Verizon Communications Inc. is a multinational conglomerate in the telecommunications industry. It is incorporated in Delaware and headquartered at 1095 Avenue of the Americas in Midtown Manhattan, New York City. Verizon is a component of the Dow Jones Industrial Average and is the world’s second-largest telecommunications company by revenue. The company was formed in 1984 as Bell Atlantic as a result of the breakup of the Bell System into seven companies, each a Regional Bell Operating Company (RBOC) commonly referred to as “Baby Bells.” The company was originally headquartered in Philadelphia and operated in the states of New Jersey and Virginia. In 1997, Bell Atlantic merged with NYNEX to expand into New York and the New England states.