The next-generation 5G network will “usher in what I think is the fourth industrial revolution in this country,” Verizon CEO and chairman Lowell McAdam said on CNBC’s “Squawk on the Street” on Thursday.

McAdam was a speaker at the Goldman Sachs 26th Annual Communacopia Conference in New York on Thursday. He said the company the company was no longer interested in purchasing a cable operator. Instead it would focus on building out its fiber optic cable network, including through its $1 billion deal with Corning.

Verizon bought AOL in June 2015 for $4.4 billion, and Yahoo in June 2017 for $4.48 billion. The two acquired companies were merged into a subsidiary called Oath.

Source: Tech CNBC
Next-generation 5G wireless is the 'fourth industrial revolution': Verizon CEO Lowell McAdam