I have been saying for over a year both on KenRadio.com and here that the telcos are the next television threat to cable, not satellite. Verizon TV is a huge threat, if the Telcos can pull off more than the pipe to the home, which in itself is no easy trick. Can you spell ISDN or DSL?
That said, what this will mean in the near term is content wars. I can see Verizon going after sports team deals based on them already having relationships. I guess if someone looks at it closely, if I was Brian Roberts at Comcast would I want Verizon or Verizon Wireless sponsoring events in the Comcast operated Arenas or sponsoring the partially owned Comcast teams (NBA and NHL)? So now do you see why Comcast invested in MGM along with Sony?
This also goes to further why Dave Dorman in an excellent Business 2.0 article written by John Battelle talks about video content being delivered over the AT&T network, the same network that delivers CallVantage.