In a move to pay down debt, Sprint has decided to sell its towers to TowerCo and lease them back.

Approximately 3,300 towers will be sold for $670 million in cash. Sprint is rumored to be floating the idea of selling Nextel as well and as you may know, SK Telecom was looking to buy Sprint Nextel but Sprint refused.

Dorothy was right — there’s no place like home (Kansas — where Sprint is headquartered) as Sprint management has likely never been so busy.