BEDMINSTER, NJ and RESTON, Va — Verizon Wireless (NYSE:VZ, NYSE and LSE:VOD) and Nextel Communications Inc. (NASDQ:NXTL) announced today they have reached an agreement to resolve all their legal disputes. The two companies are dismissing their pending lawsuits against each other, and releasing each other from all other existing claims. Nextel also agreed to forego any trademark and other ownership rights to the phrase "Push To Talk," "PTT," and all related "PUSH" names. Both parties retain the right to utilize those terms in connection with the marketing of their services. Verizon Wireless has agreed not to oppose the Federal Communications Commission's decision to realign the 800 MHz band, including Nextel's receipt of spectrum in the 1.9 GHz band. Other terms of the settlement were not disclosed.
Further, in the spirit of cooperation, Verizon Wireless and Nextel each have committed to work together, along with the Cellular Telecommunications and Internet Association, to protect wireless customers from harmful regulation and unfair taxation.