Published on May 13th, 2008 | by Michael J Smith2
Sprint Loses $505M in 1Q, Denies Nextel Sale
Sprint Nextel reported a $505 million loss in the first quarter, according to the New York Times. Sprint lost 1.1 million subscribers in the quarter, which brings the total number down to 52.8 million.
But, despite the somber news, the Wall Street Journal is reporting that Chief Executive Dan Hesse intends “to put renewed emphasis on Nextel, such as offering new handsets for users, including a BlackBerry with Wi-Fi capabilities.” He also replied to rumors that Sprint was planning to sell Nextel, saying that the company wants to reinvigorate Nextel.
But, Sprint may still sell off some “non-core assets.”
Not sure what this means for NASCAR, but logic would say that there’s a reason the Cup series name was changed. I know Sprint always intended to phase out the Nextel name, but I bet they also figured that if it came down to it, they could make the company a little more portable by dropping the name from assets that Sprint wanted to keep all along.