Sprint Corp.is merging its Assurance Wireless with i-wireless' Access Wireless to form anew entity that combines two wireless Lifeline services.

Under the terms of the merger agreement, Sprint will own 70%of the business, with the remainder owned by i-wireless. The new entity willoperate under the i-wireless name. It will be led by i-wireless founder and CEOPaul McAleese. The transaction is subject to FCC and other regulatory approvals.

The Lifeline program, which is supported by the UniversalService Fund, provides discounted services to qualifying low-income consumers.