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 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.
Sprint to Sell Nexus 6 November 14
Sprint today said the Nexus 6 smartphone will reach its retail stores, web site, and telesales channels on November 14. Sprint is offering the Nexus 6 through its Easy Pay program for $0 down followed by 24 monthly payments of $29.
Sprint to Sell Certain Network Assets for $2.2 Billion
Sprint has agreed to sell select network assets to a company called Network LeaseCo and then lease back those assets for an unspecified sum. The move is meant to boost Sprint's cash position and will eventually add $2.2 billion to the company's coffers.