In order to focus on their cellular-phone business, SK Telecom folded their NetsGo internet service provider and Lycos Korea into their subsidiary SK Communications in November 2002.
Sprint intends to use the net proceeds from the offering for general corporate purposes, which may include, among other things, redemptions or service requirements of outstanding debt, network expansion and modernization and potential funding of Clearwire Corporation and its subsidiary Clearwire Communications LLC.