Subject: [NEXTEL-1] Craig McCaw Leaving Nextel Board

From: [email-masked]
Date: Mon, 01 Dec 2003 18:42:02 -0500

Craig McCaw Leaving Nextel Board
By TSC Staff
12/01/2003 06:11 PM EST
URL: http://www.thestreet.com/tech/telecom/10129331.html

Wireless entrepreneur Craig McCaw left Nextel's (NXTL:Nasdaq) board Monday,
eight years after he resuscitated the then-struggling cell-phone outfit with a
billion-dollar investment.

Nextel said McCaw left the board to pursue other opportunities and to make room
for independent directors.

Monday's move comes on the heels of a March announcement that McCaw had trimmed
his Nextel stake down to below 5%.
As part of his 1995 investment, McCaw got the rights to three of the company's
11 board positions as long as his stake
remained at least 5%. But Nextel shares have been on the rise lately after
suffering a head-splitting postbubble hangover, and
McCaw has sharply reduced his investment in the wireless service provider.

Ahead of Monday's postclose announcement, Nextel shares rose 96 cents to $26.29,
a 52-week high. Still, the stock remains but a fraction of its boom-era,
three-digit peak.

McCaw rose to prominence in the 1980s, building the first nationwide wireless
company and then selling it to AT&T (T:NYSE) in the mid-1990s for some $11
billion.

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