While Sprint Nextel Corporation (NYSE: S ) still lags behind Verizon Communications Inc. (NYSE: VZ ) and AT&T Inc. (NYSE: T ) in the U.S., it had a liquidity of $9.5 billion as of December 2012. But the company's $1.32 billion loss in the fourth quarter makes it clear that it has to do something. Analysts say a merger between DISH and Sprint Nextel Corporation (NYSE: S ) could provide serious competition for Verizon Communications Inc. (NYSE: VZ ) and AT&T Inc. (NYSE: T ), which dominate the cell phone market due in part to their internet and TV services.