Sprint buying some US Cellular markets for $480M

Nov 07, 2012

(AP)—Sprint says it's reached a deal to buy U.S. Cellular markets in the Midwest for $480 million to boost its network capacity as it upgrades its network.

Overland Park, Kan.-based Corp. says it's buying spectrum and 585,000 customers in Illinois, Indiana, Michigan, Missouri and Ohio.

That's 10 percent of U.S. Cellular's customer base and includes the Chicago company's Chicago and St. Louis markets.

The acquisition is expected to close in the middle of next year.

Sprint shares are down 6 cents, or 1 percent, to $5.67 in premarket trading. U.S. Cellular Corp. stock is unchanged before the opening bell.

Explore further: HBO Now will be available through Android too this summer

0 shares

Related Stories

Sprint loss widens on Nextel, iPhone lifts sales

Apr 25, 2012

(AP) -- The impending shutdown of the Nextel network doubled Sprint Nextel Corp.'s loss in the first quarter, it said Wednesday, as it wrote down the value of the network and subscribers kept leaving it.

Sprint seeks majority control of Clearwire (Update)

Oct 18, 2012

(AP)—Flush with the promise of cash from a Japanese investor, Sprint Nextel Corp. on Thursday said that it wants to buy out the founder of Clearwire Corp. to gain majority control of the wireless network operator.

Sprint pledges support to Clearwire

Dec 01, 2011

(AP) -- Sprint Nextel Corp. is mending fences with independent subsidiary Clearwire Corp., pledging Thursday to use the data network Clearwire is planning to build and to participate if the company raises more capital.

Sprint ends deal with LightSquared

Mar 16, 2012

(AP) -- Sprint Nextel Corp. is ending its spectrum hosting agreement with LightSquared, whose network looks doomed because regulators say it interferes with GPS navigation devices.

Sprint: No more Clearwire devices after 2012

Oct 07, 2011

(AP) -- Sprint Nextel Corp. said Friday that it will stop selling phones and other devices compatible with Clearwire Corp.'s network at the end of next year, as it switches customers to its own higher-speed, fourth-generation ...

Clearwire 1Q revenue drops from 4Q on Sprint deal

Apr 26, 2012

(AP) -- Clearwire Corp., which runs a wireless data network, on Thursday reported its first drop in quarter-over-quarter revenue, as a new deal with major customer Sprint Nextel Corp. kicked in.

Recommended for you

Germany auctions off new mobile phone frequencies

May 27, 2015

Germany on Wednesday started an auction of frequencies for mobile phone operators, pledging that users will soon enjoy nationwide super-fast 4G coverage without "black holes" in rural areas.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.