February 20, 2009 |
Sprint Nextel Corp., the nation's third-largest wireless carrier, said it continued to lose customers and money in the fourth quarter and wrote down the remaining value of its 2005 purchase of Nextel Communications Inc. Even so, Sprint Nextel's condition has been so poor that investors were able to seize on news that wasn't as bad as usual. Sprint's adjusted loss beat Wall Street expectations, and the company predicted fewer customer losses in the coming year. That sent shares soaring 54 cents, or 20%, to $3.25.
August 4, 2006 |
Sprint Nextel Corp. on Thursday reported weaker-than-expected revenue and wireless subscriber growth in the second quarter and cut its full-year outlook, driving shares down 16% to a two-year low. Hefty merger charges also helped push down profit at the No. 3 U.S. wireless provider, eclipsing its announcement of a $6-billion share buyback. Reston, Va.-based Sprint, which bought Nextel last August, said profit was $370 million, or 10 cents a share.
August 31, 2011 |
The Obama administration Wednesday filed to block AT&T's proposed $39 billion acquisition of wireless rival T-Mobile USA because of anti-competitive concerns. The Justice Department said the acquisition would "remove a significant competitive force" with AT&T and T-Mobile competing in at least 97 of the top 100 U.S. wireless markets, according to court papers obtained by Reuters. Blocking the acquisition on antitrust grounds would deal a blow to the telecommunication giant's expansion plans.
November 8, 2012 |
Sprint Nextel Corp. said it is buying a large chunk of struggling U.S. Cellular Corp., including its hometown Chicago market, for $480 million. The nation's third-largest cellular phone company also is buying U.S. Cellular's operations in St. Louis, central Illinois, Indiana, Michigan and Ohio. The deal, which requires regulatory approval and is expected to close in mid-2013, will transfer spectrum and about 585,000 customers — roughly 10% of U.S. Cellular's subscribers — to Sprint.
August 7, 2008 |
Sprint Nextel Corp. and Qwest Communications International Inc. posted lower second-quarter sales amid heightened competition for telephone customers. Sprint, the third-biggest U.S. wireless carrier, said Wednesday that it recorded a $344-million loss as sales declined 11%. Qwest, No. 3 in the U.S. local-phone market, said profit fell 24% and sales slipped 2.3%. The carriers are losing subscribers to Verizon Wireless and AT&T Inc. and are looking for ways to revive growth.
July 16, 2008 |
SK Telecom Co., South Korea's largest mobile-phone operator, was reported Tuesday to be in talks to buy struggling Sprint Nextel Corp., the third-largest wireless carrier in the U.S. SK Telecom declined to confirm or deny the report from business news channel CNBC. "There is nothing we can say on the report," said Ryu Mina, a spokeswoman for Seoul-based SK Telecom. No deal is imminent and no price has been set, CNBC said, citing people familiar with the talks.
October 31, 2007 |
Verizon Wireless and Sprint Nextel Corp. are in "advanced talks" with Google Inc. about carrying a cellphone powered by the Web company's software, according to a published report. The Wall Street Journal's online edition cited unnamed sources in reporting the talks Tuesday. The paper said Google was expected to announce within two weeks a set of software and services that cellphone makers could use.
April 15, 2013 |
SoftBank Corp., whose bid for 70% of Sprint Nextel Corp. now faces an unexpected challenge from Dish Network Corp., isn't backing down. In a statement released late Monday, the Japanese telecommunications giant said its deal to invest $20.1 billion in the United States' third-largest wireless carrier was better than the unsolicited offer made by Dish. "SoftBank believes that the agreed terms of our transaction with Sprint offer Sprint shareholders superior short- and long-term benefits to Dish's highly conditional preliminary proposal," SoftBank said.
September 20, 2005 |
Sprint Nextel Corp. said Monday that it would sell access to RealNetworks Inc.'s Rhapsody radio service, allowing Sprint cellphone users to listen to several radio stations and podcasts. Rhapsody Radio will cost $6.95 a month on top of what Sprint users pay for its Vision Multimedia Service, the wireless company's mobile Internet package. It features stations devoted to alternative, pop, country, R&B and hip-hop.
October 29, 2005 |
Sprint Nextel Corp. is poised for a full-scale launch of its high-speed wireless network, a service that will include the first over-the-air music download store in the U.S. The newly merged cellphone company was planning a series of major announcements for Monday morning.