Verizon’s relatively new CEO, Dan Schulman, may be doing some corporate housekeeping to prepare the telecom giant for a sale to SpaceX, according to a new report from Semafor.

Getting its ducks in a row

Schulman roped in Alfonso Villanueva, who worked with him at his former company, PayPal, to join Verizon as Chief Transformation Officer in November. He also filled in as interim head of the Verizon Consumer Group when Sowmyanarayan Sampath left in February.

Villanueva has now officially stepped into the role of executive vice president of the consumer unit, which generates 78% of the company’s revenue.

Meanwhile, the company has been laying off employees, raising speculation about a shift in direction.

Turns out, this might be more than just corporate restructuring. Schulman might be readying Verizon for a buyout, though the company has vehemently denied the claims.

Any assertion that Verizon is being positioned for a sale to SpaceX — or any other entity — is unequivocally false, unsubstantiated, and entirely without merit.Verizon spokesperson, July 2026

It might be SpaceX

Schulman reportedly just wants to sell Verizon, whether to SpaceX or any other buyer. The CEO’s go-to strategy is cutting costs, which some believe isn’t sustainable for the long haul. And with his contract set to expire in 2028, Verizon’s long-term well-being isn’t necessarily his top priority.

Villanueva and the recent Deutsche Telekom recruit Abdu Mudesir are viewed as potential successors.

On the other side of the table, CEO Elon Musk has been expanding his spectrum portfolio as he explores ways to enter the cellular industry. He could build a carrier from scratch, but that would be very expensive.

When asked in late 2025 whether he would want to buy Verizon, Musk didn’t rule out the possibility.

Three good quarters led to this

Schulman was brought in to right the ship after three straight quarters of customer losses. Under his watch, every quarter has seen the carrier gain new customers.

Verizon’s revenue dipped 0.7% year-over-year, and net profit slid 22.9% in Q2. The company is also losing its historic dominance in network performance.

Verizon may be putting on a brave face, but it’s clearly taking on water.

What’s going on?

Take a breath, and another report on SpaceX’s telecom ambitions pops up. Some say the company is buying spectrum as leverage to negotiate an MVNO deal with the Big Three, while others say it wants to build or buy its own network.

Two analysts previously recommended that SpaceX scoop up T-Mobile due to its growth rate and pure wireless focus.

Despite recent headwinds, Verizon remains the nation’s top carrier. Thus, it’s not immediately clear why it would want to sell itself.