Nextel


Also found in: Medical, Financial.

Nextel

(Nextel Communications, Inc., Reston, VA, www.nextel.com) A wireless communications carrier founded in New Jersey in 1987 as Fleet Call, a two-way radio service. Throughout the late 1980s and 1990s, the company acquired a large number of SMR (Specialized Mobile Radio) operators and turned them into a nationwide system. In 1996, it introduced Motorola's iDEN technology, which incorporates dispatch radio, cellphone, data and text messaging into one phone. Branded as Nextel's Direct Connect, the iDEN two-way radio service provides an always-on connection between mobile workers similar to a walkie talkie. Nextel was one of the first cellular carriers to institute a nationwide, no roaming charge service. In 2004, Nextel merged with Sprint to become Sprint Nextel.
References in periodicals archive ?
Sprint Nextel Also Introduces New Products and Services for NASCAR Fans
The NEXTEL Experience, which first launched in 2004, is a 10,000-square-foot interactive fan exhibit focused on Sprint Nextel products and NASCAR NEXTEL Cup Series displays.
We anticipate the excitement will carry through the entire NASCAR NEXTEL All-Star Challenge week," said Dean Kessel, director of NASCAR NEXTEL Cup Series[TM] marketing for Sprint Nextel.
Fitch remains particularly concerned about the erosion that's occurring in the Nextel operations due to network capacity and quality issues, branding weaknesses and past reliance on subprime subscriber additions that has elevated churn levels, caused sharp ARPU declines and resulted in high iDEN subscriber losses.
The Court ruled that Horizon/Bright is entitled to a permanent injunction against Sprint Nextel because Horizon/Bright "will suffer irreparable harm if Sprint Nextel proceeds as it wishes in (the Horizon/Bright territory).
The Vice Chancellor also found no evidence that Sprint Nextel breached any of its confidentiality obligations to the affiliates, and declined to grant any relief against Sprint Nextel, holding that the confidentiality provisions in the parties' agreement were sufficient protection for the affiliates.
We are pleased that the FCC has approved this acquisition and are looking forward to working together to continue the outstanding service Nextel Partners' customers rely upon," said Gary Forsee, Sprint Nextel president and chief executive officer.
Our resulting asset mix will be aimed at the 'sweet spots' in telecommunications - mobility and data services - positioning us to develop our leadership position in a fast-changing industry," said Sprint Nextel CEO Gary Forsee.
The put price was determined after the two appraisers, Morgan Stanley and Lazard, issued their reports that determined fair market value for Nextel Partners as defined in the charter.
A number of the matters and subject areas discussed in this press release that are not historical or current facts deal with potential future circumstances and developments, including without limitation, matters related to Nextel Partners' growth strategies and future financial and operating results.
As a result of the transaction, Nextel Partners has reduced its weighted average cost of debt to 5.
We are pleased with the unprecedented backing of our shareholders who have voted virtually unanimously to exercise the put right, in agreement with the recommendation of the special committee," said John Chapple, Chairman, CEO and President of Nextel Partners.