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In 2005, Sprint and Nextel merged to focus on the massive US wireless market. As a result, Sprint needed to spin-out their “Local Telecommunications Division” into a standalone company, to avoid competing with itself.
With 7.4 million access lines and 20,000 employees across 18 states, Sprint’s “LTD” was a Fortune 500 company in its own right – generating over $6B in annual revenues. But the local telephone business was changing as well, moving beyond simple dial tone service into bundled offerings of local, long distance, high-speed internet, and satellite TV service needed to compete against cable companies now offering low cost VoIP telephony. To survive and grow the spin-out needed to build a new brand:
- A brand that transitions the best equities from the former parent company
- A brand that retains customer loyalty and entices cable customers to switch
- A brand that investors will support and employees will rally around
- A brand that does things differently and earns customer loyalty
- A brand that is about what can be, not what has been
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