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Essay on Nextel/Sprint Merger
Abstract
The purpose of this paper is to analyze the merger of Nextel/Sprint, to illustrate their financial and stock positions along with the leadership and their roles. The paper is written in APA format with 6 references.
Introduction
The merger took place between the two companies on August 12, 2005. The rumors for the merger started in around first week of December 2004. Initially it was not clear how far the talks had progressed, and some analysts questioned whether a deal combining Nextel, the nation's fifth-largest mobile phone carrier, and Sprint, the third largest, would be made.
According to an article published in Washington Post “A merger would give Reston-based Nextel access to Sprint's high-speed data network, saving Nextel more than $2 billion it has been planning to spend to build its own. It would give Sprint of Overland Park, Kan., access to Nextel's well-regarded management team and its business-oriented customer base, which produces the cell phone industry's highest revenue per customer.” (McCarthy, 2004)
Nextel has long been a leader of the Washington area's telecommunications industry. The company was founded in 1987 and grew by acquiring walkie-talkie licenses from taxicab dispatch operators. The cobbled-together system proved to have a big advantage: Nextel's push-to-talk feature, with its instant call connections, was especially attractive to business customers.
In 1995, Craig O. McCaw, a leader in the wireless industry, and his family invested $1.1 billion in Nextel and spearheaded the debt-burdened company's return from the brink of bankruptcy. The firm expanded its product and service offerings. Today it has about 18,000 employees nationwide, including about 2,500 in the Washington area. (White, Birnbaum, Barbash, 2004)
Timothy M. Donahue took over as president and chief executive in July 1999 and has worked to raise the company's profile. The company stepped up its Washington lobbying efforts and signed a deal....
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