Sprint Nextel (S -1.2%) agrees to to pay $480M to U.S. Cellular (USM) for PCS spectrum and...

|About: Sprint Corporation (S)|By:, SA News Editor

Sprint Nextel (S -1.2%) agrees to to pay $480M to U.S. Cellular (USM) for PCS spectrum and 585,000 subscribers in Illinois, Indiana, Michigan, Missouri and Ohio. The deal, which includes the assumption of liabilities, will "significantly increase Sprint's network capacity and improve the customer experience." (PR)