Verizon and Google are paying each other billions to keep each other connected.
That’s according to a report from Bloomberg News, which cites people familiar with the talks.
Verizon is asking Google to invest up to $100 billion a year in its network, the people said.
Verizon would receive a portion of Google’s net income, and Google would pay Verizon for its wireless coverage, Bloomberg’s sources said.
Verizon and Google have been at odds for years over the cost of network infrastructure.
Verizon has said it wants to reduce the cost to consumers of Verizon’s LTE network, but Google has said that is a priority for the company.
Verizon, in turn, has said Google’s LTE deployment is a “monopoly” and wants to use its spectrum to provide wireless broadband for its customers.
Verizons CEO Lowell McAdam told the Wall Street Journal last year that Google’s wireless plans were “too expensive.”
The report comes amid speculation that Verizon will begin selling its 5G network next year, but it’s unclear if the deal would be made public.
Verizon could face more regulatory scrutiny, including a possible $3 billion fine for violations related to its 5.1 gigabit-per-second wireless network.