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BUSINESS
September 24, 1994 | From Times Staff and Wire Reports
Sprint Corp. has been sued by the National Labor Relations Board, which charged that the telephone company shut down a plant and laid off 235 workers to stop them from organizing a union.
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BUSINESS
August 31, 2005 | From Bloomberg News
Sprint Nextel Corp. agreed to buy two affiliates for $714.5 million, ending some of the legal fights that sprang from the Sprint-Nextel merger. The company plans to acquire Gulf Coast Wireless for $287.5 million, including an unspecified amount of debt, and IWO Holdings Inc. for $427 million, including $208 million of net debt. The purchases will add more than 332,000 customers and help Chief Executive Gary Forsee's effort to resolve disputes with the Reston, Va.-based company's affiliates.
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BUSINESS
July 14, 2005 | From Bloomberg News
The letter S will have a new meaning at the New York Stock Exchange. Sprint Corp. will adopt the letter as its ticker symbol after buying Nextel Communications Corp. for $36 billion, a transaction that stockholders of the mobile-phone companies approved Wednesday. Sears, Roebuck & Co. surrendered the S symbol in March when Kmart Holding Corp. took it over. Sprint now trades under the symbol FON.
BUSINESS
August 11, 2005
Sprint Corp. said it would complete its acquisition of Nextel Communications Inc. on Friday and begin trading as a unified stock Monday. The combination will form the third-largest wireless provider in the country.
BUSINESS
March 26, 1999
Sprint Corp. said the head of its long-distance operations, Patti Manuel, has resigned for personal reasons. Sprint said that instead of replacing Manuel, it will have its consumer and business long-distance units report to Ronald LeMay, Sprint's president and chief operating officer. The new structure is the first step in organizing the company along market segments instead of product lines.
BUSINESS
April 13, 1999 | Reuters
* Sprint Corp. agreed to acquire People's Choice TV Corp., a wireless cable company, for $103 million. The wireless licenses controlled by People's Choice would allow Sprint, the No. 3 U.S. long-distance company, to reach customers' homes or businesses directly without going through Baby Bells' local phone networks. Sprint said it will pay $8 a share for People's Choice, a 30% premium over Friday's closing stock price. Shares of People's Choice jumped $1.25 to close at $7.
BUSINESS
September 24, 2002 | Bloomberg News
Sprint Corp. is losing mobile-phone customers at a faster rate than it adds them for the first time, partly because some are not paying bills. Sprint's PCS unit expects the rate of service cancellations to rise to a "high 3% range" in the third quarter, from 2.9% in the second period. PCS profit, excluding certain costs, will miss the company's forecast. Shares that track the PCS unit fell 16 cents to $2.58 on the New York Stock Exchange.
BUSINESS
August 31, 2002 | Bloomberg News
Thomas H. Lee Partners, Spectrum Equity Investors and R.H. Donnelley Corp. are the remaining bidders for Sprint Corp.'s telephone-book business, people familiar with the situation said. The companies have offered $1.75 billion to $2 billion for the business, and the winning bidder may be announced as early as next week, the people said. Sprint's shares Friday slipped 40 cents to close at $11.60 on the NYSE. They have fallen 42% this year.
BUSINESS
February 24, 2005 | From Reuters
U.S. antitrust authorities have extended their review of No. 3 U.S. wireless carrier Sprint Corp.'s planned acquisition of rival Nextel Communications Inc. Antitrust lawyers have said they expected a second request for information in part because of the size of the deal in a rapidly consolidating industry. Nextel's proposed acquisition by Sprint, which also is a traditional local and long-distance provider, is currently valued at $33.8 billion. Nextel rose 44 cents to $28.
BUSINESS
March 20, 1997 | (Reuters)
Sprint Corp. said a takeover of the company by Britain's Cable & Wireless "could not be possible" because of agreements with France Telecom and Deutsche Telekom, which own pieces of Sprint. The Wall Street Journal reported Wednesday that Cable & Wireless was considering a takeover bid worth at least $15 billion for Sprint, the No. 3 U.S. long-distance company.
