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CNBC TRANSCRIPT: CNBC'S JIM CRAMER INTERVIEWS IVAN SEIDENBERG, VERIZON CHAIRMAN & CEO, ON "MAD MONEY W/JIM CRAMER" TODAY

CNBC TRANSCRIPT: CNBC'S JIM CRAMER INTERVIEWS IVAN SEIDENBERG, VERIZON CHAIRMAN & CEO, ON "MAD MONEY W/JIM CRAMER" TODAY

WHEN: Today, Friday, November 7th at 6:20PM ET

WHERE: CNBC's "Mad Money w/Jim Cramer"

Following is the unofficial transcript of a CNBC interview with Ivan Seidenberg, Verizon Chairman & CEO, today on "Mad Money w/Jim Cramer."

All references must be sourced to CNBC's "Mad Money w/Jim Cramer."

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CRAMER: I'M THRILLED TO BRING ON IVAN SEIDENBERG, VERIZON'S CHAIRMAN AND CEO, A MAN WHOM I CONSIDER TO BE ONE OF THE SMARTEST AND BEST CEO'S IN THE COUNTRY AND THE MASTER MIND OF VERIZON'S SUCCESS AS A BUSINESS. EVEN RIGHT NOW, AS ITS STOCK IS DOWN 30% YEAR, OVER YEAR, WHICH MAKES NO SENSE TO ME. IVAN, WELCOME TO THE SHOW.

SEIDENBERG: HELLO, JIM, HOW ARE YOU DOING?

CRAMER: GOOD TO SEE YOU. YOU'VE GOT THIS ALLTEL DEAL, ABOUT TO CLOSE. TELL ME WHAT VERIZON WILL LOOK LIKE NEXT YEAR BECAUSE OF ALLTEL VERSUS THE WAY IT LOOKS NOW.

SEIDENBERG: WELL, WE GO FROM 70 MILLION -- 70 MILLION WIRELESS CUSTOMERS TO 80 MILLION WIRELESS CUSTOMERS. WE INCREASE COVERAGE THROUGHOUT THE SOUTHEAST AND MIDWEST AND SOME MARKETS IN THE SOUTHWEST. AND WE'RE ABLE TO PROVIDE BETTER ROAMING AND BETTER COVERAGE FOR OUR CUSTOMERS, AND WE'LL BE ABLE TO PENETRATE DATA MARKET MUCH BETTER. SO WE GET SCALE, AND WE CONVERT THAT SCALE TO BENEFIT FOR CONSUMERS.

CRAMER: DO YOU THINK YOU -- HAVE ANY BUYERS REMORSE ABOUT THE PRICE YOU HAVE TO PAY, GIVEN THE FACT THE ECONOMY HAS FALLEN OFF AND THE PRIVATE EQUITY GUYS ARE SO STRAPPED FOR MONEY?

SEIDENBERG: NO, LOOK, IN ANY DEAL YOU DO, YOU SET ON A PRICE, AND THE MOST IMPORTANT PART OF THIS TRANSACTION IS THAT WE HAVE INDICATED THAT WE THINK THERE'S

WELL OVER $9 BILLION IN NET PRESENT VALUE IN THIS DEAL, SO, SURE, THERE'S A -- THERE'S A LITTLE BIT MORE WE PAY FOR IT UPFRONT IN FINANCING COSTS. BUT THIS DEAL IS SO COMPELLING, BECAUSE OVER THE LONG-TERM, THE FIT BETWEEN ALLTEL AND VERIZON IS SO GOOD, THAT WILL GENERATE SAVINGS IN IF VALUE FOR YEARS TO COME.

CRAMER: ALL RIGHT. I WANT TO TALK ABOUT -- WHAT YOU DID THIS WEEK, WHICH IS TO RAISE THE DIVIDEND. WE HAVE BEEN ADAMANT, THAT IN THIS GREAT, FORMIDABLE BEAR MARKET, THAT THE ONLY THING THAT CAN PROTECT YOU AND ALLOW YOU TO MAKE MONEY OVER TIME IS THE DIVIDEND. TALK ABOUT WHY YOU DECIDED TO RAISE THE DIVIDEND AT A TIME WHEN A LOT OF COMPANIES ARE TAKING THEIR BREATH AND SAYING, HEY, MAYBE WE SHOULD JUST CONTINUE OUR BUYBACK AND FORGET ABOUT THE DIVIDEND?

