Exhibit 99
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Sprint Media Contact: Nextel Media Contact:
Nick Sweers, 913-794-3460 Russell Wilkerson, 703-433-3063
nicholas.sweers@sprint.mail.com albert.wilkerson@nextel.com
SPRINT AND NEXTEL COMMUNICATIONS ANNOUNCE NEW
BRANDING AND LOGO TO BE USED BY COMBINED COMPANY
Broad market appeal of Sprint brand to lead combined company's go-to-market
presence; Nextel to be prominently promoted as a product-line
OVERLAND PARK, Kan., and RESTON, Va. - June 23, 2005 - Sprint (NYSE: FON) and
Nextel Communications Inc. (NASDAQ: NXTL) today announced details surrounding
the brand strategy and logo to be used upon completion of the companies' merger,
expected in the third quarter of 2005, pending shareholder and regulatory
approvals. The new go-to-market brand name of the combined Sprint Nextel will be
Sprint, with the Nextel name continuing as a key product brand.
The two companies announced their agreement to merge on Dec. 15, 2004, with a
commitment to create America's premier communications company -- offering a
comprehensive range of wireless and wireline services to consumer, business and
government customers.
"The companies are in the enviable position of possessing two incredibly
valuable brands with overwhelming positive and powerful equity in the
marketplace," said Mark Schweitzer, designated Chief Marketing Officer for the
new company and Nextel's current senior vice president of marketing. "Our brand
strategy and logo will integrate the most valuable assets of each company's
identity."
The Sprint Master Brand
Given its broad market awareness and its history of innovation, the Sprint name
was chosen as the lead go-to-market brand name for the new company. Combining
the rich attributes of the Sprint brand with the entrepreneurial,
instant-communications traits represented by highlighting Nextel's presence in
the product line offers strong positioning for the combined company. This
approach was validated through consultation with research firms specializing in
brand and name recognition, and with customers and employees, confirming
Sprint's consistent ratings as one of the most recognized communications brands
in the United States. "The Sprint name, brand attributes and the sentiment they
evoke in minds of consumers are relevant today and provide a great foundation
for the future. The combination of these characteristics of the Sprint name with
the infusion of Nextel's professional-grade characteristics and key elements of
the Nextel visual identity are consistent with what the new company aspires to
be in the future," said Schweitzer.
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Nextel as a Product Brand
Nextel, which currently enjoys among the highest loyalty ratings with customers
in the wireless industry, is synonymous with wireless business-oriented products
and services such as Nextel's instant, nationwide, digital walkie-talkie
service. The combined company will employ the Nextel name as a product brand
within the Sprint service portfolio for services provided on Nextel's iDEN
network. Solutions carrying the Nextel brand will be geared toward selected
businesses, public-sector customers and those high-value individuals who have
proven to be avid users of Nextel services.
The New Logo
Blending elements of Sprint's signature "pin drop" - representing clarity - and
Nextel's bold yellow and black colors - which command attention - the new logo
is a powerful symbol for the new Sprint as a forward-moving, energetic and
dynamic brand. Additionally, in advertising, the new Sprint visual treatment
will include the line, "Together with Nextel," as a reminder of the equity of
these two strong brands coming together as one. Separately, in advertising
featuring Nextel products and services in the combined company's markets, there
will be a Nextel visual treatment that uses the current Nextel logo with the
language "Together with Sprint."
NASCAR NEXTEL Cup Series (TM)
The new company will be committed to its partnership with NASCAR and its more
than 75 million fans. The NASCAR NEXTEL Cup Series (TM) will maintain its
current series branding through 2006, and decisions regarding the series name
and branding beyond that season are expected to be made prior to the NASCAR
NEXTEL Cup Series season opener in 2006.
About Sprint Nextel
Sprint Nextel Corporation will serve as the corporate name of the combined
company once the merger is approved.
About Sprint
Sprint offers an extensive range of innovative communication products and
solutions, including global IP, wireless, local and multiproduct bundles. A
Fortune 100 company with more than $27 billion in annual revenues in 2004,
Sprint is widely recognized for developing, engineering and deploying
state-of-the-art network technologies, including the United States' first
nationwide all-digital, fiber-optic network; an award-winning Tier 1 Internet
backbone; and one of the largest 100-percent digital, nationwide wireless
networks in the United States. For more information, visit www.sprint.com/mr.
About Nextel Communications
Nextel Communications, a FORTUNE 200 company based in Reston, Va., is a leading
provider of fully integrated wireless communications services and has built the
largest guaranteed all-digital wireless network in the country covering
thousands of communities
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across the United States. Today 95 percent of FORTUNE 500 companies are Nextel
customers. Nextel and Nextel Partners, Inc. currently serve 297 of the top 300
U.S. markets where approximately 263 million people live or work.
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995
A number of the matters discussed in this document that are not historical or
current facts deal with potential future circumstances and developments, in
particular, information regarding the new company, including expected synergies
resulting from the merger of Sprint and Nextel, future technology plans, and
whether and when the transactions contemplated by the merger agreement will be
consummated. The discussion of such matters is qualified by the inherent risks
and uncertainties surrounding future expectations generally, and also may
materially differ from actual future experience involving any one or more of
such matters. Such risks and uncertainties include: the result of the review of
the proposed merger by various regulatory agencies, and any conditions imposed
on the new company in connection with consummation of the merger; approval of
the merger by the stockholders of Sprint and Nextel and satisfaction of various
other conditions to the closing of the merger contemplated by the merger
agreement; and the risks that are described from time to time in Sprint's and
Nextel's respective reports filed with the SEC, including each company's annual
report on Form 10-K for the year ended December 31, 2004 as amended, and their
respective quarterly reports on Form 10-Q for the quarterly period ended March
31, 2005. This document speaks only as of its date, and Sprint and Nextel each
disclaims any duty to update the information herein.
Additional Information and Where to Find It
Sprint Corporation has filed a Registration Statement on Form S-4 with the SEC
(Reg. No. 333-123333) containing a definitive joint proxy statement/prospectus
regarding the proposed transaction. SHAREHOLDERS OF SPRINT AND SHAREHOLDERS OF
NEXTEL ARE ENCOURAGED TO READ THE REGISTRATION STATEMENT AND ANY OTHER RELEVANT
DOCUMENTS FILED WITH THE SEC INCLUDING THE DEFINITIVE JOINT PROXY
STATEMENT/PROSPECTUS THAT IS PART OF THE REGISTRATION STATEMENT BECAUSE THEY
CONTAIN IMORTANT INFORMATION ABOUT THE COMBINATION. The definitive joint proxy
statement/prospectus has been mailed to shareholders of Sprint and shareholders
of Nextel. Investors and security holders will be able to obtain the documents
free of charge at the SEC's web site, www.sec.gov, from Sprint Investor
Relations at Sprint Corporation, 6200 Sprint Parkway, Overland Park, Kansas
66251, 800-259-3755, option 1 or from Nextel Investor Relations at 2001 Edmund
Halley Drive, Reston, Virginia 20191, 703-433-4300.
Participants in Solicitation
Sprint, Nextel and their respective directors and executive officers, other
members of management and employees and the proposed directors and executive
officers of the combined company, may be deemed to be participants in the
solicitation of proxies in
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respect of the combination. Information concerning the proposed directors and
executive officers of the combined company, Sprint's and Nextel's respective
directors and executive officers and other participants in the proxy
solicitation, including a description of their interests, is included in the
definitive joint proxy statement/prospectus contained in the above-referenced
Registration Statement on Form S-4.