The below is an April Fools Day post. Hopefully you find it as funny as we did!

FOR IMMEDIATE RELEASE

Verizon Acquires PhilTel, Reentering the Payphone Market and Strengthening Community Connectivity

Philadelphia, PA – April 1 2025 – Verizon Communications Inc. (NYSE: VZ), a leading global telecommunications provider, today announced the acquisition of PhilTel, a Philadelphia-based telephone collective specializing in providing free-to-use payphones across the city. This acquisition marks Verizon’s reentry into the payphone market, a space it exited in 2012, while strengthening its commitment to providing affordable and inclusive communication solutions to underserved communities.

PhilTel operates a network of public, free-to-use payphones that serve as a vital communication resource for Philadelphia residents, particularly in areas where access to mobile phones or traditional landlines may be limited. Through this acquisition, Verizon plans to leverage its advanced technologies and infrastructure to enhance PhilTel’s services, ensuring that Philadelphia continues to benefit from reliable and accessible public telecommunication resources.

“We’re excited to welcome PhilTel into the Verizon family,” said Hans Vestberg, Chairman and CEO of Verizon. “This acquisition not only allows us to reenter the payphone market but also helps us further our mission of providing accessible communication tools to everyone, regardless of their socio-economic status. PhilTel’s focus on free-to-use payphones is a perfect complement to our commitment to serve communities in need.”

Verizon’s exit from the payphone market in 2012 was part of a broader shift in the telecommunications industry toward mobile and internet-based solutions. However, as the need for accessible public communication resources remains, Verizon has been seeking the right opportunity to re-enter this space in a meaningful way. “We’ve been looking for the right moment to bring payphones back into our network,” said Randy Milch, Executive Vice President and Chief Administrative Officer at Verizon. “Payphones have long been a vital part of public infrastructure, and while the world has changed dramatically, the need for accessible communication in underserved areas remains just as important. PhilTel’s community-based approach is exactly what we’ve been looking for to help reconnect these resources with modern technology.”

PhilTel’s work in providing free public access to communication services presents an important opportunity to revisit this space in a way that benefits underserved populations. By integrating PhilTel’s network into Verizon’s broader infrastructure, the company intends to modernize and expand the availability of payphones, incorporating newer technologies while maintaining the community-oriented ethos PhilTel has fostered.

“We are thrilled to join forces with Verizon to continue our work in providing free access to telecommunication services for those who need it most,” said Samantha Rivera, Executive Director of PhilTel. “This partnership will not only allow us to expand our network but also ensure that Philadelphia’s most vulnerable residents continue to have access to vital communication tools.”

Under the terms of the acquisition, Verizon will integrate PhilTel’s operations into its broader network, while preserving the collective’s focus on providing free public access to payphones. The transaction is expected to close in the second quarter of 2025, subject to customary regulatory approvals.

About Verizon Communications Inc.

Verizon Communications Inc. (NYSE, Nasdaq: VZ) is a global leader in communications, technology, and entertainment. Verizon’s comprehensive portfolio includes wireless and broadband services, as well as IoT, cloud, and security solutions for businesses and consumers worldwide. With a commitment to sustainability and innovation, Verizon is focused on delivering the highest-quality services to help build a connected and inclusive future.

About PhilTel

PhilTel is a Philadelphia-based telephone collective specializing in providing free-to-use payphones across the city. The collective’s mission is to offer equitable access to communication services, particularly for underserved and marginalized communities. PhilTel’s network of payphones plays a critical role in ensuring that all Philadelphia residents, regardless of income or access to mobile phones, have the ability to stay connected.