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Sprint Nextel

Sprint urges FCC to block AT&T and T-Mobile deal

Wed, 06/01/2011 - 15:37 by Jamie Anderson

The third-largest U.S. mobile network operator, Sprint Nextel, has asked regulators to block AT&T’s proposed takeover of T-Mobile USA, alleging that the deal would thwart competition and lead to higher prices for the subscribers.

Is This Company The Next Telecom Acquisition?

Sat, 12/11/2010 - 12:35 by Jim Royal

 The wireline sector of the telecom industry has seen increasing consolidation in recent years. Remaining players buy up competitors to take advantage of economies of scale and to counter line losses. In the past year, Frontier Communications (NYSE: FTR) picked up a huge chunk ofVerizon's (NYSE: VZ) wireline business. A couple years ago,CenturyLink (NYSE: CTL) picked up Embarq, and it's in the process of buying Qwest (NYSE: Q). And this year Windstream (Nasdaq: WIN) closed the deal on Iowa Telecom.

Sprint to drop iDen network

Tue, 12/07/2010 - 22:56 by Prince damin

Overland Park, Kan. -- U.S. telecommunications giant Sprint Nextel said it would restructure its network over the next seven years to save up to $11 billion.

Sprint said it would spend $5 billion on contracts with Samsung, Alcatel-Lucent and Ericsson to "bring together multiple spectrum bands, or airwaves, on a single, multimode base station." It would also phase out the iDen network, starting in 2013, that it purchased with its $35 billion acquisition of Nextel in 2005.

Sprint said the system would result in greater flexibility, fewer dropped calls and massive savings.

Heavy Reading consultant Berge Ayvazian called Sprint's initiative "a very bold move."

US senators asks administration to look into Sprint-Huawei deal

Mon, 08/23/2010 - 12:08 by Priyanka

According to the Wall Street Journal report this week, a group of senators have asked the Obama administration (via a letter) to look into the proceeding of the deal between US-based Sprint Nextel and China's Huawei Technologies Co. Ltd.

Sprint to ax up to 2,500 jobs

Wed, 11/11/2009 - 09:23 by harsheeb

Overland -- U.S. telecommunications giant Sprint Nextel said it would reduce its payroll by up to 2,500 workers due to falling revenues.

A majority of the jobs scheduled to end would be eliminated by the end of the year, Sprint said.

Sprint cut 8,000 jobs in January, making the recent announcement the second major reduction in the same calendar year, The Kansas City Star reported Tuesday.

In the latest cuts, Spring said it would save $350 million in operational costs. From January's cuts, Sprint said it would save $1.2 billion.

Copyright 2009 by United Press International.

Sprint Nextel settles suit for $17.5M

Wed, 08/12/2009 - 23:12 by surajdogra

Newark, N.J. -- Sprint Nextel said it will pay $17.5 million to settle a class-action lawsuit filed in federal court in New Jersey over early-termination fees.

The bulk of the settlement, $14 million, will go to cash payments to claimants, while $3.5 million will go to non-cash benefits, The Kansas City, (Mo.) Star reported Wednesday.

The suit claimed Sprint overcharged early-termination fees from 1999 through 2008. The overcharges amounted to $1.2 billion, the suit said.

Sprint also agreed to switch to a pro-rated termination fee structure, allowing customers who are closer to the end of their contracts to pay less in termination fees than customers who opt out earlier.

Sprint Nextel to hike stake in Virgin Mobile

Wed, 07/29/2009 - 11:43 by Jamie Anderson

New York, July 29: Sprint Nextel Corp. (NYSE: S), the third largest wireless telecommunications network operator in United States, announced Tuesday that it will acquire the entire 15.3 percent stake that South Korea’s SK Telecom Co. (NYSE: SKM) holds in Virgin Mobile USA Inc. (NYSE: VM). Sprint already owns a 13.1 percent stake in Virgin Mobile.

Economic Outlook: Portfolios plump up

Tue, 05/05/2009 - 19:40 by Inderjit Singh

New York -- U.S. investors found some perspective as the Standard & Poor's 500 index reached positive territory for the year, closing above 900 points.

On Monday, the S&P jumped 29.72 points, but the long-term gains are more noteworthy.

The index the index that reflects a more diverse portfolio than rival indexes, was up 0.44 percent for the year, all the more startling because it hit a 12-year low on March 9, less than two months ago.

The rally has its standouts, including Sprint Nextel, up 173 percent for the year and Ford Motor Co., which separated itself from its rival U.S.

automakers by not accepting government assistance. Ford is up 158 percent since Jan. 1, The New York Times reported Tuesday.