SEIDENBERG: WELL, I THINK LET'S START WITH THE FACT THAT WE BELIEVE WE HAVE A VERY, VERY FUNDAMENTALLY SOUND COMPANY THAT HAS TERRIFIC CASH FLOWS, AND TERRIFIC FUTURE CASH FLOWS. AND SO THE CHALLENGE FOR US WAS IN THIS KIND OF A MARKET, WHAT'S THE BEST WAY FOR US TO RETURN VALUE TO SHAREHOLDERS? SO THE FIRST THING YOU TRY TO DO IS GROW YOUR EARNINGS FOR SHARE EVERY YEAR. AND IN A MARKET LIKE THIS, WHERE YOU'RE A LITTLE BIT CHALLENGED TO GROW IT AS MUCH AS YOU LIKE, BUT YOU BALANCE THAT OFF WITH A DIVIDEND INCREASE, SO WE INCREASED OUR DIVIDEND BY 7%. WE'VE GUIDED OUR INVESTORS TO THINK WE SHOULD PRODUCE EARNINGS PER SHARE SOMEWHERE AROUND 8% FOR THE YEAR. SO OUR VIEW IS THAT RAISING DIVIDEND IS A SIGN OF THE CONFIDENCE WE HAVE IN OUR BUSINESS, AND OUR BUSINESS MODEL. BUT IT'S REALLY GEARED TO MAKE SURE THAT OUR SHAREHOLDERS ARE REWARDED FOR THE INVESTMENTS AND THE OPERATION OF THE COMPANY.

CRAMER: ALL RIGHT. LET'S TALK ABOUT SOME NEAR-TERM EARNINGS. PRINT REPORTED A MISERABLE QUARTER, LOST 4 MILLION COMPANIES. DOES A COMPANY LIKE YOURS ACTIVELY GO AFTER A SPRINT CUSTOMER RIGHT NOW?

SEIDENBERG: WE ACTIVELY GO AFTER ALL OF THE CUSTOMERS. AND I THINK SOME COMPETITORS ARE IN BETTER POSITIONS THAN OTHERS. IF YOU LOOK AT OUR COMPANY, PARTICULARLY IN WIRELESS, WE HAVE SORT OF A STRATEGY THAT CUTS ACROSS THE BUSINESS CUSTOMERS. THE CUSTOMERS THAT USE HIGH LEVELS OF DATA, THE FAMILY PLAN. SO, JIM, I THINK WE -- WE'VE -- WE HAVEN'T BUILT OUR COMPANY BY FOCUSING ON ONE MARKET. WE FOCUSED OUR BUSINESS BY HAVING A BROAD PORTFOLIO THAT GOES AFTER ALL OF THE CUSTOMERS.

CRAMER: ALL RIGHT. MORE OPPORTUNITY. IN THE PAPER TODAY, IT LOOKS LIKE MICROSOFT IS TRYING TO PAY YOU MORE THAN GOOGLE TO BECOME THE OPERATING SYSTEM FOR VERIZON WIRELESS. IS THIS -- WAS THIS JUST FANCIFUL PRESS REPORTS? ARE YOU IN ACTIVE NEGOTIATIONS WITH BOTH AND GOING TO TAKE THE MOST MONEY FOR YOUR SHAREHOLDERS?

SEIDENBERG: THE ANSWER TO THAT IS WE'RE IN ACTIVE DISCUSSION WITH A LOT OF PEOPLE ABOUT A LOT OF THINGS. BUT THE MOST IMPORTANT THING ABOUT THIS QUESTION YOU ASKED IS WHETHER IT'S MICROSOFT OR GOOGLE OR YAHOO OR ANY OF THE COMPANIES, THE WIRELESS PLATFORM IS A VERY, VERY IMPORTANT PLATFORM TO REACH THE END USER CUSTOMERS FOR THE KINDS OF PRODUCTS AND SERVICES THEY PROVIDE.

