Verizon CEO Open to Working With Elon Musk's Starlink, But There’s One Deal He Won’t Touch: ‘No Benefit Whatsoever’

Key takeaways

• Verizon will not let Starlink use its network under an MVNO deal, citing high costs and a strong competitive edge, even as it sees satellite as a useful complement for remote areas.
• $1.31
  EPS

  Earnings per share — profit for one share of the company, in dollars.

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• $34.31B revenue
• $34.74B consensus

What happened

Verizon CEO Dan Schulman said the company sees value in partnering with satellite services like Elon Musk’s Starlink for remote coverage, but will not allow Starlink to use Verizon’s network under a mobile virtual network operator agreement. He warned that SpaceX would need to build 65,000‑80,000 terrestrial sites and spend $300‑$500 billion over 7‑8 years to compete, and that Verizon would aggressively counter any such entry. Verizon’s Q3 earnings beat expectations with $1.31 per share and…

Why it matters

The comments clarify Verizon’s stance on satellite partnerships and set a clear boundary against MVNO access for Starlink, which could influence competitive dynamics in rural connectivity. The cost and scale estimates for SpaceX’s terrestrial buildout highlight the high barrier to entry, reinforcing Verizon’s market…

Short-term and longer-term

Short-term. Verizon shares dipped 3.5% after the CEO’s remarks, reflecting market concern that satellite competition could erode Verizon’s rural coverage advantage.

Longer-term. The CEO’s comments reinforce Verizon’s defensive posture against satellite entrants, suggesting that the company’s core network remains a strong moat.