Sprint, Nextel Reach Tentative Merger Deal
Dec 10, 2004, 5:05 PM by (staff)
The Wall Street Journal is reporting that Sprint and Nextel have tentatively agreed to basic terms of a merger. The $36 billion deal would create a third giant cellular carrier with nearly 39 million subscribers. Although Sprint shareholders will retain more than 50% of the combined company, to be called "Sprint-Nextel", the merger will otherwise be mutual. The new company will have a 50-50 split among board members from each company. The new company would spin off Sprint's local landline operations. Nothing has been finalized yet, but the companies are said to be "advanced negotiations", and an official announcement could come next week.
Comments
Rate plans will increase!
Yeah, it was predicted that all of these mergers would take place in some shape or form within the near future. But, it has also been predicted that less players means less competition....and less competition means these companies can start charging what they really want to charge!
And who pays for everything? The consumer! God Bless Capitalism [ 😕 ] - Remind me again whats wrong with Social Democracy?
416 Times Yep seems fair!
416 Times Yep seems fair!
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Fewer carriers does not mean less competition. Sometimes the only way a company can differentiate itself from the rest is by being a low price leader.
The day is coming when coverage will be a non issue and the only issues the consumer will care abo...
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The day is coming when coverage will be a non issue and the only issues the consumer will care abo...
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memillh06 said:
But, it has also been predicted that less players means less competition....and less competition means these companies can start charging what they really want to charge!
I don't know, seems to me t...
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DJ CNBC's FABER REPORT: Full Transcript Of Report >FON NXTL
DJ CNBC's FABER REPORT: Full Transcript Of Report >FON NXTL
The following is a full transcript of a report issued by CNBC reporter David Faber on Tuesday:
Early tomorrow morning, Sprint Corp. (FON) and Nextel Communications Inc. (NXTL) will announce their merger
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A deal in which Sprint will pay Nextel shareholders a price equivalent to 1.3 shares of Sprint stock, which while made up almost entirely of that stock, will also include a small dollop of cash.
Sprint and Nextel will also announce their plans, after their merger closes, to spin off Sprint's local exchange business, which currently comprises roughly 7.7 million access lines.
And tomorrow morning, officials at Verizon Wireless and its parent Verizon Commun...
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The following is a full transcript of a report issued by CNBC reporter David Faber on Tuesday:
Early tomorrow morning, Sprint Corp. (FON) and Nextel Communications Inc. (NXTL) will announce their merger
...
A deal in which Sprint will pay Nextel shareholders a price equivalent to 1.3 shares of Sprint stock, which while made up almost entirely of that stock, will also include a small dollop of cash.
Sprint and Nextel will also announce their plans, after their merger closes, to spin off Sprint's local exchange business, which currently comprises roughly 7.7 million access lines.
And tomorrow morning, officials at Verizon Wireless and its parent Verizon Commun...
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Vodafone denies Sprint-Verizon talks
By Madeleine Acey, CBS.MarketWatch.com
Last Update: 12:33 PM ET Dec. 14, 2004
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LONDON (CBS.MW) -- Vodafone Group on Tuesday denied a report that said the British-based mobile network giant was backing Verizon Communications in a possible bid to buy out Sprint Corp.
Vodafone denies report of Verizon talks on Sprint bid
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My Portfolio Alerts
The news comes as Sprint (FON: news, chart, profile) reportedly is on the verge of agreeing to a $35 billion merger pact with Nextel Communications (NXTL: news, chart, profile). That dealt would be scuttled if Verizon (VZ: news, chart, profile), the largest U.S. telephone company, were to swoop in to acquir...
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Last Update: 12:33 PM ET Dec. 14, 2004
E-mail it | Print | Alert | Reprint | RSS
LONDON (CBS.MW) -- Vodafone Group on Tuesday denied a report that said the British-based mobile network giant was backing Verizon Communications in a possible bid to buy out Sprint Corp.
Vodafone denies report of Verizon talks on Sprint bid
TRACK THESE TOPICS
My Portfolio Alerts
The news comes as Sprint (FON: news, chart, profile) reportedly is on the verge of agreeing to a $35 billion merger pact with Nextel Communications (NXTL: news, chart, profile). That dealt would be scuttled if Verizon (VZ: news, chart, profile), the largest U.S. telephone company, were to swoop in to acquir...
