The CEO of Verizon Communications, Ivan Seidenberg has virtually announced the death of the landline, telling the audience of the Goldman Sachs investor conference that Verizon Communications is not interested in telephones connected via a landline reports the NYT.

Traditional phone companies are suffering due to customers cancelling their landlines in favour of using their mobile phone and wireless network. Seidenberg believes his “thinking has matured” and trying tp predict the decline of the landline business is like “the dog chasing the bus.”

Verizon is also moving away from copper wires and selling off most of its rural operations and putting out billions to wire virtually the rest of its territory with its fibre option network called FiOS.