Sprint Nextel losing subscribers

Not only is NASCAR's TV ratings and attendance dropping, it's title sponsor Sprint Nextel is also losing subscribers at an alarming rate. Look for them to try and find a way out of their NASCAR contract early because obviously it is not working.

Sprint Nextel's profit fell 77 percent in the third quarter as it lost more subscribers, and it warned of continued weakness in the fourth quarter, sending shares down 5 percent Thursday.

The third-largest U.S. mobile service provider, which is searching for a new chief executive, also reported quarterly revenue that was below Wall Street expectations and withdrew its 2008 forecast for operating income before depreciation and amortization (OIBDA).

"Overall I think they're pretty disappointing results. It seems like all channels were weak in the quarter," said Stanford Group analyst Michael Nelson. "The outlook looks equally disappointing with no real turnaround in sight."