Verizon to Invest in Southland Networks

Verizon Communications, the No. 1 U.S. local-telephone company, said its Verizon Wireless unit will invest more than $550 million next year in its Southern California digital and analog networks. The so-called dual-mode networks cover Los Angeles, Orange, Riverside, San Bernardino and Ventura counties. Shares of New York-based Verizon Communications fell $1.13 to close at $43.38 on the NYSE.