Verizon Communications Inc. did not produce as strong a growth in revenue as analysts expected. Verizon executives say the company's shrinking wireline revenue is due to corporate spending cuts and reduced government spending.
$25 billion offer: Dish Network is offering to buy Sprint Nextel Corp. in a cash-and-stock deal Dish values at more than $25 billion, saying its bid for Sprint Nextel is superior to that of Japanese phone company SoftBank.
Clearwire minority shareholders will be bought out by Sprint for $2.2 billion, a higher price than it previously said it would pay. The Clearwire deal still needs approval from shareholders and regulators, but Sprint expects to get it done by the middle of 2013.
Sprint Nextel shares rose Thurday amid reports that the third-largest cell phone company is in talks to be bought out by Japanese-owned Softbank Corp. The Sprint Nextel deal would be valued at more than $12.8 billion.