Sprint Corp (fka S)

[TigerTrader83]

Leap cuts $300 million network deal with Sprint

Leap Wireless International Inc., the pay-as-you-go mobile-phone provider, said it will expand its Cricket-brand service across the U.S. in a $300 million deal with Sprint Nextel Corp.

Leap Wireless, based in San Diego, will expand over Sprint’s network during the next five years, the company said today in a regulatory filing.

Sprint will receive at least $25 million next year, $75 million in each of the following three years and $50 million in 2015, according to the filing. The carrier will get an undisclosed amount for each new Leap customer.

The agreement is for Sprint’s third-generation, or 3G, network. The carrier, is rolling out its 4G network, which it has advertised as offering higher download speeds.

http://sprintconnection.kansascity.com/?q=node/1552