Sprint Forms New Division to Combine Wireless Acquisitions
Westwood, Kansas, Aug. 9 (Bloomberg) -- Sprint Corp., the No. 3 U.S. long-distance phone company, said it will combine five wireless companies it's buying into a new division that will develop voice, video and data services.
The Broadband Wireless Group will build a wireless network in 65 markets covering about 30 million households, and provide high-speed Internet access to homes and small businesses. Similar services are offered by local phone companies such as Bell Atlantic Corp.
Westwood, Kansas-based Sprint said it's awaiting Federal Communications Commission approval to buy the five wireless companies -- People's Choice TV, American Telecasting Inc., Transworld Telecommunications Inc., Videotron USA, and WBS America. The acquisitions could allow Sprint to link directly to customers and avoid leasing lines from local phone companies.
''We must get to market and begin winning customers as soon as possible,'' said Kevin Brauer, president of Sprint's National Integrated Services. The new division is part of NIS.
Customers will receive the wireless services via nine-inch antennae that are mounted on roofs or sides of homes or businesses.
Sprint shares rose 7/16 to 50 1/4 in late morning trading.
Timothy Sutton was named president of the Broadband Wireless Group. He was formerly vice president of technology and corporate development. Sutton will report to Brauer.
The Broadband Wireless Group also will work with Sprint's Consumer Services Group, Sprint Business and other parts of NIS to introduce Sprint's new integrated on-demand network that offers high-speed services |