CRAMER: NOW YOU GO WITH THE ONE THAT PAYS YOU MORE OR THE BETTER ONE?

SEIDENBERG: WE GO WITH THE ONE THAT PRODUCES THE BEST LONG-TERM VALUE OVER TIME. SO IN SOME CASE YOU MIGHT GET MORE REVENUE UP FRONT AND IN OTHER CASES YOU MIGHT BUILD IT MORE OVER TIME. WE ARE STILL WORKING OUR WAY THROUGH THAT, BUT YOU CAN REST ASSURED OUR SHAREHOLDERS WILL BE I THINK WELL REWARDED FOR WHATEVER DEAL --

CRAMER: IS THIS SOMETHING WHICH COULD MEAN BILLIONS TO THE BOTTOM LINE OF VERIZON THAT WE HAVEN'T THOUGHT OF BEFORE?

SEIDENBERG: BILLIONS IS A BIG NUMBER. I SUSPECT OVER TIME, IT'S GOING TO BE WORTH A LOT OF MONEY. WHY DON'T WE JUST LEAVE IT AT THAT, AND WE'LL SURPRISE EVERYONE WITH THE SUCCESS OF THE PROGRAM.

CRAMER: BUT YOU'LL MAKE A DECISION PRETTY SOON.

SEIDENBERG: I THINK WE SHOULD BE IN A POSITION TO DECIDE THIS SOON, YES.

CRAMER: ALL RIGHT. LET'S TALK FIOS. THERE ARE SOME ANALYSTS WHO SAY, WE DON'T EVEN KNOW WHY VERIZON IS WASTING THEIR MONEY WITH THIS THING. IT COSTS A FORTUNE. THE PREVIOUS QUARTER, EVERYONE DECIDED, YOU KNOW WHAT, THEY'RE LOSERS, WHAT MATTERS IS COMCAST. COMCAST IS KILLING THEM. WHERE COMCAST IS KILLING THEM, THE OTHER CABLES ARE KILLING THEM.THEN YOU REPORT THIS QUARTER, AND FIOS IS ON FIRE. HOW CAN THE ANALYSTS BE SO WRONG, AND WHAT IS THE STATE OF FIOS?

SEIDENBERG: WELL, I THINK WE SHOULD LOOK AT THIS FIRST FROM THE STANDPOINT OF THE STRATEGY OF THE COMPANY AND THE CUSTOMER. WE PUT IN THESE ASSETS, THIS HIGH-BROADBAND NETWORK, FIOS, BECAUSE WE BELIEVE OVER THE COURSE OF THE NEXT 10 TO 20 YEARS, THE GROWTH OPPORTUNITY IS JUST ENORMOUS. SO INITIALLY, WE LOOK AT THE PROVISION OF HIGH-DEFINITION TELEVISION AND HIGH-SPEED DATA, BUT SOONER OR LATER THE TV EXPERIENCE WILL BE REDEFINED AND YOU'LL BE ABLE TO WATCH 3D TELEVISION IN YOUR LIVING ROOM. SO ANALYSTS TEND TO LOOK AT THINGS OVER THE COURSE OF THE NEXT YEAR OR SO. AND IF YOU LOOK AT IT IN THE NEXT YEAR OR SO, IT'S UNDERSTANDABLE THAT THEY DON'T NECESSARILY SEE THE POTENTIAL IN THE FUTURE. I THINK AS A BUSINESS, I THINK WE HAVE TOTALLY CONVINCED THAT THE POWER OF THESE ASSETS THAT WE PUT IN PLACE ARE JUST EXTRAORDINARY. AND SO I THINK NOW WE'RE EVEN PROVING THAT IN THE SHORT TERM, WE'RE GETTING A GOOD RETURN ON IT. SO WHEN YOU COMBINE THE NEAR-TERM SUCCESS WITH THE POWER OF THE FUTURE GROWTH, I MEAN, IT'S A GREAT DEAL DEAL.