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The latest dirt
Man, I love the absolutely rabid investigative journalism going on right now. Great example:
Full article in the Kansas City Star:
http://www.kansascity.com/mld/kansascity/news/local/ ... »
Crazy times... 😉
If the board approves the deal during its regularly scheduled meeting, company officials are expected to announce the merger in New York on Wednesday.
Sprint's top two executives, chairman and chief executive Gary Forsee and president and chief operating officer Len Lauer, have reservations to stay at New York's St. Regis Hotel tonight.
Full article in the Kansas City Star:
http://www.kansascity.com/mld/kansascity/news/local/ ... »
Crazy times... 😉
ATTWStoCingular said:Another attempt by Verizon to derail Nextel's quest for CDMA? Afraid that Sprint might actually become a thorn in their side? Kinda bullyish if you ask me....
Check out the story on SPRINTPCSINFO.com!
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The best thing to happen to Sprint since CDMA
I can't count the number of postives this would bring both company's..It gets SPCS decent PTT services, and that lucrative Nextel customer base. Nextel gets network, and technology for business custmers (EV-DO)...I can't wait
Incidentals ..Job Stability....Name change...etc
Is the official name going to be "sprint-nextel" ?.....Doesn't flow off the tounge that great... guess it will take some time...Anyone Knows if any layoffs will affect either company Sprint employees are about 60,000 Half of the call centers I believe are Outsourced in Customer Service and IT.... Nextel about 15,000 ...and i believe and could be wrong but they donot have any company owned call .centers...both companies are non-unionized...I personally do not like speaking to someone in another country about my account.I believe the combined company will be trimming down there headcounts to fall more in line with the head counts of cingular and verizon which are at about 45,000-50,000 ..Im anticipating large layoffs on the sprint end of the ...
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alcoholic said:...
Is the official name going to be "sprint-nextel" ?.....Doesn't flow off the tounge that great... guess it will take some time...Anyone Knows if any layoffs will affect either company Sprint employees are about 60,00
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Sprint-Nextel will be the corporate name of the new company, but I'm guessing they will continue to operate separately to the public for a quite a while. It won't be fast like Cingular & AT&T.
Sprint-Nextel will need to converge on a single technol...
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Sprint-Nextel will need to converge on a single technol...
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Just like with the Cingular merger, I don't expect many layoffs in customer service. When you have X number of customers, you need Y number of customer service reps. That won't change with the new company. The layoffs will come from other departments....
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I can't count the number of postives this would bring both company's..It gets SPCS decent PTT services, and that lucrative Nextel customer base. Nextel gets network, and technology for business custmers (EV-DO)...I can't wait 🙂
Really Hit a Nerve
I've never seen so many posts before. this merger has hit a nerve. In contrast, the cingular/ATT merger didn't seem to get the same response.
From what I have experienced Sprint and Nextel people are very passionate about their service. Brand Loyalty is very big with customers from both companies. Talking to the few people I know with Cingular/ATT reactions were they didn't really care as...
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i agree that almost all nextel customers, as well as a large portion of sprint users are very loyal, and that certainly would have an effect on their reaction to this announcement. it's also true that in general not many people have a great deal of br...
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Loyalty is everything in a subscription based business.
Nextel has the second lowest churn rate in the industry while Sprint is the most progressive with adding new features.
I was a sales rep for USCC and there was never the excitement you have by ...
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Nextel has the second lowest churn rate in the industry while Sprint is the most progressive with adding new features.
I was a sales rep for USCC and there was never the excitement you have by ...
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new name
Sprint-Nextel seems a rather awkward and unhip name. They need something catchy like SexTel... subscribership is bound to go up.
rowanrock you owe PRTHUG for stealing his joke.
"Now this is something that's gonna have a major impact on the cellular world. I already know the name that both companies are gonna use. They're gonna be called SEXTEL. LOL!! "
Either way I find...
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"Now this is something that's gonna have a major impact on the cellular world. I already know the name that both companies are gonna use. They're gonna be called SEXTEL. LOL!! "
Either way I find...
