Sprint Nextel sells off its comm towers to TowerCo for $670 million

Sprint Nextel has sold off almost all (around 3,300) of its wireless communication towers to TowerCo for $670 million.

The officials explained that leasing the towers rather then owning them will allow the company to "better focus on its core business of providing communications services to consumers, businesses and government customers." Sprint Nextel's representative Bob Azzi also added that the transaction provides the company with "additional liquidity [for] greater flexibility in managing the company."