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Verizon Replaces CEO Vestberg With Former PayPal Chief Schulman

The carrier gets a new CEO and board chairman on the same day, fueling speculation: Why now?

Verizon announced today that CEO Hans Vestberg will be replaced «effective immediately» by former PayPal CEO and longtime telecom veteran Dan Schulman.

Vestberg’s new role will be as special advisor through Oct. 4, 2026, «during which time he will be focused on ensuring a smooth transition, including the integration with Frontier Communications,» expected in the first quarter of 2026, according to Verizon’s announcement. He will remain on the board of directors until its next annual meeting, likely happening in May 2026. At the same time, Verizon named Mark Bertolini as the new board chairman.

Schulman has been on Verizon’s board since 2018. His most recent post was CEO of PayPal from 2014 to 2023. Previously, his telecom experience included positions at AT&T, Virgin Mobile and Sprint Nextel.

This leadership change is the second major wireless CEO shuffle in two weeks. T-Mobile named former Chief Operating Officer Srini Gopalan its new CEO on Sept. 22, taking over from Mike Sievert. However, Sievert is still CEO until Nov. 1, when Gopalan assumes the role. Sievert will continue with T-Mobile as vice chairman and serve on its board of directors.

It’s unclear why Verizon is making this abrupt move now, just after the end of the third financial quarter of 2025 and three weeks before it releases earnings for the company. Vestberg is not quoted in the press release announcing his succession, leaving newly named chairman Bertolini the traditional task of praising the outgoing executive’s record in the announcement.

Verizon did not respond to a request for comment.


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In June, I spoke with Sowmyanarayan Sampath, CEO of Verizon’s consumer group (who would seem to be the expected replacement for the top role), about the company’s new Gemini AI-based customer service initiative. I asked him about the first quarter of 2025, when the company lost nearly 300,000 wireless customers, and he credited the fluctuation to «the seasonality of the business.»

In the second quarter of 2025, Verizon seemed to balance those numbers, but in different areas. It lost 51,000 wireless postpaid customers, added 50,000 wireless prepaid customers and 278,000 broadband customers.

In an email to CNET, Jason Leigh, senior research manager of 5G and mobility research at IDC, said, «2025 is shaping up to be an epically weird year for the wireless industry with tariffs, government cuts, yo-yoing labor market, and general economic malaise.»

Verizon is also in the middle of acquiring Frontier Communications, which is expected to close in the first quarter of 2026. The Federal Communications Commission approved the purchase in May 2025, but only after Verizon agreed to end its diversity, equity and inclusion (DEI) programs. 

Schulman has a record of standing up for policies not favored by the Trump administration, for example, when PayPal in 2016 stopped a planned expansion in North Carolina after the state passed a law requiring government buildings to make bathrooms single-sex only. In 2020, he spoke to CNET following the killing of George Floyd by police.

Leigh speculated that Verizon’s move could be the first building blocks toward developing 6G technologies. «Everyone is still hunting for that transformative strategy that is going to realize the innovative and financial promise of the billions invested in 5G,» he said, adding, «before the crowbar goes into the wallet to start funding 6G deployments.»

Technologies

Fubo Loses NBCUniversal Channels, Putting Your NBA Games in Jeopardy

Sound the carriage dispute Klaxon: Some network programming has disappeared from the streaming service after content negotiations fell through.

If you’ve noticed your favorite show has recently gone missing from Fubo, it’s probably because an entire block of programming just disappeared from the site’s channel lineup.

The live TV streaming service is engaged in a carriage dispute with NBCUniversal, a media company whose subsidiaries include NBC News, Universal Studios, Peacock, Telemundo and Illumination, among other brands.

On Nov. 21, NBCUniversal pulled all of its networks from Fubo. This is an especially big deal for sports watchers on the streaming service, since the Fubo Sports subscription — which began earlier this year — depends on the licensing agreement with NBCUniversal. However, viewers can still access sports content on networks like ESPN, CBS and ABC.

Fubo released a statement on Tuesday, alleging the media giant is engaging in «discriminatory tactics» that are harming the streamer’s subscribers.

«NBCU is discriminating against Fubo and our subscribers,» the statement says. «They allowed YouTube TV and Amazon Prime to integrate Peacock directly into their channel store, but refused to give Fubo the same rights.»


