October 25, 2002 |
Nextel Communications Inc. posted a profit for the second straight quarter in a highly competitive wireless telephone industry on strong demand. Nextel said it was helped by increased business from the construction and government sectors, lower capital spending and outsourcing customer service and computer operations. Reston, Va.-based Nextel reported net income of $383 million, compared with a loss of $150 million in the same quarter a year ago. Shares of Nextel, the No. 5 U.S.
May 4, 2004 |
Nextel Communications Inc. offered to pay an additional $362 million to clear some local-TV operations from airwaves the company wants as part of a plan to cut interference between police radios and mobile phones. The amount is in addition to $850 million Nextel has offered to pay to reprogram radios for police and other users that would switch frequencies to a different part of the radio spectrum. The Reston, Va.
March 7, 2003 |
Craig McCaw is relinquishing control of Nextel Communications Inc., the company he helped build into the fifth-biggest provider of mobile-phone service in the U.S. McCaw, 53, will reduce his stake in Nextel to less than 5% from more than 10%, losing the right to three of 11 board seats. Shares of Reston, Va.-based Nextel shares slipped 42 cents, or 3.3%, to $12.47 on Nasdaq.
February 18, 2005 |
Nextel Communications Inc., the wireless telephone company being bought by Sprint Corp., said fourth-quarter profit fell 26%. Sales surged, led by the company's Boost Mobile unit aimed at younger clients. Net income dropped to $471 million, or 41 cents a share, from $634 million, or 55 cents, a year earlier, when the company had a gain from the sale of investments. Sales rose 19%, the Reston, Va.-based company said. Profit was cut by an income tax provision of $232 million.
May 2, 1995
American Mobile Systems Inc., a Woodland Hills company that provides mobile radio services in Florida, agreed last week to be acquired by wireless communications giant Nextel Communications Inc. in a stock deal valued at about $65 million. Nextel, based in New Rutherford, N.J., already owns about 10% of American Mobile's shares.
April 7, 1999
MCI WorldCom Inc., the No. 2 U.S. long-distance company, is in preliminary talks to buy wireless phone company Nextel Communications Inc., people familiar with the matter told Reuters. The companies declined comment. A deal could be blocked by several factors, including price, Nextel's substantial $7.7-billion debt, and the aversion of MCI Chief Executive Bernie Ebbers to acquisitions that hurt the company's profit, industry sources said.