Verizon denies SpaceX is buying it [UPDATED]
The Verizon CEO is setting the stage for a SpaceX takeover.
Verizon has denied the claim. | Image by PhoneArena
Update from Jul 31, 2026:
Verizon has denied assertions that it's getting sold to SpaceX.
In regards to your story today implying Verizon will be sold to Starlink, we want to go on the record that this story is totally baseless and without merit.
Diana Alvear, Associate Director, Reputation and Risk Management, Verizon
The original story from Jul 30, 2026, follows below:
Verizon's relatively new CEO, Dan Schulman, may be doing some corporate housekeeping to prepare the telecom giant for a sale to SpaceX, according to a new report from Semafor.
Schulman roped in Alfonso Villanueva, who worked with him at his former company, PayPal, to join Verizon as Chief Transformation Officer in November. He also filled in as interim head of the Verizon Consumer Group when Sowmyanarayan Sampath left in February.
Getting its ducks in a row
Schulman roped in Alfonso Villanueva, who worked with him at his former company, PayPal, to join Verizon as Chief Transformation Officer in November. He also filled in as interim head of the Verizon Consumer Group when Sowmyanarayan Sampath left in February.
Villanueva has now officially stepped into the role of executive vice president of the consumer unit, which generates 78% of the company's revenue.
Meanwhile, the company has been laying off employees, raising speculation about a shift in direction.
Turns out, this might be more than just corporate restructuring. Schulman might be readying Verizon for a buyout, though the company has vehemently denied the claims.
Any assertion that Verizon is being positioned for a sale to SpaceX — or any other entity — is unequivocally false, unsubstantiated, and entirely without merit.
Verizon spokesperson, July 2026
It might be SpaceX
Schulman reportedly just wants to sell Verizon, whether to SpaceX or any other buyer. The CEO's go-to strategy is cutting costs, which some believe isn't sustainable for the long haul. And with his contract set to expire in 2028, Verizon's long-term well-being isn't necessarily his top priority.
On the other side of the table, CEO Elon Musk has been expanding his spectrum portfolio as he explores ways to enter the cellular industry. He could build a carrier from scratch, but that would be very expensive.
When asked in late 2025 whether he would want to buy Verizon, Musk didn't rule out the possibility.
Who should buy Verizon?
4530 Votes
SpaceX
39.56%
No one
36.23%
Anyone other than AT&T, T-Mobile, and SpaceX
24.22%
Three good quarters led to this
Schulman was brought in to right the ship after three straight quarters of customer losses. Under his watch, every quarter has seen the carrier gain new customers.
Verizon's revenue dipped 0.7% year-over-year, and net profit slid 22.9% in Q2. The company is also losing its historic dominance in network performance.
Verizon may be putting on a brave face, but it's clearly taking on water.
What's going on?
Take a breath, and another report on SpaceX's telecom ambitions pops up. Some say the company is buying spectrum as leverage to negotiate an MVNO deal with the Big Three, while others say it wants to build or buy its own network.
Despite recent headwinds, Verizon remains the nation's top carrier. Thus, it's not immediately clear why it would want to sell itself.
Explore how Verizon got here:
- The company had three disastrous quarters in 2025.
- Read about how Hans Vestberg was booted from the job.
- Check out why the SpaceX threat is real
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