U.S. electronics chain RadioShack filed for bankruptcy on Wednesday for the second time in a little over two years, faced with a challenging retail environment and an unsatisfying partnership with wireless provider Sprint Corp. The Chapter 11 filing comes after RadioShack, owned by General Wireless Operations, tried to revitalize its business by co-branding stores with the wireless carrier in an effort to compete against their largest rivals. General Wireless, which acquired the RadioShack brand in 2015, listed assets and liabilities in the range of $100 million to $500 million in the U.S. bankruptcy court for the Delaware district.
Category: Sprint Nextel
FCC Will Return to – Light-Touch’ Regulation, Chairman Says
The Federal Communications Commission will return to “light-touch” regulation to maximize investments in broadband, Chairman Ajit Pai said at the Mobile World Congress in Barcelona. “Our approach will be not zero regulation but light-touch regulation,” Pai said onstage Tuesday at the annual industry event.
Exclusive: SoftBank willing to cede control of Sprint to entice T-Mobile – sources
Japan’s SoftBank Group Corp is prepared to give up control of Sprint Corp to Deutsche Telekom AG’s T-Mobile US Inc to clinch a merger of the two U.S. wireless carriers, according to people familiar with the matter. The logo of U.S. mobile network operator Sprint Corp is seen at a Sprint store in San Marcos, California August 3, 2015.
SoftBank quarterly profit soars on investment empire
Japanese telecommunications, internet and solar company SoftBank Group Corp. reported Wednesday that its October-December profit soared to about 40 times what it was a year ago. Tokyo-based SoftBank’s fiscal third quarter profit totaled 91.2 billion yen up dramatically from 2.3 billion yen in 2015.
Sprint Proves Critical Customer Growth Ahead of Possible Deal
Sprint Corp. garnered more wireless customers and revenue than expected last quarter, showing progress in its turnaround ahead of an expected consolidation of the industry under President Donald Trump. Sprint completed its second straight year of subscriber growth after signing up 405,000 new users in the all-important holiday shopping season, more than the 389,778 analysts were expecting.
Stock Face-Off: Verizon Communications Inc. vs. Sprint Corp.
In an industry where economies of scale play a deciding role, this is a massive business advantage for Big Red. The company can strike billion-dollar deals without breaking a sweat, take large business risks without betting the farm, and negotiate from a position of cash-backed strength.
Trump touts thousands of new jobs in deal with SoftBank CEO
President-elect Donald Trump says wireless carrier Sprint Corp will bring 5,000 jobs back to the United States. President-elect Donald Trump announced Wednesday that he has reached a deal with SoftBank chief executive Masayoshi Son that would generate thousands of jobs in the United States, the latest in a string of unusually direct negotiations between Trump and corporate America.