www.phonescoop.com
Quote:
Sprint, Nextel Announce Merger
Wednesday, 10:27 AM source: Sprint, Nextel
Sprint and Nextel today announced that their boards of directors have unanimously approved a definitive merger agreement. The new company, which will be called Sprint Nextel, will spin off Sprint's local telecommunications business following the merger. The new company will migrate Nextel's push-to-talk services to Sprint's new CDMA EV-DO network. The two companies have a combined value of $70 billion and serve over 35 million wireless subscribers, plus another 5 million through affiliates and partners. The companies operate networks that directly cover nearly 262 million people, more of the U.S. population than any other carrier. Sprint and Nextel are being valued equally in the merger and their shareholders will each own approximately 50 percent of the new company after the merger. The merger is expected to close in the second half of 2005.
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So The New Name will be Sprint Nextel, and they will be using Sprints network, not Nextels.