Industry Moves: Sprint Nextel Shake-up Continues As Chairman Leaves

Sprint Nextel Chairman Tim Donahue is retiring at the end of the board. No word on his replacement as executive chairman yet but Liberty Media vet Robert “Dob” Bennett, president of Discovery Holding Co. joins the board now. Liberty Media owns 3 percent of Sprint (less than 1 percent of voting power) as part of its Liberty Capital tracking stock.
Donahue, former CEO of Nextel. is the second high-profile departure — COO Len Lauer was ousted in August — as Sprint struggles, the latest merged mega-company to see its stock price suffer as results are hard to come by; it has lost 30 percent of its value in the last six months. Sprint plays a singular (pardon the pun) role in the content world as an MVNO backend and the cableco’s primary wireless partner. Release.
Related: Earnings: Cable Both Blessing, Curse For Sprint Nextel

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