Sprint Nextel Corporation (Sprint), is a holding company, with its operations primarily conducted by its subsidiaries. The Company operates in two segments: Wireless and Wireline. Sprint is a communications company offering a range of wireless and wireline communications products and services that are designed to meet the needs of individual consumers, businesses, government subscribers and resellers. Its operations are organized to meet the needs of its targeted subscriber groups through focused communications solutions that incorporate the capabilities of its wireless and wireline services. In July 2013, Sprint Nextel Corp announced the acquisition of Clearwire Corp. In July 2013, the Company and SoftBank Corp (SoftBank) announced the completion of their merger. Through this transaction, approximately 72% of the Sprint shares were acquired by SoftBank and the remaining shares were converted into shares of a new company named Sprint Corporation.