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Sprint to pay Clearwire $1 billion in fees(Associated Press Via Acquire Media NewsEdge) OVERLAND PARK, Kan. -- Sprint has agreed to pay wireless broadband provider Clearwire at least $1 billion through 2012 for wireless wholesale services, settling a dispute that's cut into its revenue. Sprint Nextel Corp., which owns most of Clearwire, is also its largest customer. Sprint CEO Dan Hesse says the company is pleased to have reached a deal. 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. 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. Sprint shares rose 6 cents to $4.76 in morning trading. (c) 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. |