One less thing to worry about.
Back in October the credit crisis was so severe that there were worries about the ability of financially robust Verizon Wireless to
get financing for its strategically sound $28.2 billion acquisition of Alltel Corp. But a Saturday report in the Arkansas Democrat-Gazette, citing a regulatory filing by Verizon, says the deal for Little Rock-based Alltel will
close on Jan. 9.
Now Arkansans are awaiting details on integration plans and the moves Verizon will make to realize a projected
$9 billion in synergies. Though a call center is expected to remain in place, the paper says 1,000 out of 2,900 jobs in Pulaski County could be eliminated or sent out of state.
And what about
Alltel Arena, where Alltel is in year 10 of a 20-year deal for naming rights? It might be hard to make a change in time for the big AC-DC concert on Jan. 28. But with the Alltel brand set to be retired, the arena name looks like a little pocket of value to be exploited, whether by selling rights to another party or renaming it Verizon Wireless Arena. -
Kenneth Klee
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