can order FiOS also can call 888-GET FIOS (888-438-3467)
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Guest Message by DevFuse
Wave Goodbye NJ Cable, Verizon Is Here!
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Posted 07 August 2006 - 04:36 PM
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