Exhibit 99
[SPRINT NEXTEL LOGO] News Release
Sprint Nextel
2001 Edmund Halley Drive
Reston, VA 20191
Media Contacts:
James Fisher, 703-433-8677
james.w.fisher@sprint.com
Susan Johnston, 425-576-3617
Susan.johnston@nextelpartners.com
Investor Relations Contact:
Kurt Fawkes, 800-259-3755
investor.relations@sprint.com
SPRINT NEXTEL COMPLETES ACQUISITION
OF NEXTEL PARTNERS
o Sprint Nextel Acquires More Than 2.1 Million Customers
o Extends Company's iDEN Service Territory to an Additional 54 Million
People
RESTON, Va. - June 26, 2006 - Sprint Nextel Corp. (NYSE: S) announced today the
completion of its acquisition of Nextel Partners for approximately $6.5 billion,
representing $28.50 per share of Nextel Partners Class A Common stock. Sprint
Nextel, which previously owned approximately 31 percent of Nextel Partners
common stock, now controls licensed wireless spectrum in 58 additional markets,
reaching about 54 million additional people in mid-sized and rural markets in 31
states. With the acquisition, Sprint Nextel has approximately 51 million
wireless subscribers, based on first quarter 2006 reporting.
"The acquisition of Nextel Partners marks another important milestone as Sprint
Nextel executes our vision of converging our unique wireless and Internet
wireline assets to create an entirely new suite of mobility and IP-based
products and services for our customers," said Sprint Nextel President and CEO
Gary Forsee. "With this acquisition, and the expanded Nextel iDEN network
footprint, we will be able to offer customers in Nextel Partners' territories
the full range of products and services more quickly and efficiently, and we
will benefit from managing this part of our business under a consolidated
organization and cost structure."
The acquisition will be seamless for Nextel Partners' subscribers and all
existing sales and customer service channels will remain in place as Sprint
Nextel executes a plan to gradually integrate those subscribers and support
functions into its existing operations.
The Federal Communications Commission announced its approval of the purchase and
transfer of more than 6,000 licenses on June 20, and the purchase has received
all other required approvals.
Nextel Partners' stock (NASDAQ: NXTP) ceased trading on the NASDAQ stock
exchange after the market closed today.
About Sprint Nextel
Sprint Nextel offers a comprehensive range of communications services bringing
mobility to consumer, business and government customers. Sprint Nextel is widely
recognized for developing, engineering and deploying innovative technologies,
including two robust wireless networks offering industry leading mobile data
services; instant national and international walkie-talkie capabilities; and an
award-winning and global Tier 1 Internet backbone.
"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 company's product and services and plans
to integrate Nextel Partners' customers and operations. 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 risks that are described from time to time in Sprint
Nextel's reports filed with the SEC, including its annual report on Form 10-K
for the year ended December 31, 2005, as amended, and its quarterly reports on
Form 10-Q filed in 2006. This document speaks only as of its date, and Sprint
and Nextel each disclaims any duty to update the information herein.