CRAMER: IS THERE ROOM FOR BOTH -- FOR BOTH A CABLE COMPANY AND YOUR COMPANY TO MAKE A LOT OF MONEY, OR IS IT REALLY A ZERO SUM GAME?

SEIDENBERG: WELL, THERE'S NO SUCH THING IN THE MARKETPLACE WHERE CUSTOMERS WANT CHOICE OF ZERO SUM. I THINK THAT THE ASSETS WE PUT IN AND THE INVESTMENTS WE MAKE, JIM, IN PART HELP EXPAND THE MARKET. SO WE'RE NOT THINKING ABOUT THIS AS A FIXED PIE. WE'RE THINKING ABOUT THIS AS DOUBLING AND TRIPLING AND QUADRUPLING THE PIE. SO I THINK THERE IS PLENTY OF ROOM FOR A VERY, VERY SUCCESSFUL VERIZON, AND A LITTLE BIT OF ROOM FOR SOME OF THE CABLE GUYS.

CRAMER: ONE OF THE THINGS I LIKE ABOUT VERIZON IS THAT YOU DON'T KNOW WHAT IT'S GOING TO DELIVER NEXT. I HAVE SPOKEN TO YOU BEFORE, AND SIX, SEVEN YEARS AGO, THE NOTION OF TEXTING REALLY WASN'T IN THE CARDS. NOW THOSE OF US WHO HAVE KIDS -- NO, EVERYBODY. I WALK INTO PEOPLE WHO ARE TEXTING ALL OF THE TIME, BECAUSE THEY'RE NOT LOOKING UP. TALK TO ME ABOUT WHAT'S THE NEXT TEXTING THAT NOBODY SEES COMING.

SEIDENBERG: WELL, I'M NOT SURE I HAVE THAT ANSWER, BUT I WOULD SAY THAT MULTIMEDIA TEXTING, SO NOW TEXTING IS ALL IN WORDS. AND YOU USE YOUR TEXT FOR IT. BUT PRETTY SOON IT WILL BE VIDEO TEXT AND YOU'LL BE ABLE TO SEND LITTLE CLIPS AND ALL SORTS OF MESSAGES AND BE ABLE TO PULL THINGS DOWN. AND IF YOU'RE WALKING AROUND ON THE STREET, YOU'LL BE ABLE TO PULL OFF PICTURES AS YOU'RE WALKING AND PUT YOUR OWN MESSAGES AND MUSIC TO IT, SO I THINK THE WHOLE MULTIMEDIA ISSUE WILL BE VERY EXCITING. WHEN YOU THINK ABOUT OUR COMPANY ALONE HAD 80 BILLION, ALMOST A BILLION A DAY, IN TEXT MESSAGES AND OUR MULTIMEDIA TEXT MESSAGE ARE A VERY SMALL NUMBER COMPARED TO THAT NUMBER. SO MAYBE IN TWO YEARS, WE'LL SEE 80 BILLION MULTIMEDIA TEXT MESSAGES, SO IT'S A PHENOMENA WAITING TO OCCUR.

CRAMER: MY SISTER WILL KILL ME IF I DON'T ASK YOU THIS. WHEN ARE YOU GOING TO GET MSNBC, OUR SISTER STATION, IN SOME OF THE AREAS OF THE COUNTRY.

SEIDENBERG: WELL ALL I CAN SAY ON THAT IS WE'RE WORKING REALLY HARD TO DO IT.

CRAMER: WHO DO I CALL? ZUCKER?

SEIDENBERG: NO, CALL DOLAN. ASK HIM WHEN WE'RE GOING TO GET IT.

CRAMER: YOU'RE THE MAN. THANK YOU FOR RAISING DIVIDEND, THANK YOU FOR MAKING MONEY FOR US, AND THANK YOU FOR COMING ON "MAD MONEY" AND BEING PART OF INVESTED AMERICA.

SEIDENBERG: THANK YOU, JIM.

CRAMER: GOOD DEAL.




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