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Technology Stocks : Broadband Wireless Access [WCII, NXLK, WCOM, satellite..]
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To: transmission who wrote (675)9/22/1999 10:55:00 AM
From: SteveG  Read Replies (1) of 1860
 
Paine Webber on NXLK

NXLK: Ex-Nextel head Dan Akerson named CEO
September 22, 1999
KEY POINTS
* This morning, ex-Nextel CEO Dan Akerson was named CEO of NEXTLINK
Communications in a move that broadens the company's leadership and sets the
stage for the company to advance to the next level.
* Mr. Akerson is widely recognized as having executed the turnaround
at Nextel Communications, growing that business into one of the leading
mobile wireless carriers in the country.
* His appointment brings to NEXTLINK a strong base of telecom
knowledge and experience. Prior to Nextel, Akerson served as Chairman and
CEO of General Instrument and in various senior level positions at MCI
including President and COO and currently serves as a director of American
Express and America Online.
* The management change in no way reflects any weakness in the current
operations of the company. We spoke with management yesterday and have
confidence in our third quarter estimates for revenue of $70.1 million and
EBITDA losses of $59.1 million. We continue to expect the company to add
65,000 lines during the quarter.
* This move is characteristic of the McCaw organization and
demonstrates the tremendous value of his sponsorship in attracting the top
management talent within the industry.
* We continue to rate NEXTLINK shares a Buy with a 12-month price
target of $68 per share based on our DCF analysis. The company's access to
capital, management team and asset mix position the company to become a
major competitor in the domestic telecommunications market.

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