Sprint: Nextel&#39;s Savior
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NEW YORK - Just two months after the announcement that Cingular Wireless will acquire AT&amp;T Wireless, Sprint has announced that it plans to buy Nextel Communications for $35 billion.
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Bolstered by its fast-growing wireless business, Sprint reported solid third-quarter results Tuesday that beat Wall Street's expectations by 3 cents a share. Sprint also took a &#36;3.5 billion charge to write down network equipment that's been rendered obsolete.
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NEW YORK 07:30 EST - It&#39;s official. Sprint and Nextel is becoming &quot;Sprint Nextel&quot; in what is being described this morning by both companies as a &quot;merger of equals.
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Sprint Corp. and Nextel Communications Inc. customers are likely to see lower prices and better coverage as a result of the companies&#39; planned $35 billion merger.
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Industry watchers don&#39;t expect any trouble from regulators or competitors when it comes to the proposed Sprint (Quote, Chart) Nextel (Quote, Chart) merger.
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Nextel Communications is in advanced talks to merge with the Sprint Corporation, a deal that would form the third largest cellphone company in the nation.
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Sprint and Nextel&#39;s plans for a &quot;merger of equals&quot; will recast the US wireless competitive landscape, creating a new number-three player that could have far reaching effects
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Wireless subscribers of Sprint Nextel Corp. may no longer have to buy a new phone if they jump to a new carrier.
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If Sprint Corp. and Nextel Communications wind up merging late next year, don&#39;t expect the new Sprint Nextel to come roaring out of the gates with the kinds of massive service upgrades rolled out by the new Cingular Wireless LLC.
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A year ago, just after its first anniversary as a combined company, Sprint Nextel appeared ripe for the picking.
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Sprint Corp. said yesterday it will acquire Nextel Communications Inc. in a $35-billion deal that will create the nation&#39;s third-largest wireless phone carrier, Sprint Nextel.
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Sprint Corp. shares fell slightly on reports the company will pay more than $36 billion for Nextel Communications Inc. to create the third-largest US mobile- telephone company.
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U.S. mobile operator Sprint Nextel has appointed Dan Hesse as president and CEO. He replaces Gary Forsee, who resigned in October.Forsee left as Sprint Nextel fought to retain market share in the face of its two larger rivals, AT&amp;T and Verizon Wireless. The company struggled with integrating the disparate customer bases of its two constituent parts, not least because the Sprint and Nextel wireless networks are based on different technologies.Sprint Nextel&#39;s directors already know Hesse: he most recently served as chairman, president and CEO of Embarq, a company formed from the local telecommunications division of Sprint following that company&#39;s 2005 merger with Nextel.Before that, he held the same roles at Terabeam, a wireless carrier, following a number of years at the head of AT&amp;T Wireless.Hesse will now join the Sprint Nextel board of directors, although unlike Forsee he will not be its chairman. That honor will remain with James Hance, who took the post following Forsee&#39;s departure, the board said Tuesday.Sprint&#39;s two cellular networks serve around 54 million customers, and it also has licenses to build a national WiMax network, leaving it with something of an identity problem. Hesse will have to balance the needs of these networks as he sets out a new strategy for the company.
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America&#39;s third-largest mobile operator, Sprint, yesterday agreed to buy the fifth-largest, Nextel, in a well-flagged cash and shares deal worth $36.3billion (Â£19billion).
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Sprint is near a deal to acquire Nextel Communications for more than $34 billion in a transaction that would lead to further consolidation in the rapidly changing telecommunications industry
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The merger of Sprint Corp. and Nextel Communications, unveiled last week in a deal valued at more than $35 billion, is likely to spur deployment of broadband wireless services as three giant
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Gary Forsee, chief executive of Sprint-Nextel, spoke about efforts to right the companyâs ship.