Word: nextel
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Dates: during 1990-1999
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...Nextel hook up to compete with AT&T in cellular phones...
Times change. In a stunning reversal last week, MCI announced a deal to acquire 17% of the same venture, Nextel Communications, for a whopping $1.3 billion. "Things were different then," says MCI chairman Bert Roberts Jr. "MCI faces an entirely new world today...
...hooking up with Nextel, MCI becomes an instant force in the emerging market for wireless communications. While wireless will not make up the backbone of the information superhighway, whose basic construction material remains fiber-optic or coaxial cable, portable phones, along with pagers and beepers, will be powerful extensions of the electronic network. Companies ranging from AT&T and Motorola to Time Warner and Bell South are racing to develop their own new portable-telephone systems, which will one day compete with existing cellular networks and traditional wall-jack phones. The wireless market is expected to increase sixfold...
...biggest prizes in the all-out war for the public airwaves. The reason: high-tech companies have figured out how to profitably rebuild the antiquated dispatching system into an advanced cellular-telephone network that can take on the likes of AT&T and the giant Baby Bells. Upstart Nextel Communications sent shock waves through the industry last week when it agreed to buy Motorola's SMR frequencies for $1.8 billion...
With the 2,500 radio frequencies acquired from Motorola, Nextel will have the potential to serve 180 million customers in 21 states, including 45 of the 50 largest cities. That would give the Rutherford, New Jersey, company access to nearly three times the number of customers now covered by McCaw Cellular , Communications, the nation's biggest cellular operator, which is being acquired by AT&T for $12.6 billion. Even though it will cost at least $2.5 billion to rebuild the SMR system into a cellular network, Nextel, which is backed by Comcast Corp. and Japan's Matsushita & Nippon Telegraph...