Verizon Investing $10 Million in Social Justice Organizations

Saying that the protests and violence racking the country "are rooted in hate" and are "contradictory with our beliefs as a company," Verizon CEO Hans Vestberg indicated Monday the company would be putting money where it's mouth is. 

He said the company would be investing $10 million in social justice organizations, including the Urban League, NAACP and Rainbow/PUSH. 

"Verizon is fiercely committed to diversity and inclusion across all spectrums because it makes us and the world better," an obviously emotional Vestberg said Monday. "We cannot commit to a brand purpose of moving the world forward unless we are committed to helping ensure we move it forward for everyone.  

Vestberg said he wanted all the company's black employees to know that "they matter and they are valued." 

He said the Verizon Media news teams were putting themselves at risk to insure the accuracy of the stories they are reporting and the company was taking steps to keeping them safe.

John Eggerton

Contributing editor John Eggerton has been an editor and/or writer on media regulation, legislation and policy for over four decades, including covering the FCC, FTC, Congress, the major media trade associations, and the federal courts. In addition to Multichannel News and Broadcasting + Cable, his work has appeared in Radio World, TV Technology, TV Fax, This Week in Consumer Electronics, Variety and the Encyclopedia Britannica.