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Original Source: FD (FAIR DISCLOSURE) WIRE
. Gary Forsee, Sprint Nextel, Chief Executive Officer . Brian Roberts, Comcast, Chairman & CEO . Glenn Britt, Time Warner Cable, Chairman & CEO . Jim Robbins, Cox Communications, President & CEO . Robert Miron, Advance/Newhouse Communications, Chairman & CEO . Mike Farrell, Multi-Channel News, Reporter . Kathy Chaponey, Prudential Equity Group, Analyst . John Higgins, Broadcasting Cable Magazine . Bernard Grogan, First Manhattan Company, Analyst . John Day, Chicago Tribune, Reporter . Justin Hyde . Ed Arfuchi, Bloomburg News . John Applebaum, Cable World & Cable Facts Daily . Adam Schwartz, First Manhattan Company, Analyst . Mike Angel
CMCSA reported that Sprint Nextel, along with CMCSA, Time Warner, Cox Communications, and Advance/Newhouse has agreed to form a JV that will bring the consumers the best in communication probability, innovative service offerings and applications, and extensive content. In total, $200m is expected to be committed to fund next generation product development and marketing efforts, $100m from Cable and $100m from Sprint Nextel.
S1. Joint Venture Update (G.F.) 1. Details: 1. Sprint Nextel, along with CMCSA, Time Warner, Cox Communications, and Advance/Newhouse has agreed to form a JV that will bring the consumers the best in communication probability (Phonetic), innovative service offerings and applications, and extensive content. 2. Sprint Nextel believes that the JV it is creating will unlock the full potential of wireless and cable by providing new and innovative services that could combine the best of the companies' capabilities.
2. What This Agreement Means For Sprint Nextel: 1. Nearly two years ago and well before the merger with Nextel, Sprint launched an aggressive plan to position Sprint to not only compete but to lead a rapidly changing communications industry. 2. Drawing on the history of innovation and industry first, Sprint began the process of transforming to a market-driven organization rather than a product-driven organization. 1. Center to that objective (Indiscernible) to what customers want which was convergence, the seamless voice, data, video, and multi-media experience.
2. Sprint Nextel also wanted to deliver that experience across a wide breadth of products and services and innovative ways that offer customers the choice and flexibility that fits their business lives. 3. This summer, Sprint completed merger with Nextel, and
announced its intent to spin-off its local operations creating
a co. with not only the size to compete in and of itself, but
with also the consumer and business product focus to enable it to compete in the marketplace where it will operate.
1. Today's announcement is clearly the next step. 2. Through this JV, Sprint intends to enhance the indispensable third screen in people's lives, the wireless being the perfect component to cable TV, and consumers' screens in their offices and in their homes.
3. The agreement puts Sprint well in the road to live in the promise of a new Sprint. 4. Through this partnership, Sprint Nextel gets access to the rich content for which cable is rightly known, (Indiscernible) and distribution channels as well as becoming each others preferred supplier. 5. Sprint Nextel's cable partners will look to add to the long distance and Voice-over-IP, and Sprint Nextel will in turn look to them first for local access services.
4. The partnership is all about serving the customers. 1. In the near future, Sprint Nextel expects to offer consumers the Quadruple Play of wireless voice and data, video, high-speed Internet, and cable phone services. 2. In the TV phone, customers of Sprint, CMCSA, Time Warner Cable, and Cox will be able to: 1. Hear and program the digital video recorders remotely or watch programs that have already been saved on those units. 2. Access voice mail from a single mailbox to serve both their homes and mobile phones. 3. Surf the Internet and send and receive voice mails and email. 4. (Indiscernible) content provided by the cable companies for use on the device. 3. Customer will have the ability to take advantage of these offerings through several readily accessible sales channels,
including thousands of Sprint retail stores across the country, national retail chains, the first of which RadioShack has joined Sprint Nextel, and cable stores and direct-to-consumer marketing channels. 4. Unlike other arrangements, the partners are equally invested participants committing jointly to developing, marketing,
and selling new and innovative services that are enabled by the constant advances and technology in the industry. 5. Each maintains four resale ownership of the customer for their portions of the bundle.
5. Sprint Nextel intends to (Indiscernible) explore how next
generation technology can be used to create new services
including Sprint Nextel's broadband radio spectrum, the 2.5
spectrum, (Indiscernible) further integrating wire line and
wireless services. 6. Sprint Nextel also welcomes making future retail services and content available for the JV. 1. An agreement (Indiscernible) cable companies. 2. In the meantime, Sprint Nextel hopes that Cablevision, MediaCom, Charter, will certainly be invited to join.
S2. Agreement Details (B.R.) 1. Update: 1. The venture is a strategic, creative and economical way to converge Cable's great products with Sprint Nextel's wireless technology. 2. More than a year ago, a group of cable companies here today got together, so the Co. could attempt to accelerate new products and bundles for customers. 3. The Co. wanted to develop a sensible and economical way for it to team up and take advantage of what it saw as an enormous opportunity in …