Sprint Nextel Corp

Sprint Nextel Corp. said fourth-quarter profit increased 32% after acquisitions boosted revenue. Net income rose to $261 million, or 9 cents a share, from $197 million, or 7 cents, a year earlier, the Reston, Va.-based company said. Sales advanced 6.7% to $10.4 billion, beating the $10.3-billion average of analyst estimates compiled by Bloomberg. The purchase of affiliates including Nextel Partners Inc. last year helped Sprint make up for the 306,000 customers it lost to rivals such as AT&T Inc.

Sprint Nextel Corp. named Dan Hesse, chairman and chief executive of wire line company Embarq Corp., its new president and CEO. Hesse, who has led Overland Park, Kan.-based Embarq since Sprint spun it off as a separate company a year and a half ago, replaces Gary Forsee, who was ousted from the nation's third-largest wireless provider in October after several quarters of falling subscriber numbers and other operational troubles.

Sprint Nextel Corp. froze pension plans for almost half of its 80,000 employees and won't offer a fixed retirement benefit to new workers as the company cuts labor costs to compete with other wireless carriers. Chief Executive Gary Forsee, who orchestrated the $36-billion merger of Sprint Corp. and Nextel Communications Inc., is revamping the retirement plans as he shifts the company's focus to the wireless business. Cingular Wireless, the largest U.S. mobile-phone services company, and No.

After months of secrecy, Sprint Nextel Corp. said its local telephone division would be named Embarq when it separates this spring to become its own company. Sprint Nextel, based in Reston, Va., unveiled the name and logo to employees and plans a larger marketing blitz after the spinoff in the second quarter.

Sprint Nextel Corp. posted a 55% drop in fourth-quarter profit on costs to absorb Nextel Communications Inc. Net income fell to $197 million, or 7 cents a share, from $437 million, or 29 cents, a year earlier. Sales rose 63% to $11.3 billion, Reston, Va.-based Sprint Nextel said. Costs to integrate Nextel, which Chief Executive Gary Forsee bought for $36 billion, lowered profit by $204 million.

Sprint Nextel Corp. has agreed to acquire UbiquiTel Inc. for $1 billion, continuing a campaign of buying up regional affiliates that have sued over last year's merger between Sprint and Nextel. Conshohocken, Pa.-based UbiquiTel provides wireless service under the Sprint brand name to 452,000 subscribers, including some in California. Reston, Va.-based Sprint Nextel will acquire UbiquiTel's shares for $10.35 each in cash. The stock rose 14 cents to $10.33.

Sprint Nextel Corp. said Chief Operating Officer Len Lauer was leaving, effective immediately. Gary Forsee, president and chief executive, will assume Lauer's responsibilities and the position won't be filled, the Reston, Va.-based company said.

Sprint Nextel Corp. announced that Tim Donahue was leaving as chairman of the struggling cellphone carrier, the company's second departure of a top executive in six weeks. The company did not name a replacement for Donahue, 57, who was chief executive of Nextel before it was acquired by Sprint last year for $35 billion. A Sprint spokesman said that the resignation was voluntary and that it had been expected.

Sprint Nextel Corp., the third-biggest U.S. wireless carrier, posted a $29.5-billion loss and scrapped its dividend after writing down most of the Nextel Communications Inc. acquisition from two years ago. The company's shares sank as much as 13% in New York trading. Sprint reported a fourth-quarter loss of $10.36 a share. Sales fell 5.7% to $9.85 billion, missing analysts' estimates, and the carrier borrowed $2.5 billion under a credit line. The write-down put Nextel's value at 80% less than when it was acquired.

Sprint Nextel Corp. said Monday that it would sell access to RealNetworks Inc.'s Rhapsody radio service, allowing Sprint cellphone users to listen to several radio stations and podcasts. Rhapsody Radio will cost $6.95 a month on top of what Sprint users pay for its Vision Multimedia Service, the wireless company's mobile Internet package. It features stations devoted to alternative, pop, country, R&B and hip-hop.