'Embarq' Is Name for Sprint Nextel's Spin-off Company
Posted February 2, 2006 8:36 a.m. EST
OVERLAND PARK, KN. — The local telecommunications company that will be spun off from Sprint Nextel will be known as Embarq.
Sprint Nextel disclosed the name and a corporate logo on Wednesday afternoon.
"The company's new name, Embarq, and logo are meant to signal the way we will do business and establish what a next-generation local communications company can be," said Daniel Hesse, who has been designated as the chief executive officer for the company. "This is a company that will be aggressive and innovative in the marketplace, and the new name and logo - with its distinctive and differentiating coloration - is the brand we want customers to remember."
The spin-off of the local phone operation is expected to take place in the second quarter. Once the move is complete, Embarq is expected to trade on the New York Stock Exchange under the symbol EQ.
Embarq will be the fifth largest local telecommunications company in the U.S. with some 7 million access lines and approximately 20,000 employees.
Embarq's local division in the Carolinas is among the company's largest.