So Droid Life -- which has earned itself a solid record in the rumor game as of late -- is reporting that Verizon Wireless will be dropping the "Wireless" portion of its name this weekend and announcing that it won't be carrying the iPhone 4, instead concentrating on its high-end line of Android devices that it's done an admirable job of building up lately. We can't speak to the validity of the iPhone stuff, but we're starting to believe the rest now that we've been independently tipped on a new branding campaign that'll focus on the tagline "Rule the Air." Interestingly, it would seem that changing the name to Verizon risks confusing the company with one of its two corporate parents -- Verizon Communications -- which leads us to wonder whether this is a sign that Vodafone could be getting close to relinquishing control of its sizable minority share after years of speculation. Regardless, it looks like the bright red theme ain't going anywhere. More on this as it develops.

[Thanks, The Geek]

Update: We have it on good authority now that there will be no official name change from Verizon Wireless to Verizon -- the only thing that's changing is the use of new logos that lack the "Wireless" portion of the name.

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Verizon Wireless changing to Verizon this Sunday, massive new branding campaign planned? (update: no name change)