“Linear TV is nothing we are looking at,” said Hans Vestberg, CEO, Verizon, the big telecom company, speaking at the Goldman Sachs Communacopia Conference this week.
Verizon’s content division Oath -- which includes Yahoo and AOL -- is a likely place for Verizon to grow content.
Vestberg added: “We have our own content, of course, when it comes to Oath, basically have what we call ... super channels from finance, entertainment, news, the home. All are creating a great possibility for us.”
Oath’s annual revenue is at $7 billion right now, according to estimates, with a goal of growing to $10 billion by 2020. Verizon said earlier this week Tim Armstrong, CEO Oath, would be departing.
When it comes to content -- including partnering with linear TV companies -- Vestberg says: “You are going to see us working differently, basing it on our fundamentals, which is the network for our customers and our distribution.”
Major competitors such as AT&T and others have heavily invested in TV content. AT&T just competed a $85.4 billion deal for Time Warner, with includes Turner ad-supported TV networks and HBO. AT&T already owns satellite TV provider DirecTV.
Earlier this year, Lowell McAdam, former chairman-CEO, Verizon -- now executive chairman, in speaking with Yahoo Finance, said: “The linear model is dead. ... It’s just going to take a long time to die.”