Sprint-Nextel Merger Official Today

It's official: Sprint PCS and Nextel announced today the details of their rumored merger. A new company called Sprint-Nextel will be formed with management from both companies. It will generate savings of about $12 billion, by reducing cell sites, cutting on marketing costs, etc. After the merger completes in 2005, Sprint-Nextel will be a bigger number 3 player, with 38.5 to 40 million customers (sources disagree), after Cingular and Verizon Wireless.

This second merger in 2004 has the American cellular landscape considerably changed. Customers will now have only 4 major players among which to choose, from 6 at the beginning of the year. And now, who is T-Mobile gonna merge with?

News.com: Sprint-Nextel Merger