Sprint Nextel faces write-down

Sprint Nextel Corp. said it would have to write off a significant chunk of the remaining value of its 2005 purchase of Nextel Communications Inc. and several affiliates, reflecting the continued struggles of its wireless operations.

In a securities filing, the company said it was looking at the $30.7 billion on its books for goodwill -- the difference between what is paid for acquisitions and what the assets are actually worth -- related to wireless takeovers.

A Sprint goodwill write-down wouldn’t affect its day-to-day operations or cash balance or place the company in danger of violating its debt covenants, a spokesman said.