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Sprint Corp was incorporated in 1938. The foundation for the company was laid as early as in 1899, when the Brown Telephone Company was started as a small telephone company. The company’s identity was modified many times to match with the trends in the industry and in 1992, it became Sprint Corporation. In 1995, Sprint purchased the wireless licences of PCS, over which Sprint gained complete management control in 1998.
Sprint, which was originally operating two independently traded units - namely Sprint FON and Sprint PCS - recombined these two into the FON stock in April 2004. As a result, all of the company's operations are represented by the FON stock.
Sprint is a global communications company offering an extensive range of communication products and solutions, including wireless, long-distance voice and data transport, global Internet Protocol (IP), local and multiproduct bundles.
Sprint PCS operates a 100% digital personal communications service (PCS) wireless network with licences to provide service to the entire US population, including Puerto Rico and the US Virgin Islands. Sprint, together with third-party affiliates, operates PCS wireless systems in over 350 metropolitan arkets, including the 100 largest US metropolitan areas. Sprint’s wireless service, including third-party affiliates, reaches around 250 million people. Combined with its wholesale partners and Sprint PCS affiliates, the company served a total of 24.7 million wireless subscribers at the end of 2004. At that time, Sprint served approximately 7.7 million access lines in its franchise territories in 18 states. (Sprint PCS is covered in a separate Executive Briefing as part of the Network Operators Worldwide (NOW) service.)
Sprint is selling into the cable telephony market through arrangements with cable companies that resell Sprint longdistance service and/or use Sprint back office systems and network assets in support of their local telephone service provided over cable facilities.
Sprint is one of the largest carriers of Internet traffic, and provides connectivity to any point on the Internet either through its own network or via direct connections with other backbone providers.
In December 2004, the boards of directors of Sprint and Nextel Communications Inc approved a definitive agreement for a merger of equals. At that time, Sprint and Nextel had a combined total equity value of approximately US$70 billion and served more than 35 million wireless subscribers on their networks and five million additional subscribers through affiliates and partners.
In August 2005, Sprint and Nextel completed their merger transaction, forming Sprint Nextel Corp - a telecommunications powerhouse with leading wireless capabilities and a national wireline network. At completion, the combined company, along with its affiliates and partners, operated networks covering approximately 268 million people. Sprint Nextel began the process of separating the operations of Sprint's local telecommunications business, including consumer, business and wholesale operations, and plans to seek regulatory approvals to spin off the local telecommunications business to Sprint Nextel shareholders in a tax-free transaction, which is expected to be completed in 2006.
