Sprint Nextel Pulls Out of Cable Consortium; Pledges to Continue Pivot Service

6:30 am on August 3, 2007 | Category: Business, Telecom Services, Wireless

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America’s third largest cell phone carrier, Sprint Nextel Corp., is backing out of a wireless spectrum consortium involving a number of major cable companies, but says that other partnerships with the cable industry, including the Pivot cell phone service, will remain high priorities.

Sprint contributed at least $100 million to the consortium, which purchased $2.37 billion worth of wireless spectrum licenses from the U.S. Federal Communications Commission. Its cable partners, which include Comcast, Cox, and Time Warner, must now buy back Sprint’s 5% share of the venture, and take full possession of the acquired airwaves.

“This action has been long-planned and does not reflect a change in strategy or focus for Sprint Nextel or its cable partners,” commented Sprint spokeswoman, Leigh Horner.

The wireless giant will continue to facilitate Pivot, a joint venture allowing cable companies to resell bundled cell phone services over Sprint’s CDMA wireless network.

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