updated 04:10 pm EDT, Mon October 19, 2009
Sprint buys out iPCS for $831m
Sprint on Monday said it would buy out one of its affiliate carriers, iPCS, for $831 million. The deal puts the smaller company's push-to-talk iDEN phone service directly under Sprint's control and settles a legal battle between the two that had blocked Sprint from advertising its network and might have prevented Sprint from selling service in those areas. Under the new agreement, Sprint would no longer need to sell off parts of its network in iPCS areas.
The takeover needs government approval but is expected to complete at the very end of 2009 or early in 2010.
Sprint's move marks a further unifying effect on all its businesses. The company earlier this year bought Virgin Mobile USA and has extensive control of both the push-to-talk and pay-as-you-go phone markets in the US.