The latest how-will-Sprint-survive theory has the carrier getting more than $10 billion from Berkshire Hathaway Inc., the firm run by Warren Buffett.

Buffett, Sprint Corp. (NYSE: S) Chairman Masayoshi Son and Liberty Broadband CEO John Malone are scouting out a possible deal, The Wall Street Journal reported today.

The Journal reported the $10 billion figure as "one possibility" being discussed but said the nature of the deal behind that money was unclear.

The three men are all in Sun Valley, Idaho, for the annual Allen & Co. conference that gathers CEOs, including Apple's Tim Cook and Amazon's Jeff Bezos.

It's the latest option being explored by Sprint, which has continued to struggle after getting the backing of SoftBank. (See Level 3: Security Is Company-Specific, Sprint, Verizon Face Reorganization, Job Cuts and Sprint Bags Another $3.1B in Financing.)

Reports earlier this year had T-Mobile and Sprint engaged in merger talks. Those were put on hold, the Journal reported in June, when Charter and Comcast began talking to Sprint about a wholesale wireless agreement that would have the MSOs chipping in to upgrade Sprint's network. (See T-Mobile, Sprint Restart Merger Talks – Report, DT Wants Majority Stake in T-Mobile-Sprint Merger – Report and Charter, Comcast Eye Sprint Tie-Up – Report.)

— Craig Matsumoto, Editor-in-Chief, Light Reading