Sprint buying some US Cellular markets for $480 million - WKOW 27: Madison, WI Breaking News, Weather and Sports

Sprint buying some US Cellular markets for $480 million

Posted:

OVERLAND PARK, KS (WKOW) -- Sprint says it's reached a deal to buy U.S. Cellular markets in the Midwest for $480 million to boost its network capacity as it upgrades its network.

Overland Park, Kansas-based Sprint Nextel Corporation says it's buying spectrum and 585,000 customers in Illinois, Indiana, Michigan, Missouri and Ohio.

That's 10 percent of U.S. Cellular's customer base and includes the Chicago company's Chicago and St. Louis markets.

The acquisition is expected to close in the middle of next year.

Sprint shares are down 6 cents, or 1 percent, to $5.67 in premarket trading. U.S. Cellular Corporation stock is unchanged before the opening bell.

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and WKOW. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service and Mobile Privacy Policy & Terms of Service.

Persons with disabilities who need assistance with issues relating to the content of this station's public inspection file should contact Anna Engelhart at 608-661-2767. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, at 888-835-5322 (TTY) or at fccinfo@fcc.gov.