Sprint PCS Settles Spat with Affiliate
May 17, 2004, 2:05 PM by (staff)
Bankrupt Sprint PCS affiliate Horizon PCS announced today that it has reached agreements with Sprint, which will result in the sale of certain Horizon assets to Sprint and the settlement of all litigation and billing disputes. Sprint will pay Horizon PCS approximately $38 million to acquire 97,000 subscribers and retail store assets in West Virginia and western Virginia. Horizon will also pay $4 million to Sprint as part of the legal settlement.
T-Mobile to Scoop Up Spectrum from nTelos
nTelos has decided to wind down its operations in the eastern half of Virginia and sell its spectrum assets there to T-Mobile. nTelos said it will keep its operations in western Virginia and West Virginia up and running, as it has a stronger retail presence in those areas.
Sprint Settles Lawsuit Over Nextel Merger for $131 Million
Sprint today settled a class-action lawsuit regarding its 2005 acquisition of Nextel for $131 million. Investors claim Sprint executives defrauded shareholders by inflating stock and bond prices after Sprint closed its acquisition of Nextel.
Sprint Expands LTE and Spark to More Markets
Sprint today increased the footprint of its LTE 4G network and its Sprint Spark service. Sprint LTE is now available in 41 new cities around the country, bringing the total to 443 cities and 225 million people.
Sprint Allowed to Settle Cramming Charges for $50M
Sprint has settled accusations with the Consumer Financial Protection Bureau that it over-billed customers for unwanted services. In May, the FCC fined Sprint $68 million for adding third-party services to customer bills without customer permission — a practice known as cramming.