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They both still stink.
The COMBINED company is still 3rd in market share. Sprint was already 3rd! The hype here is overblown. It would've been bigger if Verizon had bought Sprint. Plus both are already notorious for sketchy billing systems and average service. Cingular and Verizon will attack heavily, encouraging disinfranchised customers to jump ship during the merger.
Bah, I'll take my typos and misspellings elsewhere. But this just stinks.
Bah, I'll take my typos and misspellings elsewhere. But this just stinks.
disinfranchised customers ? sprints customers wouldnt see any difference in service and people that have nextel use walkie talkie. who would they go to ?? noone. Having less customers dosnt mean less quality. Look at tmobile. They won a few JD power a...
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To R. Brome: thoughts on the fate of Nextel Motorola phones?
What does this mean for existing motorola blackberry phones?
For us nextel subscribers, will we likely be upgrading to "qchat" compatible phones in the next year or so? I'm curious to see how this will affect our hardware.
What would you (being impressively informed on this subject matter) say to people like me who just bought a new nextel phone? or who have plans to upgrade to the new blackberry 7520 in the next few months?
Should I hold off and start paying attention to the Sprint product line for my next phone purchase? (or spare myself the upcoming rumor mill heartache and just go back to cingular?)
Thanks for your reply in advance.
For us nextel subscribers, will we likely be upgrading to "qchat" compatible phones in the next year or so? I'm curious to see how this will affect our hardware.
What would you (being impressively informed on this subject matter) say to people like me who just bought a new nextel phone? or who have plans to upgrade to the new blackberry 7520 in the next few months?
Should I hold off and start paying attention to the Sprint product line for my next phone purchase? (or spare myself the upcoming rumor mill heartache and just go back to cingular?)
Thanks for your reply in advance.
No - there's no need to worry. It will be quite a while before the "new" service and phones are available. And it could be five years or more before iDEN is shut down. There's no need to panic - I doubt iDEN is going anywhere that fast.
Even if the...
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Even if the...
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That was fast.
Looks like sprint and nextel dont want to be left behind...Good for them. Now nextel customers can get nice phones...=)
i dont get it, the networks arent even compatible.
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Don't be fooled. Sprint and Nextel have been in contact for a while. They've been working together to work on spectrum swapping plans for MMDS spectrum (2.6-2.8 GHz) with the ITSF spectrum holders.
They also had to speak about what to do with that...
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They also had to speak about what to do with that...
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I'm quite sure RIM is actually a Canadian Company - So I don't believe it is also owned by Moto
Sprint-Nextel deal talk sparks vendor concern (very good read, please see link and post
http://aolsvc.news.aol.com/business/article.adp?id=2 ... »
Sprint-Nextel deal talk sparks vendor concern
By Sinead Carew, Reuters
NEW YORK, Dec 10 (Reuters) - The prospect of a deal between Sprint and Nextel Communications sparked concerns on Friday about a shrinking U.S. market for mobile network equipment, sending shares of Nextel's key supplier Motorola Inc. down almost 8 percent.
Sprint Corp. is in advanced negotiations to buy Nextel Communications Inc. for more than $36 billion in a mostly stock deal that would combine the No. 3 and No. 5 U.S. mobile providers, according to sources familiar with the deal.
Motorola is the sole network supplier and the main handset supplier to Nextel, and analysts say it has ...
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Sprint-Nextel deal talk sparks vendor concern
By Sinead Carew, Reuters
NEW YORK, Dec 10 (Reuters) - The prospect of a deal between Sprint and Nextel Communications sparked concerns on Friday about a shrinking U.S. market for mobile network equipment, sending shares of Nextel's key supplier Motorola Inc. down almost 8 percent.
Sprint Corp. is in advanced negotiations to buy Nextel Communications Inc. for more than $36 billion in a mostly stock deal that would combine the No. 3 and No. 5 U.S. mobile providers, according to sources familiar with the deal.
Motorola is the sole network supplier and the main handset supplier to Nextel, and analysts say it has ...
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It's about time
Now this is something that's gonna have a major impact on the cellular world. I already know the name that both companies are gonna use. They're gonna be called SEXTEL. LOL!! 🤣 🤣 🤣
