WAYNESBORO, Va., May 22, 2014 /PRNewswire/ -- NTELOS Holdings Corp. (the "Company," NASDAQ: NTLS), a leading regional provider of nationwide wireless voice and data communications and home to the "best value in wireless," announced it will host a conference call today, May 22, 2014, at 8:00 a.m. ET to discuss the extension of the Strategic Network Alliance ("SNA") with Sprint Corporation ("Sprint," NYSE: S).
As disclosed in a joint press release issued this morning and on Form 8-K filed with the Securities and Exchange Commission, the amended and restated resale agreement has been extended to December 31, 2022. The agreement calls for NTELOS Inc. ("nTelos") to remain the exclusive wholesale network services provider for Sprint in the SNA territory and expands the relationship to include access to the Company's recently launched 4G LTE network. In addition, nTelos retail customers will have access to Sprint's nationwide 4G LTE network outside the Company's footprint.
"We are excited to continue our long-standing relationship with Sprint," said James A. Hyde, CEO of NTELOS Holdings Corp. "Today's announcement marks a monumental step that will shape nTelos's future and lays the foundation for our strategy of unlocking value and accelerating growth. By investing in our network, nTelos is well-positioned to continue growing our retail business and maximizing the revenue potential of our wholesale relationships. We are pleased with the terms of the agreement, which we believe are mutually beneficial to all stakeholders. We are equally confident nTelos and Sprint will emerge with a best-in-class, state-of-the-art network, which will allow both companies to compete more effectively in a dynamic wireless environment."
nTelos has committed to enhance its 4G LTE network in the SNA territory to specifications aligned with Sprint's network modernization program. nTelos will have access to Sprint's 800 MHz, 1.9 GHz and 2.5 GHz spectrum in the SNA territory to meet the growing demand for voice and data services among its retail and wholesale customers, improve the quality of its coverage and enhance overall customer satisfaction.