EarthLink purchases nine million shares of its common stock from Sprint for $53.1M

April 2, 2003

1 Min Read

ATLANTA -- EarthLink, Inc. (Nasdaq: ELNK - News) today announced that it agreed to purchase nine million shares of its common stock from Sprint Corporation (NYSE: FON - News) for $53.1 million. Sprint will convert shares of its EarthLink Series B preferred stock into common stock for this transaction. The Series B preferred shares were part of an investment that Sprint made in EarthLink from 1998 to 2000. This purchase is in addition to the stock repurchase plan that EarthLink announced on February 24, 2003. $18.5 million remains available for repurchase of EarthLink stock under this plan. EarthLink Inc. Sprint Corp.

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