Printed from http://www.electronista.com

Sprint to sell 3,300 cellular towers for cash

updated 12:25 pm EDT, Thu July 24, 2008

Sprint sells 3,330 towers

National carrier Sprint has signed a deal to sell a massive number of cellular towers, according to an announcement. The company says it is selling approximately 3,300 towers to TowerCo, a deal that should gain Sprint about $670 million in cash. Because the company still needs the towers to maintain coverage, it has arranged a licensing deal with TowerCo that will see it provide CDMA, iDEN and WiMAX support in exchange for a regular leasing fee.

Sprint is reticent to talk about the motives for the deal, except to say it should provide "additional liquidity" that will give the carrier "greater flexibility in managing our company." It is likely however to be a means of coping with harsh declines in its business, as evidenced by the loss of 1 million subscribers in the first quarter of 2008 alone. The company could also lose its independence to SK Telecom, which is based in South Korea.



By Electronista Staff
toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Patriot Supersonic Rage XT 128GB USB drive

USB thumb drives are getting larger by the day, their growth speeding along with the availability and expansion of memory chips. But h ...

Crucial MX100 256GB SATA-3 SSD

While the price-per-gigabyte ratio for magnetic platter-based hard drives can't be beat, the speed that a SSD brings to the table for ...

Narrative Clip

With the advent of social media technology, people have been searching for new ways to share the events of their daily lives -- be it ...

Sponsor

toggle

Most Commented

 
toggle

Popular News