Sprint acquired Nextel in 2005 for $35 billion, creating the nation's third-largest wireless company with more than 40 million wirless customers and $40 billion in annual revenue, as reported in this NYTimes.com article.
Recently the company has hit some rough spots with the removal of Len Lauer as president and lackluster second-quarter earnings. August marked a 52-week low in tandem with disappointing subscriber growth and even more worrisome customer loss rates.
Donahue's retirement is no surprise and was just touted as the right time for he and his wife. Retirements can be seen as typical when two companies merge.
Know More about telecommunications mergers at LegalM&A.com.
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