Sprint To Pay Clearwire $1 Billion In Fees

citizen |

OVERLAND PARK, Kansas (AP)- Sprint Nextel Corp. has agreed to pay wireless broadband provider Clearwire Corp. more than $1 billion through 2012 for wireless wholesale services, settling a dispute that has cut into its revenue.

Sprint, which owns most of Clearwire, is also its largest customer.

Sprint has agreed to pay $300 million in 2011 and $550 million in 2012. It also agreed to pre-pay $175 million for its high-speed, 4G telecommunications services it plans to use this year and beyond. In addition, Sprint will pay Clearwire $28 million to settle a pricing dispute.

Clearwire had been locked in a dispute with Sprint over how much Sprint should pay for data service for phones that run on both 4G and the older 3G networks. The companies entered arbitration in November.

Associated Press text, photo and/or graphic material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. Neither these AP Materials nor any portion thereof may be stored in a computer except for personal and non-commercial use. The AP will not be held liable for any delays, inaccuracies, errors or omissions therefrom or in the transmission or delivery of all or any part thereof or for any damages arising from any of the foregoing.

Latest Stories

Latest Podcast

STARR Community Services International, Inc.