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Fubo says NBCUniversal is trying to force a multiyear deal for certain channel packages under the media giant’s new spin-off media company, Versant, and that it’s trying to upcharge on the Fubo Sports subscription by adding «expensive, non-sports channels» into the agreement, increasing the cost.

According to NBCUniversal’s website, the Versant brands include CNBC, E!, MS Now, SyFy and USA, among other channels.

NBCUniversal did not respond to a request for comment.

Fubo says that it’s willing to move forward without NBCUniversal content if an agreement cannot be reached.

«Fubo is committed to bringing its subscribers a premium, competitively-priced live TV streaming experience with the content they love,» its statement concludes. «That includes multiple content options, including a sports-focused service, that can be accessed directly from the Fubo app.»

Fubo recently became an affiliate of The Walt Disney Company, following its merger with Hulu’s live TV platform in October. It’s unclear whether this merger affected content agreement negotiations with NBCUniversal. Fubo did not respond to a request for comment on this.

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Technologies

Spotify Will Reportedly Get More Expensive in the US Next Year. Here’s What to Expect

The music streaming service will reportedly raise prices again after subscription rate hikes in other regions.

After announcing it is raising prices in regions including Europe, South Asia and Latin America, Spotify is reportedly about to increase prices again in the US.

The US is included in the latest Spotify price hike on its Premium services starting in early 2026, according to the Financial Times, which cited three sources familiar with the streaming music company’s dealings. For now, the least expensive Premium plans in the US start at $12, but the price hike would likely put it in line with the other regions where the Premium plan costs about $14 a month.


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Spotify also offers a Premium Family plan that covers six people in the same household for $20 and plans for students ($6 a month bundled with Hulu) and couples ($17 a month). Spotify also offers a Basic plan that does not include access to audiobooks for $11 a month. A representative for Spotify did not immediately respond to a request for comment.

A steady increase

If the report is accurate, this would be the third price increase on Premium plans in the US since 2023. Before those hikes, Premium plans were $10, but Spotify raised its minimum price by $1 in 2023 then again in 2024.

Just this week, Spotify added the ability to seamlessly import playlists from other music services including Apple Music and Tidal.

Spotify has faced some controversy this year, including some music acts abandoning the platform and some customers canceling subscriptions over advertising for Homeland Security’s ICE program. CNET has a guide for canceling your Spotify subscription.

The company is the market leader among music streaming apps with about 32 percent market share as of the end of 2024.

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Technologies

Some Rad Power Bike E-Bike Batteries Can Catch Fire, Consumer Protection Agency Warns

The company declined to offer full replacements or refunds, citing financial constraints.

The US Consumer Product Safety Commission is warning that some lithium‑ion batteries used in certain e‑bikes made by Rad Power Bikes pose a serious fire hazard that could lead to injury or even death. The agency says the batteries, identified by model numbers RP‑1304 and HL‑RP‑S1304, can unexpectedly ignite or explode, especially if the battery or its harness has been exposed to water or debris.

The recall has been marked as a «public health and safety finding» because Rad Power Bikes has declined to offer full replacements or refunds for all consumers, citing financial constraints. 

CPSC reports 31 incidents of fire involving these batteries, including 12 cases where property damage totaled approximately $734,500. Some of these fires occurred even when the battery was not in use or charging, but was in storage. 


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The batteries were sold as either original or replacement units for several Rad Power Bikes e-bike models and were available through RadPowerBikes.com, Best Buy and independent bike shops nationwide. 

«Rad informed the agency that its demand to replace all batteries, regardless of condition, would immediately put Rad out of business, which would be of no benefit to our riders,» the company said in a statement issued with the CPSC warning. «Rad is disappointed that it could not reach a resolution that best serves our riders and the industry at large. Rad reminds its customers to inspect batteries before use or charging and immediately stop using batteries that show signs of damage, water ingress, or corrosion, and to contact Rad so we can support our riders.»

The CPSC’s statement does not apply to all Rad batteries, and does not apply to its Safe Shield or semi-integrated batteries.

Consumers who have one of the affected batteries are urged to stop using it immediately and dispose of it properly via a household hazardous‑waste collection center. Do not place the batteries in standard curb-side recycling or trash bins, and refrain from reselling them.

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