Perhaps riding the wave of Apple's popular iPhone, Sprint ( S) announced it's in discussions with Japanese mobile carrier Softbank over either a potential majority investment or outright sale of the company.

"Although there can be no assurances that these discussions will result in any transaction or on what terms any transaction may occur, such a transaction could involve a change of control of Sprint," the company said in a statement.

Sprint noted that it will not comment further on the transaction until the two parties reach a deal.

Investors reacted positively to the talks, sending Sprint up 10% for the week to close Friday at $5.73.

The Overland Park, Kan.-based telecom company also announced this week that it's offering vanity cell phone numbers, as part of a service called StarStar Me.

Netflix ( NFLX) CEO Reed Hastings stepped down from Microsoft's ( MSFT) board on Tuesday.

"I've decided to reduce the number of boards I serve on, so that I can focus on Netflix and on my education work," Hastings said in the statement. "I'm thrilled to have served on the board at such a pivotal time for Microsoft, including the development of Windows 8, Windows RT and Microsoft Surface, which will bring exciting new opportunities for customers and the industry as a whole."

Netflix was also the subject of Wall Street attention this week, with Morgan Stanley upgrading the stock on Tuesday, and Bank of America Merrill Lynch downgrading shares on Wednesday.

Shares of Netflix lost 3.4% for the week, closing at $64.34.

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