Read more Tim Donahue stories on Newserhttp://www.newser.com/taggrid/17959/tim-donahue.htmlhttp://img1-cdn.newser.com/images/newser-black250x40.gifhttp://www.newser.com/2012 - Newseren-usNewser Feed GeneratorWed, 23 May 2012 17:23:31 CDThttp://www.newser.com/story/12923/struggling-sprint-rejects-5b-offer.htmlJane Yager<img src='http://img1-cdn.newser.com/getimage.aspx?mediaid=50806&width=45&height=45&crop=Y&updateddate=20110401025147' border='0' />A bid by SK Telecom and Providence Equity to invest $5B in Sprint Nextel and install former Sprint chairman Tim Donahue as the company CEO has met with swift rejection from the Sprint board. The move comes as Sprint, which has seen its stock plumet 36% since June, searches for...A Sprint phone store sign is enveloped by sunlight and shadows in this Feb. 28, 2007 file photo, in Murray, Utah. Sprint Nextel Corp., the nation's third-largest wireless carrier, said Wednesday, May 2, 2007 it swung to a first-quarter loss as bigger investments in operations wiped out modest gains in sales and it lost high-quality subscribers. (AP Photo/Douglas C. Pizac, file)http://www.newser.com/story/12923/struggling-sprint-rejects-5b-offer.htmlFri, 30 Nov 2007 04:57:14 CST