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Sprint's history in Overland Park: What led to proposed merger with T-Mobile

Video Credit: 41 Action News - Duration: 02:21s - Published
Sprint's history in Overland Park: What led to proposed merger with T-Mobile

Sprint's history in Overland Park: What led to proposed merger with T-Mobile

The origin of Overland Park-based Sprint begins with a railroad and a telephone company.

SPRINT LEADERS AREVOCAL ABOUT HOW MUCHTHEY NEED THIS MERGERTO GO THROUGH.THEY TOLD REGULATORSBACK IN APRIL -- MORELAYOFFS ARE LIKELY -- IFTHE GOVERNMENT SHOTDOWN THE PLAN.IN THE PAST 5 YEARS --MORE THAN 17-HUNDREDJOBS WERE ELIMINATEDFROM SPRINTNATIONWIDE.41 ACTION NEWSREPORTER CAT REIDSHOWS US THESTRUGGLES OF SPRINT.THIS ORIGIN STORYBEGINS WITH A RAILROADAND A TELEPHONECOMPANY AT THE TURN OFTHE CENTURYBY THE 1970S THERE WASA NEW NAME IN LONGDISTANCE DIALING-SPRINT.IT WOULD EVENTUALLYBECOME THE THIRDLARGEST MOBILENETWORK OPERATOR INTHE COUNTRY AT ITS PEAK.MOVING INTO ASPRAWLING CAMPUS INOVERLAND PARK IN THELATE 90S.THAT'S WHERE A STEADYDECLINE BEGAN-Melinda Tiemeyer-we do feel the steps we'retaking today are necessaryIN A TWO YEAR PERIODFROM 2001 TO 2003- MORETHAN TWENTY THOUSANDWORKERS WERE LAID OFFNATIONWIDE.THERE WOULD BE MANYMORE CUTS ANNOUNCEDIN THE FOLLOWING YEARSMERGERS, TOOGary Forsee-this is obviously a great dayforthese two companiesTHE SPRINT NEXTELMERGER WAS ANNOUNCEDIN 2004LATER- ACQUISITION BY AJAPANESE COMPANYCALLED SOFTBANKTHEN ON AGAIN OFF AGAINTALKS WITH T-MOBILEWITH THE ANNOUNCEMENTOF A 26 BILLION DOLLARDEAL FINALLY COMING INAPRIL 2018Marcelo Claurethis company's about growth,so when you bring betterproduct, better price, morejobs,this is a poster child.

This iswhat every merger should looklikeTHE PLAN- TO CUT COSTSFOR CONSUMERS- ANDDEVELOP A 5G NETWORK.BUT THERE WERE HOOPSTO JUMP THROUGH FIRST-LIKE APPROVAL FROM THEF-C-C AND THEDEPARTMENT OF JUSTICENOT TO MENTIONLAWSUITS FROM STATEATTORNEYS GENERALWHILE THE MERGERWORKED ITS WAYTHROUGH WASHINGTON-A REAL ESTATE DEALMARKED THE END OF ANERA IN OVERLAND PARKA WICHITA COMPANY TOOKOWNERSHIP OF THE 17-BUILDING SPRINT CAMPUS-WITH A PLAN FOR THECOMPANY TO LEASE BACKSPACE.IT WOULD BE THE SECONDHEADQUARTERS FOR T-MOBILE- LIVING UP TOWHATTHE ONCE CEO OF SPRINTTOLD EMPLOYEES FOURYEARS AGOMarcelo Claure-It's hard to make lifetimeguarantees, but I can tell youforeseeable future there's noreason to leave Kansas CityREPORTING IN OVERLANDPARK, CAT REID, 41 ACTIONNEWS.TODAY'S GREEN LIGHTFROM THE JUSTICEDEPARTMENT SENTSPRINT'S STOCKSSOARING.THIS CHART SHOWS THEIRSTOCK SPIKING -- SHORTLYAFTER NEWS BROKE JUSTBEFORE 11 O'CLOCK.SPRINT'S SHARES WENTUP MORE THAN SEVENPERCEN




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