Agreement Will Help Accelerate Sprint's Densification Plans and Deepen Business Ties
OVERLAND PARK, Kan., and ATLANTA, Jan. 18, 2018 /PRNewswire/ -- Sprint (NYSE:S, news, filings) and Cox Communications today announced a new multi-year business agreement designed to strengthen each company. The agreement, reached as part of a settlement of patent litigation between the parties, will allow Sprint to leverage Cox's broadband infrastructure to accelerate the densification of the Sprint network while simultaneously increasing efficiency of its macro backhaul and small cell deployment. Additionally, the agreement will increase and strengthen other business ties between the two companies.
"This is another opportunity to work with a strategic partner to accelerate our densification plans to improve our network performance and experience for Sprint customers throughout Cox's national territory," said Sprint's Chief Technology Officer John Saw. "Moving forward, we will continue to look for new opportunities to work with Cox in ways that are mutually beneficial."
"We are pleased to continue our positive, long-term working relationship that benefits both companies and consumers," said Steve Rowley, executive vice president, Cox Business.
Through the deployment of small cells and other solutions, Sprint is working to significantly densify its network to enhance performance and improve the customer experience. Sprint's Densification and Optimization toolkit includes a variety of solutions from traditional macro towers to small cells including Sprint Magic Box, airpoles, strand mounts and repeaters. Through this agreement with Cox, Sprint will significantly accelerate deployment of that toolkit throughout Cox's national footprint. With spectrum holdings of 204 MHz of spectrum and more than 160 MHz of 2.5 GHz in the top 100 markets, Sprint has more spectrum capacity than any other U.S. carrier enabling it to keep pace with customer's growing demand for Unlimited data now and well into the future.
This release includes "forward-looking statements" within the meaning of the securities laws. The words "may," "could," "should," "estimate," "project," "forecast," "intend," "expect," "anticipate," "believe," "target," "plan," "will," "providing guidance," and similar expressions are intended to identify information that is not historical in nature. All statements that address operating performance, events, or developments that we expect or anticipate may occur in the future — including statements relating to the success of the new relationship, including the network densification and operating model, as well as statements expressing general views about future services, efficiencies, and network performance and build of such transaction — are forward-looking statements. Forward-looking statements are estimates and projections reflecting management's judgment based on currently available information and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. With respect to these forward-looking statements, management of Sprint and Cox have made assumptions regarding, among other things, the ability to operationalize the anticipated benefits from the transaction, including anticipated efficiencies of the agreement; the development and deployment of new technologies and services; efficiencies and cost savings of new technologies and services; customer and network usage; connection growth and retention; service, speed, coverage and quality; availability of devices; availability of various financings; the timing of various events; regulatory approvals and the economic environment. Sprint and Cox believe these forward-looking statements are reasonable; however, you should not place undue reliance on forward-looking statements, which are based on current expectations and speak only as of the date when made. Sprint and Cox undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. In addition, forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from Sprint and Cox's historical experience and present expectations or projections. Factors that might cause such differences include, but are not limited to, those discussed in Sprint Corporation's Annual Report on Form 10-K for the period ended March 31, 2017and in Cox's filing with the Securities and Exchange Commission. You should understand that it is not possible to predict or identify all such factors. Consequently, you should not consider any such list to be a complete set of all potential risks or uncertainties.
Sprint (NYSE:S) is a communications services company that creates more and better ways to connect its customers to the things they care about most. Sprint served 54 million connections as of Sept. 30, 2017 and is widely recognized for developing, engineering and deploying innovative technologies, including the first wireless 4G service from a national carrier in the United States; leading no-contract brands including Virgin Mobile USA, Boost Mobile, and Assurance Wireless; instant national and international push-to-talk capabilities; and a global Tier 1 Internet backbone. You can learn more and visit Sprint at www.sprint.com or www.facebook.com/sprint and www.twitter.com/sprint.
About Cox Communications
Cox Communications is a broadband communications and entertainment company, providing advanced digital video, Internet, telephone and home security and automation services over its own nationwide IP network. The third-largest U.S. cable company, Cox serves approximately 6 million residences and businesses. Cox Business is a facilities-based provider of voice, video and data solutions for commercial customers, and Cox Media is a full-service provider of national and local cable spot and digital media advertising. Cox is known for its pioneering efforts in broadband, voice and commercial services, industry-leading customer care and its outstanding workplaces. For nine years, Cox has been recognized as the top operator for women by Women in Cable Telecommunications; Cox has ranked among DiversityInc's Top 50 Companies for Diversity 12 times. More information about Cox Communications, a wholly owned subsidiary of Cox Enterprises, is available at www.cox.com and www.coxmedia.com