RadioShack Declares Bankruptcy, to Sell Stores to Sprint
RadioShack today filed for Chapter 11 bankruptcy protection and signed an agreement to sell approximately 1,750 of its stores to Sprint. Under the terms of RadioShack's Chapter 11 filing, RadioShack will sell the stores to Sprint and General Wireless, a subsidiary of one of RadioShack's major investors. Moving forward, these stores will be co-branded Sprint and RadioShack, with Sprint being the primary brand. Sprint will own about 30% of the real estate within each store to sell Sprint, Boost Mobile, and Virgin Mobile USA products. The remaining 70% will be set aside for RadioShack to sell its own branded gear and other electronics. Sprint did not say what will happen to the AT&T, GoPhone, Net10 Wireless, Verizon Wireless and Tracfone phones that are currently offered by RadioShack. Presumably they will be no longer be sold. Sprint currently has more than 1,100 company-owned retail stores, which would more than double if the transaction is approved. RadioShack listed about $1.2 billion in assets and $1.39 billion in debts. A bankruptcy court will have to approve RadioShack's plans before Sprint can make its purchase official.
ROK Mobile Offering 3 Months of Unlimited for $99
ROK Mobile has rolled out a new promotional rate plan that includes three months of unlimited service for $99. The offer is available to new customers only.
LG Tribute Dynasty Lands at Boost Mobile Stores
Boost Mobile recently added the LG Tribute Dynasty to its lineup of affordable Android smartphones. This device includes a 5-inch HD display and is powered by a 1.5 GHz octa-core MediaTek processor with 2 GB of memory and 16 GB of storage.
Sprint to Sell Motorola Moto E Across Its Prepaid Brands
Sprint today said it plans to sell the Motorola Moto E from Boost Mobile, Virgin Mobile, and Sprint Prepaid this month. The Moto E, which has a larger screen and supports LTE 4G, is available in white from Boost Mobile beginning today for $99.99.
Judge Approves Sale of RadioShack Stores
A U.S. judge has given RadioShack permission to sell its 1,740 stores to Standard General, a hedge fund that plans to operate the stores with Sprint.