Sprint Nextel to Buy Virgin Mobile USA

Deal to complement company's existing Boost Mobile prepaid division
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Overland Park, Kan. - Sprint Nextel will buy prepaid mobile virtual network operator (MVNO) Virgin Mobile USA to complement its existing Boost Mobile prepaid division under a definitive purchase agreement approved by the Sprint and Virgin Mobile boards.

Both prepaid brands will remain on the market because they feature complementary offerings and "appeal to different customer demographics," the companies said. Boost's demographics are typically more urban and younger, whereas Virgin's are "really mass market, from 9 to 90," a Virgin spokesperson said.

To read the full story from TWICE, click here.

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