FCC Approves Sprint-Nextel Merger
Sprint and Nextel received FCC approval Wednesday afternoon to complete a $35 billion merger the two companies agreed to on December 15. The newly formed carrier, to be called Sprint Nextel, will have a combined 44.4 million subscribers, the third largest carrier behind Cingular and Verizon. The merger is expected to close shortly, the companies say.
"We'd like to thank the Commissioners and staff at the FCC for the many long hours and thoughtful review they've given this proposed merger," said Gary Forsee, chairman and CEO of Sprint. "The combined company will enable us to bring stronger wireless competition to all customers, expand our portfolio of consumer devices and data services that focus on content, media and entertainment, and deliver enhanced business and government applications that truly bring to life the convergence model of tomorrow."