Sprint Nextel sells cell towers to reduce debt
Sprint Nextel is selling more than 3,000 cell phone towers in a deal that will bring in $670 million in cash for the beleaguered wireless operator.
Sprint Nextel announced Wednesday that it plans to sell most of its cell phone towers to TowerCo. Sprint will then lease access to the towers to run its cellular phone network as well as build the new 4G WiMax network it's working on as part of the new Clearwire venture.
Sprint didn't disclose the specific number of towers it will sell and the final purchase price won't be determined until … Read more