Sprint Forms Special Committee of Independent Directors to Review Unsolicited Proposal From DISH Network Corp.

  Sprint Forms Special Committee of Independent Directors to Review
  Unsolicited Proposal From DISH Network Corp.

Business Wire

OVERLAND PARK, Kan. -- April 22, 2013

Sprint Nextel (NYSE: S) today announced the Board of Directors has formed a
Special Committee of independent directors to review and carefully evaluate
the proposal received from DISH with its financial and legal advisors. The
Special Committee plans to evaluate the proposal and additional information
that the committee has requested from DISH and provide its assessment to the
full Board in due course whether the proposal is, or is reasonably likely to
lead to, a Superior Offer (as defined in the Agreement and Plan of Merger with
SoftBank Corp.). Neither the Board nor Sprint intends to comment further at
this time.

The Special Committee consists of Larry C. Glasscock, James H. Hance, Jr., V.
Janet Hill, William R. Nuti, and Rodney O’Neal. Mr. Glasscock will serve as
Chairman of the Special Committee.

The special committee has retained BofA Merrill Lynch to act as its financial
advisor, and Shearman & Sterling LLP as its legal counsel.

Sprint advises shareholders that they need not take any action at this time in
response to DISH’s proposal pending review by Sprint’s Special Committee.

About Sprint Nextel

Sprint Nextel offers a comprehensive range of wireless and wireline
communications services bringing the freedom of mobility to consumers,
businesses and government users. Sprint Nextel served more than 55 million
customers at the end of 2012 and is widely recognized for developing,
engineering and deploying innovative technologies, including the first
wireless 4G service from a national carrier in the United States; offering
industry-leading mobile data services, leading prepaid brands including Virgin
Mobile USA, Boost Mobile, and Assurance Wireless; instant national and
international push-to-talk capabilities; and a global Tier 1 Internet
backbone. The American Customer Satisfaction Index rated Sprint No. 1 among
all national carriers in customer satisfaction and most improved, across all
47 industries, during the last four years. Newsweek ranked Sprint No. 3 in
both its 2011 and 2012 Green Rankings, listing it as one of the nation’s
greenest companies, the highest of any telecommunications company. You can
learn more and visit Sprint at www.sprint.com or www.facebook.com/sprint and
www.twitter.com/sprint.

Contact:

Sprint Nextel
Media:
Doug Duvall, 571-287-8153
douglas.duvall@sprint.com
or
Investors:
Brad Hampton, 800-259-3755
investor.relations@sprint.com
 
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