Nortel, Sprint Ink Marketing Deal

Communications Today, March 29, 2002

Nortel Networks [NT] on Wednesday inked a deal with Sprint [FON] to market each other's products.

Financial terms of the deal weren't disclosed. Both companies said they wanted to find new sources of revenue and build market and brand awareness through co-marketing and joint sales activities. The initial program offered by the two companies will be a converged voice and data product in Sprint's local phone territories.

This past January, Nortel reported a 2001 fourth-quarter pro forma loss of $506 million, or 16 cents a share, compared with a profit of $830 million, or 26 cents a share, in the year-ago period. This past month, Sprint's FON Group reported a 2001 fourth-quarter loss of $906 million, or $1.02 per share, compared with a profit of $97 million, or 11 cents a share, a year ago. >TK Level 3 Communications [LVLT]: Commonwealth Telephone Enterprises [CTCO]: