Item 7.01 Regulation FD Disclosure.

On May 4, 2012, James H. Hance, Jr., Chairman of the Board of Directors of Sprint Nextel Corporation (the "Company") made the following statement regarding the Company's announcement on Form 8-K today concerning the Letter Agreement between the Company and Daniel R. Hesse. The Letter Agreement described Mr. Hesse's decision to voluntarily reduce his 2011 and 2012 total compensation package.

"Today Sprint announced in an SEC filing that President and CEO Dan Hesse has offered to return to the company any additional compensation he received as a result of the discretionary adjustment in incentive pay relating to the launch of the iPhone. Dan discussed with the board his plan to also reduce his 2012 short term and long term target opportunities, and we have accepted his proposal. We applaud Dan for his willingness to sacrifice personal compensation in order to reduce any distraction that could negatively affect the morale and performance of the company. Dan enjoys the full support of our board of directors and we appreciate the leadership he has demonstrated as he continues to guide the company through a turnaround in a difficult competitive environment."

---