Nextel (NXTL) and Verizon Wireless are putting aside their differences.
Nextel agreed not to oppose Verizon Wireless' use of the term "push-to-talk" when marketing a competing walkie-talkie service. And Verizon Wireless, a joint venture of
, agreed not to oppose the pending radio spectrum swap that would give Nextel new wireless frequencies in the 1.9-gigahertz band.
Nextel had originally sued Verizon Wireless for infringing on its push-to-talk brand, claiming it was trademarked. And Verizon Wireless has long opposed the
Federal Communications Commission's
plan to give Nextel valuable new spectrum in exchange for radio waves it occupied in the 800-megahertz band.
Nextel proposed the swap to prevent cell-phone transmissions from interfering with emergency services communications. The FCC has voted to grant Nextel a swap and require the company to pay about $3.2 billion for relocation and spectrum costs. Verizon had been the biggest opponent of the deal.
Nextel shares rose 91 cents, or 3%, to $27 in premarket trading Tuesday. Meanwhile, Verizon was unchanged.