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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): December 22, 1999
BELL ATLANTIC CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 1-8606 23-2259884
(State or other jurisdiction (Commission file number) (I.R.S. employer
of incorporation) identification no.)
1095 Avenue of the Americas
New York, New York 10036
(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code: (212) 395-2121
Not applicable
(Former name or former address, if changed since last report)
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Item 5. Other Events
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Attached as an Exhibit is a press release issued by Bell Atlantic Corporation on
December 22, 1999 announcing that the Federal Communications Commission has
approved our application to offer long distance service in New York.
In a telephone conference with members of the media and analysts on December 22,
1999, in connection with the announcement, we stated that:
. we are targeting one million customers in 2000; and
. we expect to win 25 to 30 percent of the consumer long distance market in the
region in five years.
Cautionary Statement Concerning Forward-Looking Statements
In this Current Report on Form 8-K, we have made forward-looking statements.
These statements are based on our estimates and assumptions and are subject to
risks and uncertainties. Forward-looking statements include the information
concerning our possible or assumed future results of operations. Forward-looking
statements also include those preceded or followed by the words "anticipates,"
"believes," "estimates," "hopes" or similar expressions. For those statements,
we claim the protection of the safe harbor for forward-looking statements
contained in the Private Securities Litigation Reform Act of 1995.
The following important factors could affect future results and could cause
those results to differ materially from those expressed in the forward-looking
statements:
. materially adverse changes in economic conditions in the markets served by us
or by companies in which we have substantial investments;
. material changes in available technology;
. the final outcome of federal, state, and local regulatory initiatives and
proceedings, including arbitration proceedings, and judicial review of those
initiatives and proceedings, pertaining to, among other matters, the terms of
interconnection, access charges, universal service, and unbundled network
element and resale rates;
. the extent, timing, success, and overall effects of competition from others
in the local telephone and toll service markets;
. the timing and profitability of our entry into the in-region long distance
market;
. the success and expense of our remediation efforts and those of our
suppliers, customers, joint ventures, noncontrolled investments, and
interconnecting carriers in achieving Year 2000 compliance;
. the timing of, and regulatory or other conditions associated with, the
completion of the merger with GTE and our ability to combine operations and
obtain revenue enhancements and cost savings following the merger; and
. the timing of, and regulatory or other conditions associated with, the
completion of the wireless transaction with Vodafone AirTouch, and the
ability of the new wireless enterprise to combine operations and obtain
revenue enhancements and cost savings.
Item 7. Financial Statements and Exhibits
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(c) Exhibits
Exhibit
Number
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99 Press Release, dated December 22, 1999, issued by Bell Atlantic.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
BELL ATLANTIC CORPORATION
By: /s/ Doreen A. Toben
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Doreen A. Toben
Vice President - Controller
Date: December 22, 1999
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Exhibit Index
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Exhibit
Number
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99 Press Release, dated December 22, 1999, issued by Bell Atlantic.
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EXHIBIT 99
NEWS RELEASE [Bell Atlantic Logo]
For Immediate Release Contact:
December 22, 1999 Eric Rabe
212-395-0500
[email protected]
Maureen Flanagan
212-395-0500
[email protected]
Bell Atlantic First to Win FCC Approval to Offer
Long Distance
New Yorkers to Get Bell Atlantic
'Surprise-Free' Long Distance Jan. 5
New York - Bell Atlantic today received federal approval to enter the long
distance market in New York and promised to win over consumers with "surprise-
free" long distance.
The history-making decision by the Federal Communications Commission (FCC) makes
Bell Atlantic the first regional Bell company allowed to offer long distance
service inside its local region.
Bell Atlantic will begin providing long distance to New York consumers Jan. 5,
after the FCC's decision takes effect. The company will launch its long distance
business and unveil the first of many new calling products at a news conference
Jan. 4.
"Eight million New Yorkers - from Buffalo to the Bronx - will be able to ring in
the new century with a better choice for long distance from a company they know
and trust," said Ivan Seidenberg, Bell Atlantic chairman and CEO. "Today, we say
to all consumers: We want your
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Bell Atlantic News Release, page 2
business and we will earn it by delivering a stream of innovative new products
at competitive prices. We plan to set a higher standard that consumers can
expect and our competitors will follow."
Bell Atlantic promised to offer surprise-free long distance - simple,
straightforward calling plans to residential customers with no monthly calling
plan fees.
"Our research repeatedly shows that residential customers want simple calling
plans without complicated pricing," said James G. Cullen, Bell Atlantic
president and chief operating officer. "That is exactly what Bell Atlantic will
offer."
Some long distance companies have offered their most attractive rates only to
their best business customers. At the same time, some companies assess higher
rates and minimum usage fees if customers don't make enough calls to qualify for
the cheapest calling plans. For example, under one so-called seven-cents a
minute plan, a residential customer who makes 43 minutes of long distance calls
a month would actually pay 21 cents a minute after all the extra fees and
charges are included.
"We are putting our best deals and most innovative products on the table for all
---
customers - not just the most lucrative business and high-volume callers,"
Seidenberg said. "Unlike the other big long distance companies, we are committed
to bringing competition and customer service to every consumer."
Cullen said that the company expects to win 25 to 30 percent of the $2 billion
consumer long distance market in the region in five years, especially given Bell
Atlantic's solid reputation for customer care and its strong ties to the
communities across the state.
The FCC approved Bell Atlantic's application on schedule, following the
Commission's 90-day review process. The 88,500-page document, which also earned
the endorsement of the
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Bell Atlantic News Release, page 3
New York Public Service Commission, detailed how the company has opened its
local markets to competition and complied with the Telecommunications Act of
1996.
"The FCC's review of this application was thoughtful and thorough, reflecting
the input of both competitors and consumer organizations," said Seidenberg.
"Under the leadership of this agency and the New York Public Service Commission,
a model has been established that we and other local phone companies can follow
in the future. We expect to move quickly to provide long distance service in
other states so that consumers and businesses in our entire region can benefit
from the value that Bell Atlantic brings."
Note to Editors: Related b-roll will be available via satellite at Telstar 6,
Transponder 8. Downlink: 3860 horizontal; audio: 6.2 and 6.8.
Bell Atlantic is at the forefront of the new communications and information
industry. With more than 43 million telephone access lines and nearly 10 million
wireless customers worldwide, Bell Atlantic companies are premier providers of
advanced wireline voice and data services, market leaders in wireless services
and the world's largest publishers of directory information. Bell Atlantic
companies are also among the world's largest investors in high-growth global
communications markets, with operations and investments in 23 countries.
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INTERNET USERS: Bell Atlantic news releases, executive speeches, news media
contacts and other useful information are available at Bell Atlantic's News
Center on the World Wide Web (http://www.ba.com). To receive news releases by
email, visit the News Center and register for personalized automatic delivery of
Bell Atlantic news releases.
