Sprint sells off its towers

Sprint sells off its towers

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Published on: 25 July, 2008 by PhoneArena Team

Sprint sells off its towers

In a move that will net Sprint approximately $670 million, Sprint announced that they will be selling 3,300 towers- nearly all of them- to TowerCo.  Not only will the move bring in some liquid cash for Sprint, but it will free them from the operation and maintenance costs and allow them "greater flexibility to manage the company" according to senior vice president Bob Azzi.  Sprint and TowerCo have an agreement to enter a long-term lease for CDMA, WiMax and iDEN support on the towers.  The deal is expected to close in 90 days.

source: InformationWeek via Engadget Mobile

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1.
the first of many big moves from sprint/nextel?
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2.
towers today...company tomorrow HAHAHA
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25.
I don't get it
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34.
To E.N HES SAYING FIRST THE TOWERS DONT EXIST THEN SPRINT WONT EXIST
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3.
This is the kind of stuff you dont wanna read about a big company like Sprint.. It's only going to make things worst eventually..
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4.
what a last ditch move. this is like having to mortgage off your properties in monopoly to pay rent to another player. Big gamble that doesnt normally pan out. One wrong move and .. poof.. bye bye sprint.
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5.
I feel bad for Sprint. In an effort to make things better for their company, they are just making it worst little by little. They should just sell the entire company instead of loosing more money, customer, and now I think quality.
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6.
Why don't I see anything about EV-DO support? I'm getting nervous...
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7.
Sprint will be merging with Clearwire more than likely this fall. No need to panic. Once wimax is rolled out Sprint will be kicking @ 5MBPS + verus other slower carriers.
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8.
Sprint and ATT is last of the American owned Cell phone companies. Everyone else is owned by Germany.
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9.
no really verizon is majorly owned by verizon co. which is a US (eastcoast) company. Vodafone only owns a portion of verizon.
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10.
hush, both of u
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15.
Who died and made you mommie
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20.
actually verizon is owned by vodafone they control 51 percent of the company
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23.
no its a 55% 45% in favor of verizon
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51.
Polo You got it. Below text From Wikipedia
Cellco Partnership, doing business as Verizon Wireless, owns and operates the second largest wireless telecommunications network in the United States, based on a total of 70.8 million U.S. subscribers,[1] behind AT&T Mobility's 74.9 million subscribers.[2] Verizon Wireless has the highest revenue of all wireless companies based within the United States, with an annual revenue of $43.9 billion. Headquartered in Basking Ridge, New Jersey, the company is a joint venture of Verizon Communications and Vodafone Group, with 55 and 45 percent ownership respectively. They claim their wireless network covers geographic regions that contain a population of 260 million people within the United States.[3]
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12.
so there service is going to suck worse that it does now how nice
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13.
So selling the stuff to another co. to maintain is smart to me, one less thing to worry about and 670M in cash to loose a headache is alright to me. All of thier towers weren't sold plus I'm pretty sure vzw and att don't own all the towers they operate on
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17.
actually Verizon does own it's cell towers. of course there are agreements in place w/ other carriers in case you need someone else's towers. but that is standard for other companies also.
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