Sprint Corp (S) Key Developments | Reuters.com
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Sprint Corp (S)

S on New York Consolidated

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28 Jun 2016
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Latest Key Developments (Source: Significant Developments)

Sprint says is including 12-month Amazon Prime membership with Amazon Better Choice XXL plan
Friday, 13 May 2016 09:00am EDT 

Sprint Corp :Beginning Friday, Sprint is including a 12-month Amazon prime membership with Amazon Better Choice XXL plan.  Full Article

Sprint Corp gives FY 2016 earnings outlook
Tuesday, 3 May 2016 07:30am EDT 

Sprint Corp:Expects FY 2016 adjusted EBITDA to be $9.5 billion to $10 billion.Expects FY 2016 operating income to be $1 billion to $1.5 billion.  Full Article

Sprint Corp announces Wireless Lifeline Services Partnership with i-wireless
Monday, 2 May 2016 01:00pm EDT 

Sprint Corp:Says rntered into an agreement with i-wireless, LLC.Says partnership will merge Sprint's Assurance Wireless and i-wireless' Access Wireless into one entity.Says entity will operate under the name i-wireless.Sprint will own 70 percent of the business, with i-wireless owning the remaining 30 percent.  Full Article

Sprint Corp signs $2.2 billion deal for the sale and lease-back of certain existing network assets
Wednesday, 6 Apr 2016 05:00pm EDT 

Sprint Corp:Signs $2.2 billion deal for the sale and lease-back of certain existing network assets.Assets acquired by network leaseco will be used collateral to raise about $2.2 billion in borrowings from external investors, including softbank.Will consolidate network leaseco and co's consolidated financials will reflect cash proceeds and the underlying debt of network leaseco.Network assets involved in the transaction will remain on co's consolidated financial statements and will continue to be depreciated.$2.2 billion of cash proceeds co expects from transaction scheduled to be repaid in staggered, unequal payments through January 2018.Says network leaseco will acquire certain existing network assets and then lease them back to Sprint.  Full Article

Sprint Corp raises FY 2015 Adjusted EBITDA and operating income outlook; gives FY 2016 Adjusted EBITDA outlook
Wednesday, 27 Jan 2016 07:30am EST 

Sprint Corp:Raises Fy 2015 Adjusted EBITDA guidance from the previous expectation of $6.8 billion to $7.1 billion to a range of $7.7 billion to $8 billion.Raises guidance for FY 2015 operating income from its previous expectation of an operating loss of $50 million to $250 million to operating income of $100 million to $300 million.Says In addition, the company's preliminary estimate for FY 2016 Adjusted EBITDA is approximately $9.5 billion to $10 billion.  Full Article

Sprint Corp to cut 2,500 jobs - CNBC, citing The Kansas City Star - Reuters
Monday, 25 Jan 2016 02:29pm EST 

Sprint Corp:Sprint Corp to cut 2,500 jobs - CNBC, citing The Kansas City Star - RTRS.  Full Article

Sprint signs $1.2 billion deal for sale and lease-back of certain leased devices to newly formed Mobile Leasing Solutions LLC
Friday, 20 Nov 2015 07:31am EST 

Sprint Corp:Signs $1.2 billion deal for sale and lease-back of certain leased devices to newly formed Mobile Leasing Solutions LLC.Also amends existing receivables facility to include lease receivables and expands total capacity to $4.3 billion.Says now expects fiscal year 2015 adjusted EBITDA* to be between $6.8 to $7.1 billion.Sale and lease-back of certain leased devices to Mobile Leasing Solutions LLC, is accretive to free cash flow.Transaction establishes repeatable structure for mitigating the working capital impacts associated with leasing devices to sprint's customers.  Full Article

Sprint Corp to create four regional hubs, cut jobs in overhaul - Bloomberg - Reuters
Friday, 13 Nov 2015 04:37pm EST 

Sprint Corp:Sprint Corp. is creating four regional offices and eliminating some jobs to focus on service quality and customer retention in 19 major U.S. markets, part of Chief Executive Officer Marcelo Claure’s efforts to turn around the struggling wireless carrier - Bloomberg.The moves will help Overland Park, Kansas-based Sprint cut costs as Claure works to reverse a seven-year streak of subscriber losses - Bloomberg.Dave Tovar, a spokesman for Sprint, couldn’t say how many jobs would be eliminated - Bloomberg.The company is aiming to cut as much as $2.5 billion from its more than $20 billion in annual costs, and is looking in a range of areas, including roaming payments - the money it pays other carriers to handle calls outside the reach of its network - Bloomberg.  Full Article

Sprint Corp says co became First U.S. Carrier to sign direct cuba roaming agreement
Monday, 2 Nov 2015 12:00pm EST 

Sprint Corp:Says became the first U.S. wireless carrier to sign a direct roaming agreement with Telecommunications Company of Cuba.  Full Article

Sprint Corp says aims to slash costs up to $2.5 bln, layoffs loom - Reuters
Sunday, 1 Nov 2015 08:33pm EST 

Sprint Corp:Sprint Corp said on Sunday it aims to slash fiscal 2016 expenses by as much as $2.5 billion, through layoffs and a wide array of cost controls, as an essential part of its ongoing turnaround efforts - RTRS."We are leaving no stone unturned and looking at all areas," company spokesman Dave Tovar said in an interview. He declined to predict how many employees would be laid off, saying it was too early in the budgeting process - RTRS.The estimated cost savings for Sprint, which has 31,000 employees, would be equivalent to about 10 percent of its current annual operating costs of $26 billion - RTRS.The ratio of the company's capital expenditures to its sales is more than 20 percent, which Tovar said is higher than for other wireless carriers. "We are trying to get more in line with the industry average," he said - RTRS.He said Sprint on Tuesday will provide more details about the job cuts and the company's plans to bolster the quality, speed and capacity of its wireless network, when it reports fiscal second-quarter results - RTRS.Savings are also expected to come from cutting severance for laid off employees and temporarily eliminating raises - RTRS.  Full Article