BUSINESS
July 22, 2005 | From Bloomberg News
Sprint Corp. and Cingular Wireless were accused by a consumer group of improperly charging cellphone customers for unwanted services. In complaints filed this week, the Utility Consumers' Action Network asked the California Public Utilities Commission to stop Cingular, the largest U.S. cellphone carrier, and Sprint from charging for unwanted text messages and other services. Sprint, the third-largest U.S.
BUSINESS
July 14, 2005 | From Bloomberg News
The letter S will have a new meaning at the New York Stock Exchange. Sprint Corp. will adopt the letter as its ticker symbol after buying Nextel Communications Corp. for $36 billion, a transaction that stockholders of the mobile-phone companies approved Wednesday. Sears, Roebuck & Co. surrendered the S symbol in March when Kmart Holding Corp. took it over. Sprint now trades under the symbol FON.
BUSINESS
July 12, 2005 | From Associated Press
Sprint Corp. said Monday that it was buying affiliate U.S. Unwired Inc. for about $1 billion, ending that company's attempt to block Sprint's planned merger with Nextel Communications Inc. The acquisition, coming only days before shareholders of Sprint and Nextel vote on their companies' $35-billion combination, would settle what has been a difficult relationship between Sprint and one of its largest regional affiliates. As part of the agreement, the two sides will ask the U.S.
BUSINESS
July 7, 2005 | Richard Verrier, Times Staff Writer
Walt Disney Co. is going mobile. The Burbank entertainment company said Wednesday that it planned to sell by next year Disney-brand mobile phones and services that use the Sprint Corp. wireless network, targeting families as customers. Under the arrangement, Disney would be responsible for all aspects of the Disney Mobile service, including marketing, customer relations and billing. Disney Mobile would feature entertainment and services tailored for parents and children.
BUSINESS
June 15, 2005 | From Reuters
Sirius Satellite Radio Inc. said it reached a deal to supply music channels to telecommunications company Sprint Corp. in a mobile phone service to be introduced later this year. The agreement is aimed at getting more listeners for Sirius' subscription radio service and is part of plans at Sprint to extend entertainment services it has recently begun to deliver to mobile phones.
BUSINESS
February 24, 2005 | From Reuters
U.S. antitrust authorities have extended their review of No. 3 U.S. wireless carrier Sprint Corp.'s planned acquisition of rival Nextel Communications Inc. Antitrust lawyers have said they expected a second request for information in part because of the size of the deal in a rapidly consolidating industry. Nextel's proposed acquisition by Sprint, which also is a traditional local and long-distance provider, is currently valued at $33.8 billion. Nextel rose 44 cents to $28.
BUSINESS
October 15, 2003 | From Bloomberg News
Sprint Corp., the third-largest U.S. long-distance telephone company by sales, said the U.S. government decided not to suspend it from receiving new contracts. In August, the General Services Administration's inspector general recommended that the agency consider barring Sprint from U.S. work for allegedly defrauding federal clients. A debarment won't be pursued, Sprint said.
BUSINESS
February 11, 2003 | From Bloomberg News
BellSouth Corp. won extension of a court order preventing Vice Chairman Gary Forsee from becoming chief executive of rival telephone company Sprint Corp., with a judge ordering the dispute to be resolved in arbitration. The restraining order against Forsee, obtained by BellSouth in a Georgia court Jan. 31, was extended 30 days by the judge, according to legal documents.
BUSINESS
February 4, 2005 | From Bloomberg News
Sprint Corp., the third-largest U.S. mobile-telephone carrier, said fourth-quarter profit surged as growing demand for wireless calling boosted sales. Net income rose to $437 million, or 29 cents a share, from $110 million, or 8 cents, a year earlier, when profit was cut by costs for scrapping a billing system. Sales rose 3.7% to $6.93 billion, Overland Park, Kan.-based Sprint said.
BUSINESS
December 30, 2004 | From Associated Press
Sprint Corp. and Time Warner Cable are discussing a deal that would allow the cable provider to offer cellphone service, the companies said Wednesday. Such a deal would make the unit of Time Warner Inc. the only major cable company to offer the so-called quadruple play -- television, high-speed Internet access and both traditional and wireless phone service.
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